Quality Decision Making: Cost-Benefit Analysis
For this assignment, evaluate and analyze the cost and benefit data you developed for the discussions in this unit and Unit 5. Remember that your cost-benefit analysis must relate to one of the following topics:
- Patient safety.
- Risk management.
- Regulatory standards.
- Patient and stakeholder satisfaction.
Note that an effective cost-benefit analysis cannot be conducted in a vacuum and risk management cannot be effectively implemented within a silo (Youngberg, 2011). Rather, savvy health care leaders consider each cost-benefit analysis within the larger context of industry trends, regulatory requirements, organizational strategy, organizational capacity, and so on.
For this assignment:
- Enter the cost and benefit data you developed for the cost-benefit analysis discussions into the cost-benefit analysis template, linked in the Resources.
- Write a paper in which you do the following:
- Describe the organizational or program/department issue for which you have created the cost-benefit analysis.
- Evaluate the cost versus benefit according to the general guidelines outlined by Plowman’s 2014 articles you read in the preparation for this assignment.
- Make a recommendation as to whether the benefits are sufficient to outweigh the costs of proceeding.
- Describe the systems-based context for your recommendations, integrating the cost-benefit analysis within the organization as a whole.
- Describe how the issue relates to the organization’s vision, mission, and strategic direction.
- Provide a rationale that explains how your recommendations are appropriate for your organization’s capacity and strategy.
Your paper should use proper APA style and formatting and include the following sections. Each section, except the title page, should include the appropriate section heading.
- Title page
- Use APA formatting. Include:
- Assignment number, Unit 6, Assignment 1.
- Your name.
- The date.
- The course number, MHA5014.
- Your instructor’s name.
- Use APA formatting. Include:
- Abstract, which will consist of a one-paragraph summary of the paper content. This is not an introduction to the topic, but a summary of the entire paper. Make sure to double space.
- Issue Description.
- Cost-Benefit Analysis Evaluation.
- Cost-Benefit Analysis Recommendations.
- Context for Recommendations.
- Relationship to Vision, Mission, and Strategy.
Plowman, N. (2014). Writing a cost benefit analysis. Retrieved from http://www.brighthubpm.com/project-planning/58181-writing-a-cost-benefit-analysis/
Youngberg, B. J. (2011). Principles of risk management and patient safety. Sudbury, MA: Jones and Bartlett.
- Written communication: Written communication is free from errors that detract from the overall message.
- Length of paper: 5–6 typed double spaced pages.
- Font and font size: Arial, 10 point.
Review the scoring guide for this assignment for more information about assignment requirements.
Submit your Excel spreadsheet and your paper in the assignment area.
Note: Your instructor may also use the Writing Feedback Tool to provide feedback on your writing. In the tool, click the linked resources for helpful writing information.