respond to
the four colleagues
and critique their elevator speech by offering supporting or contrary ideas regarding their talking points and/or suggesting additional points to be made. Be specific and provide examples. two references each
Amber: “Good morning/afternoon, ladies and gentlemen. I want to introduce to you a healthcare product/service that will revolutionize patient care and improve the efficiency and effectiveness of our healthcare system. What am I talking about, you may ask? I am proposing the implementation of a patient education app that will not only help everyone but be beneficial for low health literacy patients. The app will enable healthcare providers to make informed treatment decisions, provide patient education, reduce unnecessary tests and procedures, and manage the length of stay more efficiently. The financial benefits of this solution are tremendous – reduced costs associated with longer patient stays and unnecessary interventions. While initial investments are required, the long-term benefits of cost savings and improved patient outcomes will outweigh the costs. This app can potentially make millions of dollars for this organization. Our SWOT analysis reveals the strengths of this solution, such as enhancing and improving clinical decision-making while practicing evidence-based medicine, reduction of patient hospital stays, and minimum infrastructure required to practice telemedicine. We also recognize the weaknesses, such as the initial investment required and the cost of training and education for staff, employees, or the workforce. However, we believe there are great opportunities for collaboration with technology vendors and potential revenue generation through data analytics. Of course, there are threats, such as resistance to change and data privacy and security concerns, but we are confident in our ability to address and mitigate these risks. Overall, implementing a patient education app will not only improve patient care but also provide significant financial and operational benefits for our healthcare organization. Thank you for your time, and we look forward to discussing this opportunity further.”
Yolanda: The world watched as Damar Hamlin, a young 25-year-old safety for the Buffalo Bills, suffered a sudden cardiac arrest on national television. The world also watched as trained staff jumped into action to administer cardiopulmonary resuscitation (CPR), ultimately saving his life (American Heart Association [AHA], 2023). More than 350,000 people in the United States suffer cardiac arrest each year, and more than 50% die before transporting to a medical facility (Centers for Disease Control and Prevention [CDC], n.d.). Being prepared to intervene in an emergency is critical to saving a life. The American Heart Association (AHA) Resuscitation Quality Improvement (RQI) program is the perfect addition to any organization to ensure that staff are trained and always prepared to perform life-saving measures in the most critical moments.
Cardiopulmonary resuscitation (CPR) is renewed once every two years, often without opportunities for practicing skills in between this cycle. Skills can only improve with practice opportunities, resulting in better-quality CPR administration and patient survival outcomes. Implementation of the RQI program provides staff members with simulation stations designed to give real-time feedback as skills are performed. The program requires that all trained personnel spend an average of ten minutes every three months perfecting their skills. After an initial startup cost, the annual fee is only $40 per staff member (American Heart Association, n.d.). In addition to implementing the RQI program into the school system, trained personnel will be available to provide CPR classes to the community for $50 per person. The revenue earned from these classes will cover the RQI program cost by the end of year one, and the additional income will be put toward community resources and programs. Life is priceless, and the RQI program is designed to equip staff members with the skills to save one.
Angela: Globally, 4 million patients are now requiring dialysis (Si, Hernandez-Alava, Wilkie, & Fortheringham, 2023). Many dialysis patients treating at dialysis facilities will require transportation. In a study published in Nephrology Nursing Journal,
participants reported that access to dependable transportation was necessary for them to attend their treatments and felt they could not adhere to the prescribed treatment without access to dependable transportation (Kamboj, Jackson, & Babenko-Mould, 2021).
Sell
I propose that our company provide transportation to our patients. We will begin with one clinic and a startup expense of $47,606. The enrollment goal is 15 patients with an additional enrollment of five patients each year over five years. The projected profit for this goal includes a return of investment of 57.56% in year one and increasing cash flow annually.
One of our biggest strengths is that we are starting with one clinic. This will give us an opportunity adjust the revenue as needed using a smaller budget with high returns. The higher returns will help with expansion. However, there are weaknesses. This budget is based on patient adherence. When patients miss dialysis treatments, they are at an increased risk for hospital readmissions and disrupted continuity of care (Wolfe, McDonald, & Holmes, 2020). Despite the weakness we have with patient adherence to treatment it is still beneficial to proceed with providing transportation to our patients.
Deanna: Sadly, approximately 115 Americans die of opioid overdose every day (Hargett and Criswell, 2019). Non-pharmacological therapies are considered safe, affordable, easy, and accessible therapeutic interventions (Hadoush et al., 2022). Non-pharmacological therapies are also recommended for patients with chances of developing adverse reactions to opioids.
Financial Points
According to Weiss and Jiang (2021) in 2018 the average readmission cost was $15,200 per person. By preventing pain management readmissions by one-fourth, we could prevent patient admissions costs of $1,872,000 in the first year.
Budgetary Impacts
The projected project has a high start up cost though it shows a return on investments the very first year. Unless there are some unforeseen issues this project looks to be a successful venture.
SWOT Take Aways – Strength – Having a positive return on revenue in the first year of business and staying in the positive in the following years. Weakness – Possible turnover rate of staff. The more vacancies there are on the staff the less patients can be seen and more revenue is lost on training new staff. Opportunity – Another opportunity is to invite other potential shareholders to a presentation to show the projected five-year plan to obtain a higher budget to be able to hire more staff to treat more veterans. Threats – Another pandemic like the COVID 19 crisis could greatly decrease the number of treatments performed.
Cost-Benefit Analysis Takeaways
The project is projected to start out strong by making a profit of $1,718,801 in the first year and continues to make a profit each year though the return of investment decreases between 4-6% each year.
