This competency assessment assesses the following Outcome(s):
HA425-2: Apply economic concepts to the design of quality improvement plans for a healthcare facility.
Imagine that you have been asked to develop a new quality improvement program to address cost containment in your facility. Prepare a memo to the Board of Directors that proposes cost containment projects that reduce facility costs as well as improve quality.
- In the memo, discuss why there is a need to balance cost containment with quality improvement. Include at least three specific rationales.
- Choose at least one cost-containment strategy. Some strategies might include outsourcing services, standardizing clinical processes, reducing overhead, etc.
- Describe in your memo how you will apply it to an area (pharmacy, therapies, surgery, laboratory, etc.) within the healthcare facility entailing at least three steps.
- Discuss at least two ways the cost-containment strategy could adversely impact quality. Explain your reasoning.
- Must be 500 words