Implementation Plan for a New Economic Opportunity

Scenario

The senior management members have sent you their thanks and notes on your feasibility study for your proposed economic initiative. They have determined that your proposal has the potential to benefit the organization in both the short and long term. The last step in this process is to complete a thorough implementation plan for your proposed initiative. This plan will need to include a budget of relevant expected material, staffing, and capital costs over the first five years of the initiative (see the Resources for some examples and guides about budget planning), as well as projected earnings from the initiative for the care setting. You must also include a plan and timeline for rolling the initiative out, an analysis of how it may impact other aspects of the care setting, an explanation how it can remain viable in the face of environmental changes, and sufficient relevant supporting evidence.

In your 6–10-page plan, you have been asked to be sure to address the following. Your completed budget plan should be included as an APPENDIX within your final submission.

• Create a budget for relevant expected costs and earnings or benefits over the first five years of a proposed economic initiative.
• Propose a plan to roll out your economic initiative that will enable your care setting to successfully implement it in an ethical and culturally equitable way that will ensure achievement of quality or service improvements.
• Analyze how your proposed initiative, once implemented, may impact other aspects of your care setting and ways in which negative impacts could be mitigated.
• Explain strategies you have integrated into your proposed economic initiative that will ensure it can remain a viable asset to your care setting in the face of dynamic environmental forces.
• Justify the relevance and value of the quantitative and qualitative economic, financial, and scholarly evidence you used to support your recommendations throughout your plan.
• Communicate your business and implementation plan in a logically structured and concise manner, writing content clearly with correct use of grammar, punctuation, and spelling.
• Effectively support your plan and recommendations with relevant economic data and scholarly sources, correctly formatting citations and references using current APA style.

RESOURCES:

Economic Evaluation and Justification of Evidence

This resource provides an overview of effective methods and other aspects of economic evaluation of public health services interventions:

• The Community Guide. (n.d.). Understanding and using the economic evidence [PDF]. Retrieved from https://www.thecommunityguide.org/sites/default/files/publications/Ch11-Economics.pdf

This web page provides a step-by-step guide to conducting and economic reviews of interventions:

• The Community Guide. (n.d.). Economic reviews. Retrieved from https://www.thecommunityguide.org/about/economicreviews

This is a systematic review of nursing-related studies assessed for quality of economic evaluation methodological criteria:

• Cook, W. A., Morrison, M. L., Eaton, L. H., Theodore, B. R., & Doorenboz, A. Z. (2017). Quantity and quality of economic evaluations in U.S. nursing research, 1997–2015: A systematic review. Nursing Research, 66(1), 28–39.

This is a review of the quality of and specific challenges related the economic evaluation of medical devices:

• Kirisits, A., & Redekop, W. K. (2013). The economic evaluation of medical devices: Challenges ahead. Applied Health Economics and Health Policy, 11(1), 15–26.

This is a systematic review of interventions, revealing there is economically advantageous opioid use disorder therapy, and more economic evaluations are needed to assess the relative value of existing opioid use disorder interventions:

• Murphy, S. M., & Polsky, D. (2016). Economic evaluations of opioid use disorder interventions. PharmacoEconomics, 34(9), 863–887.

This resource discusses variations in the intrinsic costs of dialysis modalities as well as other factors, such as variation by country, available health care infrastructures, the timing of dialysis initiation, and renal transplantation:

• Klarenbach, S. W., Tonelli, M., Chui, B., & Manns, B. J. (2014). Economic evaluation of dialysis therapies [PDF]. Nature Reviews. Nephrology, 10(11), 644–652.

Quantifying Costs, Risks, Benefits, and Impact of Health Care Initiatives

This study analyzes nationally representative data in the United States regarding how people prioritize health programs for children versus older adults:

• Eisenberg, D., Freed, G. L., Davis, M. M., Singer, D., & Prosser, L. A. (2011). Valuing health at different ages. Applied Health Economics and Health Policy, 9(3), 149–156.

This resource addresses the cost and benefits of medical interventions:

• Hauber, A. B., Fairchild, A. O., & Johnson, F. R. (2013). Quantifying benefit-risk preferences for medical interventions: An overview of a growing empirical literature. Applied Health Economics and Health Policy, 11(4), 319–329.