NHS FPX 6008 Assessment 3 Attempt 1 Developing an Implementation Plan

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Implementation Plan for a New Economic Opportunity

NHS FPX 6008 Assessment 3 Attempt 1 Developing an Implementation Plan, Master’s level nurses are often given the assignment to prepare capital and operating budgets for enabling the management to create implementation plans. These plans help professionals to envision future needs and improvements in their healthcare organizations (Grossman et al., 2019). This report aims to propose a viable budget for material, staffing, and capital costs over the first five years of the new economic initiative. It also analyzes the impact of the budget on the organization and the effects of environmental changes on the initiative. The new initiative Ecosave was proposed to improve urgent care facilities for the employees of Vila Healthy Hospital and the surrounding community. The new initiative expects to deliver timely and patient-focused healthcare services to the community to reduce healthcare inequalities. 

A Budget for Expected Costs and Earnings

The management believes that the new Ecosave economic and healthcare initiative will play a strategic role in improving the revenues of Vila Health Hospital. The implementation plan includes preparing a 5-year budget for Ecosave by professional and experienced nurses to improve the projected revenue and the expenses. This budget runs on the assumption that the establishment of Ecosave medical center will be fully accomplished over the period of five years and this budget will provide insights of revenue and expenses for the five years. For example, the expenditure is measured by multiplying the expected patient volume by the physicians’ consultation charges. The management has estimated that almost 360 new patients are expected to arrive at Ecosave per week to contribute to its revenues. 

NHS FPX 6008 Assessment 3 Attempt 1 Developing an Implementation Plan

Moreover, the company is expected to earn almost $160 per patient per visit that totals the revenue for the first fiscal year up to $2,731,000. The Ecosave’s total revenue is expected to grow by 5.4% per year with operating expenses including salaries of professionals, utilities expenses, insurance and miscellaneous expenses (Pezzuti et al., 2017). For the first three years, the staff salaries would amount to almost $232,100 while nurses and physicians will be paid salaries up to $112,000. The medical assistants will be paid $35,000 per year while in the fourth and fifth years, new nurses and staff will be hired to cope with the increasing volume of patients. This will include a full-time nurse practitioner along with another full-time physician; they will be paid salaries based on 2.8% per annum estimated actual growth rate of salaries. 

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The utilities expenses would increase almost 5% per year; the operating expenses would be 13% of the annual revenue recorded for the company. Hence, the total expected expenses and the capital cost for the new initiative can be around $350,000. The company will arrange this cost through its cash in hand, liquid assets and revenue reserves; while, another way of fulfilling these expenses include a bank loan for the 50% payment of these expenses. This shows that Ecosave will need to apply for a bank loan of almost $176,000 to make this initiative economic and viable. The interest rate can be up to 7% per annum for the five years of loan payment and the company has to pay almost $41,580 per year to the bank.

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Implementation Plan for the Achievement of Quality 

Using ethical and culturally equitable strategies, the organization can help to create an implementation plan for this new budget to achieve the quality and service improvement goals. The management has research some implementation strategies to not only control the costs of the firm but also avoid the wastage of supplies and liquid assets to improve quality. To keep the costs under control. For example, the professionals have used the integration of a modified SERVQUAL scale using the Kano framework that helps to improve and prioritize the quality characteristics of the organization.  This model is particularly useful because it allows professionals to use their skills and insights to base their findings on nationality. This allows them to use an analysis grid to ensure improvement initiatives are applied to prioritize areas of improvement. These attributes show that different nationalities behave differently according to their views, beliefs, and cultural values (Pezzuti et al., 2017). This allows to improve the perceived service quality by providing strategic quality enhancement methods to meet the needs of culturally diverse people. 

Moreover, nurses and doctors are advised to send automated health reminders to clients and their families. In Ecosave, it is vital because to ensure untreated and mentally depressed patients. The strategy is to incorporate the element of fairness and empathy to improve the quality of care and help patients to increase their trust on the professionals. These policies will help to enhance the safety of patients in the long run and will also educate and train nurses to comprehend the factors to motivate patients. This means that master’s level nurses should advise the management to use the hospital’s resources equitably to help them implement culturally equitable strategies to improve safety and quality. 

Moreover, according to the study of Miller (2022), the inequities can exist in healthcare systems which require professionals to scrutinize the outcomes of healthcare. They must apply the ethical, moral, and equitable strategies and rules to deal with different cultural and economic issues to remove injustices in the organization. The goal is to integrate the inequities in health care system with quality improvement through culturally sensitive strategies. This means that professionals must take into consideration the population by age, gender, race and socioeconomic status to provide the best quality of care. This includes providing care with equity that does not vary in terms of discrimination and personal characteristics of the patients. This will help to meet their needs according to their values.  

The Impact of the Proposed Initiative

The budget for the five years shows that the company will earn a cash surplus during the first 5 years.  Through the new economic and healthcare initiative Ecosave, the organization will be able to improve the positive outcomes in the care settings and will also reduce the negative impacts that should be mitigated. These mitigation strategies would significantly impact the quality of care and equitable services provided to all the clients in a professional manner (Grossman et al., 2019). 

NHS FPX 6008 Assessment 3 Attempt 1

Furthermore, the creation of this new economic initiative will benefit the community and will help Vila Health organization to improve its own quality of service and reduce disparities. For example, the creation and successful operation of Ecosave will help professionals to offer services that injured and mentally depressed patients need urgently during an emergency. This hospital will also serve as a comminute-based service center to offer the vital healthcare services for patients with long-term illnesses. This means that the ratio of diseases in the community such as diabetes type 2, depression, anxiety, or cancer will reduce with the new implementation of the plan.  The professionals will also ensure that they offer the quality routine but essential processes for their patients such as kidney dialysis and X-ray screenings. Therefore, this initiative will definitely help the organization to allow the staff to offer better and customized care services to patients. This will help the staff and the patients to work together and improve outcomes. 

Finally, the new initiate will also help the community and the organization in other ways. For example, the people living in that vibrant community will also develop a good sense of belonging; this will allow professionals to reduce the risk of mental health issues and will also lower the ration of heart diseases and mortality in the same geographical region or the area (Dekker et al., 2020). This will contribute to the overall health improvement of the employees as well as the patients.

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Strategies for Ensuring That the Proposed Initiative Can Remain Viable Asset

In terms of measuring the negative consequences of this new economic opportunity, the fact remains that the hospital industry in the United States is also consolidated substantially for the past three decades and the growth rate is still increasing since 2000 (Danzer et al., 2019). Several scholars have conducted studies to measure the adverse impacts of creating new medical centers and creating partnerships and mergers. These studies state that there are negative effects on the quality of care of medical centers as well as costs paid by the patients. Hospital mergers and expansions can generate some worse or negative patient experiences; for example, there can be no vital changes in the mortality rates of Vila health Hospital for the first two to three years due to low performance of Ecosave. Changes in inflation in the country and other catastrophic events such as floods can also adversely impact the achievement of positive goals. 

NHS FPX 6008 Assessment 3 Attempt 1 Developing an Implementation Plan

The management has decided to create a contingency plan for the hospital and Ecosave (the new initiative) that can help to make the initiate more viable in the long run. The sustainability of the project is the single most important concern for the management. Master’s level nurses suggest that it is vital for the organization to specify the processes to recover electronic healthcare records EHR systems in the long run. This means that due to any calamities and uncertain events, the professionals must have access to the backup copies of the company’s EHR data. This will allow nurses to even perform better during the time of a disruption (Conley et al., 2021). Moreover, this evaluation offers vital information regarding the status of hospitals’ contingency plans. This strategy will also help the management to change their current strategies and policies to reduce threats to their electronic health information systems.

Besides, the medical center may have to bear some operating losses due to significant patient turnout in the first two years (Chong et al., 2018). Since the aging population is increasing in hospitals and that requires more facilities to ensure quality of care for the senior people, in the coming years, Ecosave will have to increase its budget on buying new equipment to keep this initiative more sustainable and viable. The workforce must increase in addition to medical healthcare facilities. This means that investment will be need for expanding the construction of the existing building to create more units, emergency departments, nurses’ rooms, and operation theatres. Hiring new staff would be the most important goal for the HR managers to ensure that more nurses are able to conduct evidence-based research on different issues to mitigate challenges in the future. This can help the organization to finally sustain more patients and repeat customers and gain more loyalty, respect, and revenue out of this new economic and healthcare initiate. 


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