Research an economic opportunity that might be available within your health care setting—at both micro (departmental, neighborhood) and macro (organizational, community) levels—that you believe will provide ethical and culturally equitable improvements to the quality of care. Then, propose an initiative to take advantage of that opportunity. Support your proposal with economic data (sector growth, supply versus demand, cost versus reimbursement, et cetera) and an analysis of the prospective benefits for your department and for the organization overall. Such economic opportunities might include offering a new service line, working to improve a service line already offered, retiring an outdated or unprofitable service line, or any other initiative you believe will be of benefit to your organization in the short and long term. One example is a recently launched partnership with a local bicycle-sharing company. Your organization partners with them to host healthy community events that offer free screenings for early detection of various health issues. Free screenings help fulfill some of your organization’s preventive and healthy lifestyle initiatives, while also potentially driving referrals to other services provided by your organization.
Competencies Measured By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment scoring guide criteria: Competency 1: Analyze the effects of financial and economic factors (such as cost-benefit, supply and demand, return on investment, and risks) in a health care system on patient care, services offered, and organizational structures and operation. Analyze the economic factors of supply and demand associated with a proposed initiative, within a context relevant to a particular organization or care setting. Competency 2: Develop ethical and culturally equitable solutions to economic problems within a health care organization in an effort to improve the quality of care and services offered. Explain why a proposed initiative presents a viable and beneficial economic opportunity for an organization. Competency 3: Justify the qualitative and quantitative information used to guide economic decision making to stakeholders and colleagues. Explain how relevant economic and environmental data support a proposed initiative.