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NURS FPX 6008 Assessment 1 Attempt 1 Proposing a New Initiative EZ

Proposing a New Initiative

NURS FPX 6008 Assessment 1 Attempt 1 Proposing a New Initiative EZ

The duty of master level healthcare nurses is to continuously assess the demand and supply of services to ensure quality. This report is crucial for the leaders to have a strategic direction to use internal available resources and align organizational strategy with them through a new initiative of healthcare. The economic activity in the neighborhood is ample to provide cultural and economic improvements to employees of Prime Medical Center (PMC) in the United States. It is recommended by the leaders to find an economic opportunity to ensure that the professionals are able to offer services according to ethical and culturally equitable standards (Gandaki, 2018). This practice can help to take advantage of the economic data and provide an analysis of the prospective benefits.

NURS FPX 6008 Assessment 1 Attempt 1 Proposing a New Initiative EZ

Why Proposal of New Economic Opportunity 

The current repot will help leaders to examine the overall direction of their organization and make viable decisions for improving service offerings. Each decision can have short and long-term economic impacts. The current scenario aims to examine the Prime Medical Center (PMC) economic opportunity that provides care to the community members and it will help the management to make good decisions. For example, SmartHealth is selected as a healthcare organization that offers instant service without a scheduled appointment. It treats mild to severe injuries. The vital attributes considered for SMARTHEALTH include wait times, excessive workload and long working hours, and costs. Almost 2500+ are served by the organization located near Circular Industrial Park at SMARTHEALTH. Patients having cuts, abrasions and minor burns are all able to get services including treatment of abdominal pain and respiratory problems (Rodrigues, 2020). The emergency department handles the cases that are severe which leads to overcrowding of patients. This reduces the affiance of nurses. Since the organization is establishing an Urgent Care Center PMC, it will allow the center to achieve its vision of improving community’s health. 

NURS FPX 6008 Assessment 1 Attempt 1 Proposing a New Initiative EZ

The newly established services will help the community to get immediate medical attention. The patients cannot walk in without an appointment and get after-hours health care services seven days a week. Therefore, the SMARTHEALTH will significantly help to improve the ED performance by considering critical or life-threatening problems of patients. The costs of infrastructure are also comparatively low for setting up the SMARTHEALTH that will also reduce the overall costs of the hospital that makes SMARTHEALTH is an affordable mean of getting quality healthcare services.  This will allow the company to generate a better income by employing various physicians. However, many physicians cannot know their patients well to receive the same quality of care (van der Putten, 2015). Moreover, wait times of SMARTHEALTH are less than ED, but hiring more staff at SMARTHEALTH will make more expensive.  

Economic Factors and Supply and Demand Associated with the Initiative 

At micro and macro level, the SMARTHEALTH initiative is a volume-driven organization that depends on economic and environmental factors. For instance, the environmental factors or information includes the reputation of PMC has been superior in the absence of quality healthcare organza tons in the area. The SMARTHEALTH provides a great walk-in facility to Circular Industrial Park. This helps employees to commute easily to their workplace. There are several departments at the industrial park. The benefit of having SMARTHEALTH is that injured workers in the manufacturing department can come easily to the SMARTHEALTH that severs employees’ physical disparities on weekdays and weekends.  The project’s cost is estimated to be around $400,000 that constitutes the finances required for manufacturing, tools, equipment, and furniture, etc. However, the land cost will be minimal due to being built within PMC’s premises. The organization will get benefit from bank loan to arrange half of its funds. The revenues are expected to grow with more than 350 patients per week who pay a consultation fee of around $200; these stats show that the organization will earn amazing cash surplus in the first five years. Therefore, in economic and social terms, the demographic data shows that SMARTHEALTH will be an economically stable firm

The Relevance and Viability of the Economic Data 

. Moreover, the demand and supply analysis show that the urgent care expenses are set aside for 3,000 locals who will benefit from SMARTHEALTH at PMC. Hence, the absence of many good healthcare facilities gives a great advantage to SMARTHEALTH to meet the needs of employees in the industrial park. Due to this issue, the issue of overloading of the emergency department can occur frequently due to rising volume of injured patients. The doctors also have to focus on mild issues which can limit their ability to treat critical cases and life-threatening patients. However, the positive economic outcome is that the establishment of SMARTHEALTH within PMC is a positive effort for bridging the supply–demand gaps to ensure that the quality is not compromised (Rodrigues, 2020). 

NURS FPX 6008 Assessment 1 Attempt 1 Proposing a New Initiative EZ

The supply and demand data shows some uncertainties as well; for instance, the operations of the organization can become successful on receiving timely approval of bank loans that will also rely on the approval of the BODs (board of directors).  The BODs will allocate funds to improve these initiatives; moreover, SMARTHEALTH’s awareness in the community and the neighborhood (Gandaki, 2018). Therefore, some patients may find it difficult to use SMARTHEALTH services due to low awareness that may reduce company’s revenues. Moreover, increased workload and rising volume of patients will also put more burden on the emergency department to provide high-quality and cost-effective service to the patients. Therefore, the overall viably of the initiative will be high despite some uncertainties and knowledge and awareness gap issues. 

Conclusion 

Patients strive for an affordable care with quality healthcare services. The pateints at the newly established SMARTHEALTH medical center need a schedule that does not need appointments and is likely to benefit the patient’s after-hours of care. Also, the SMARTHEALTH will bring in additional revenue for the PMC medical center in terms of rinsing number of patients due to no similar organization in the vicinity. Hence, the initiative of SMARTHEALTH partnership initiative will bring several lucrative economic benefits despites some knowledge gaps and ED workload issues. 

References

Gandaki, D., Giannakis, E., Poser, A., & Believed, J. (2018). Estimating health and economic benefits of reductions in air pollution from agriculture. Science of the total environment622, 1304-1316.

Rodrigues, C. M., & Plotkin, S. A. (2020). Impact of vaccines; health, economic and social perspectives. Frontiers in microbiology11, 1526.

van der Putten, I. M., Evers, S. M., Diagonal, R., Jit, M., & Hutu Bessy, R. C. (2015). Stakeholders’ perception on including broader economic impact of vaccines in economic evaluations in low- and middle-income countries: a mixed methods study. BMC public health15(1), 1-11.

Ward, Z. J., Scott, A. M., Ericka, H., & Atun, R. (2021). Global costs, health benefits, and economic benefits of scaling up treatment and imaging modalities for survival of 11 cancers: a simulation-based analysis. The Lancet Oncology22(3), 341-350.Ward, Z. J., Scott, A. M., Ericka, H., & Atun, R. (2021). Global costs, health benefits, and economic benefits of scaling up treatment and imaging modalities for survival of 11 cancers: a simulation-based analysis. The Lancet Oncology22(3), 341-350.

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