Quality Decision Making: Cost-Benefit Analysis

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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:

  • Quality.
  • Patient safety.
  • Risk management.
  • Regulatory standards.
  • Compliance.
  • 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.

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