Phillip March 26, 2024 No Comments

FE005 Financial Health and Nurse Entrepreneurs

FE005 Financial Health and Nurse Entrepreneurs Name  University NURS 6211 Finance and Economics in Healthcare Delivery Prof. Name Date Proposal Implementation of a Telemedicine Program for Obstetric Patients The proposed initiative seeks to introduce a telemedicine program tailored specifically for obstetric patients. This program will be implemented across multiple facilities within our organization, enabling us to reach a broader patient base. By embracing telemedicine, we align with our organization’s mission of fostering supportive relationships to aid our patients’ journey to health and wellness. Benefits Low Cost of Implementation: Telemedicine offers a cost-effective solution compared to traditional in-person consultations. Potential for Growth: The telemedicine program presents substantial opportunities for growth, not only within clinics but also by facilitating increased utilization of hospital services. Improved Patient Satisfaction and Engagement: Through the convenience and accessibility of telemedicine, we anticipate heightened satisfaction levels among patients, leading to increased engagement with their healthcare. Financials Return on Investment (ROI): Projections indicate an impressive ROI of 248% over a five-year span. Cost Benefit: The cost benefit analysis demonstrates a favorable ratio of $11.78. Payback Period: With a payback period of less than one year, the financial viability of the telemedicine program is evident. Conclusion In conclusion, the implementation of a telemedicine program for obstetric patients presents an opportunity with minimal startup costs yet promising returns. This initiative not only generates significant revenue but also sets the stage for even greater future growth and innovation in healthcare delivery. NURS 6211 Assessment 5 FE005 Financial Health and Nurse Entrepreneurs.

Phillip March 26, 2024 No Comments

FE004 Costs and Savings

FE004 Costs and Savings Name  University NURS 6211 Finance and Economics in Healthcare Delivery Prof. Name Date SWOT Analysis: Chief Nursing Retention Officer Strengths All training for the program is conducted in-house. The Clinical Center (CC) is implementing the clinical ladder in 2021, and serving as a new-hire champion could facilitate promotion from GS-11 to GS-12. The CC, with 200 beds, is small enough to effectively implement the program and achieve the objective of reducing nursing turnover. As the largest government-funded research facility in the country, implementing the program could potentially save the CC millions. Weaknesses Hiring federal employees involves a lengthy process and obtaining federal clearances. Training managers and new-hire champions will require a significant amount of time. The CC, being a doctor-driven research facility, cannot afford delays in initiating the CNRO program. The current retention department at the CC is weak and ineffective. Hiring a GS-13 is expensive, adding to the financial burden. Data to support the program may not be readily available due to the unique nature of the National Institutes of Health. NURS 6211 Assessment 4 FE004 Costs and Savings Opportunities Attaining magnet status is a current goal for the CC, and the CNRO program could contribute to achieving this status. Improving retention can enhance morale, ultimately benefiting patient safety during JACHO inspections. Promotion of an employee to GS-13 within the CC to fill the CNRO position could save time compared to hiring externally. Rebuilding the current retention program using in-house training could lead to significant cost savings, which could then be reinvested in patient care. The implementation of an evidence-based research council (EBR) by shared governance can support nurses with projects within the CC, potentially bolstering the CNRO program. Threats Hiring federal employees is challenging and time-consuming, with potential candidates often opting for other positions, posing a threat to the program’s initiation without securing a GS-13. Convincing the Chief Executive Officer, who is a doctor, to replace the current retention program may prove difficult. Recruiting an adequate number of new-hire champions is essential for the success of the program. Gaining management buy-in and understanding of the program’s significance in reducing nursing turnover could be a challenge. Finding EBR support within a research facility setting might be challenging. NURS 6211 Assessment 4 FE004 Costs and Savings

Phillip March 26, 2024 No Comments

FE003 Budgets and Budgeting

FE003 Budgets and Budgeting Name  University NURS 6211 Finance and Economics in Healthcare Delivery Prof. Name Date Expenses/Cost Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Grand Total Start-up Expenses Start-up expenses $- $- $- $- $- $- $478,485.00 Leadership Development training x40 $217,160 – – – – – $217,160 Chief Nursing Retention Officer GS-13 $161,200 – – – – – $161,200 Birthday Fund x957 Staff RN’s $23,925 – – – – – $23,925 Emotional Intelligence Training x60 RNs $51,600 – – – – – $51,600 Effective Communication training x60 RNs $24,600 – – – – – $24,600 Operating Expenses Birthday Fund x957 Staff RN’s after 1 year of service – $23,925.00 $23,975.75 $24,695.02 $25,435.87 $26,198.95 $124,230.59 Chief Nursing Retention Officer GS-13 with 3% cost of living $161,200.00 $166,036.00 $171,017.08 $176,147.59 $181,433.34 $679,685.10 PTO of Birthday x957 RN’s after 1 year of service + cost of living – $294,449.76 $303,283.25 $312,381.75 $321,753.20 $331,405.80 $1,563,273.76 New-hire Champions 2K for tuition x15 after 1 year of service – $30,000.00 $30,000.00 $30,000.00 $30,000.00 – $120,000.00 Chair/Chair-elect 3K after 1 yr. termx14 – $42,000.00 $42,000.00 $42,000.00 $42,000.00 $42,000.00 $210,000.00 Total Expenses $478,485.00 $521,574.76 $565,295.00 $580,093.85 $595,336.67 $434,889.17 $3,175,674.45 Revenue/Savings Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Grand Total Increase retention by 10% yearly (current turnover 12%) – $918,720.00 $964,080.00 $974,670.05 $1,022,790.60 $1,053,468.00 $4,933,728.65 New-grad orientation decrease by 0.012% $5,220,000.00 $5,220,000.00 $5,220,000.00 $5,220,000.00 $5,220,000.00 – $26,100,000.00 New-hire orientation decrease by 0.012% $1,645,000.00 $1,645,000.00 $1,645,000.00 $1,645,000.00 $1,645,000.00 – $8,225,000.00 Total Revenue/Savings $7,783,720.00 $7,829,080.00 $7,839,670.05 $7,887,790.60 $7,918,468.00 – $39,258,728.65 Cash Flow Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Grand Total Cash Flow ($478,485.00) $7,262,145.24 $7,263,785.00 $7,259,576.20 $7,292,453.93 $7,483,578.83 $36,083,054.20 Payback Period Year Cash Flow ($) Net Cash Flow ($) 0 ($478,485.00) ($478,485.00) 1 $7,262,145.24 $6,783,660.24 2 $7,263,785.00 $14,047,445.24 3 $7,259,576.20 $21,307,021.44 4 $7,292,453.93 $28,599,475.37 5 $7,483,578.83 $36,083,054.20  

error: Content is protected, Contact team if you want Free paper for your class!!