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BUSN652 Operational Quality In Healthcare
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BUSN652 Operational Quality In Healthcare
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Course Code: BUSN652
University: American Public University System
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Country: United States
Question:
You have recently been hired as the chief financial officer (CFO) of a large hospital. Your hospital has experienced major growth and is proposing a new department of quality improvement. This new department has to be approved by the board of directors. The chief executive officer (CEO) has asked you to prepare a presentation for the board of directors to stress the importance of quality from a financial standpoint. Prepare a 8-12 slide PowerPoint presentation describing the importance of delivering quality care on the finances of the organization. Make sure to include the following: An overview of the concept of quality in health care. A description of the current finances of the organization and how quality would enhance the bottom line. The consequences of not implementing the new department within the organization, including legal and marketing implications. As you are crafting your presentation, consider your audience: a group of board members that you need to persuade to approve the financials for a new department.
You need to make a strong, clear argument to support the need for a quality improvement department. You will also need to be creative to keep your audience’s attention. Include speaking notes with each slide outlining the presentation.
Answer:
Overview of Health Care Quality
The level of value given by health care resources is measured by different parameters, which is called the Health Care Quality
Institute of Medicine (IOM) define it as “the degree to which health care services for individuals and populations increase the likelihood of desired health outcomes”
The main purpose of health care is to give better quality of medical facilities to the needed, and to make sure to provide better quality of life by curing diseases and increasing life span.
Health Care Domains
The IOM has further given SIX (6)domains or properties for defining quality :
Effectiveness: It is mainly related with achieving scientificoutcomes for care procedures
Efficiency: It is related to increasing the quality of healthbenefits achieved by the use of resources
Equity: It is related to providing equal health care benefits to all
Patient centeredness: It means meeting patients’ all needs
Safety: Maintenance of all precautions to protect form anydisease
Timeliness: Reduction of any delays
This type of frameworks same of the IOM domains helps patients to understand the level of quality a health organization provides.
Grouping these measures into user friendly pattern helps patients further to understand the quality level
The health care quality measures the 6 domains differently, effectiveness and safety are examined by most of the measures, timeliness and patient-centeredness by a fewer , and efficiency and equity of care by even fewer measurements.
Present Financial Scenario
In the past few years this organisation has experienced major growth in the health care sector.
This growth is due to the rise in demand for better health care by the public, as the importance of better life and its implications are being observed by them.
Thus patients are preferring this organisation for its better health care quality measures
Eventually giving rise to the increase in the net profit
The balance sheet of this organisation shows there is also an increase in the assets
The cash flow statement tells that the investing activities, the financial activities and the operating activities has shown better results than previous years.
This further shows the increase in cash in hand
Liquidity of the organization shows improvement
Finally the overall analysis of the financial documents shows overall profit and continuous growth of the organisation
Results of Better Quality
Better quality in a health organisation implies better service quality,
Which is achieved by better treatment of patients and fulfilling all their needs providing patients satisfaction
Better quality also means less risks and more lives saved providing a trust factor in patients minds
This trust creates loyal patients and attracts other patients too
This helps in creating competitive advantage in the health industry
Finally increasing market share and customer base and as well as brings profit in the organization
Importance of New Department
Due to increase in the number of patients there is a short fall in the number of beds in special departments
Increasing the number of special departments will help in providing better care to the patients
For maintaining clean and silent environment in a health organisation having enough space is a major factor
More space creates better service opportunities for the patients with better health care
This attracts more patients and increase the brand value of the organisation
Legal Implication
The Healthcare Quality Improvement Act of 1986(HCQIA) was introduced by Congressman Ron Wyden from Oregon
This act was created due to the rise in medical malpractice
In present time there are more laws added to this act by American Medical Association
But still some law firms are quite open about techniques for taking advantage of the HCQIA act
In 1991 Omnibus Budget Reconciliation Act (OBRA) was formed to report “any negative action or finding” by “any peer review or accreditation entity”
Marketing Implication
Less specialised departments shows low quality of the organisation to provide required medical resources
This creates dissatisfaction in the minds of patients further losing faith and trust
Thus loss of customer and finally less customer base
Further decrease in the customer base will give rise to loss of competitive advantage
This further give rise to loss in market share
Finally decrease in profit and declination in growth
Conclusion
A new special department will help to improve the quality of the health services in the organisation
It will also help to provide better care to the patients
It increase in the customer base by eradicating diseases and increasing the life expectancy of patients
This give rise to more profits to the organisation
Finally increasing the growth chart for next 5 years
References
Ricci-Cabello, I., Violán, C., Foguet-Boreu, Q., Mounce, L. T., & Valderas, J. M. (2015). Impact of multi-morbidity on quality of healthcare and its implications for health policy, research and clinical practice. A scoping review. European Journal of General Practice, 21(3), 192-202.
Veenema, T. G., Rains, A. B., Casey-Lockyer, M., Springer, J., & Kowal, M. (2015). Quality of healthcare services provided in disaster shelters: An integrative literature review. International emergency nursing, 23(3), 225-231.
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