For this assignment, evaluate and analyze the cost and benefit data you developed for the discussions in this unit and Unit 5. Remember that your cost-benefit analysis must relate to one of the following topics:
- Patient safety.
- Risk management.
- Regulatory standards.
- Patient and stakeholder satisfaction.
Note that an effective cost-benefit analysis cannot be conducted in a vacuum and risk management cannot be effectively implemented within a silo (Youngberg, 2011). Rather, savvy health care leaders consider each cost-benefit analysis within the larger context of industry trends, regulatory requirements, organizational strategy, organizational capacity, and so on.
For this assignment:
- Enter the cost and benefit data you developed for the cost-benefit analysis discussions into the cost-benefit analysis template, linked in the Resources.
- Write a paper in which you do the following:
- Describe the organizational or program/department issue for which you have created the cost-benefit analysis.
- Evaluate the cost versus benefit according to the general guidelines outlined by Plowman’s 2014 articles you read in the preparation for this assignment.
- Make a recommendation as to whether the benefits are sufficient to outweigh the costs of proceeding.
- Describe the systems-based context for your recommendations, integrating the cost-benefit analysis within the organization as a whole.
- Describe how the issue relates to the organization’s vision, mission, and strategic direction.
- Provide a rationale that explains how your recommendations are appropriate for your organization’s capacity and strategy.