Executive Brief: Proposal of New Economic Opportunity
Setting up a mobile clinic for veterans will improve their access to counseling services. They can access readjustment services at the mobile clinics. Mobile clinics help serve populations in rural American who do not conveniently access healthcare services (Yu et al., 2017). Besides, veterans in rural areas will receive counseling for diverse conditions including sexual trauma that most experience (Kimerling et al., 2010).
Multiple chronic conditions experienced by veterans demand regular healthcare management as noted by Balbale et al. (2016). The mobile clinic will help transport veterans having chronic conditions get to their appointments. They will respond to appointments for foot checkups or eye appointments. Assisting veterans to return to appointments will address the concern of high cases of acute health conditions. It will also help follow up on the circumstances of veterans’ conditions.
According to the Veterans Affairs, approximately 11 in every 100 veterans who served in Operations Iraqi Freedom (OIF) and Operation Enduring Freedom (OEF) experience PTSD (U.S. Department of Veterans Affairs, 2018). Nearly 12 in every 100 veterans who served in the Gulf War experience PTSD (U.S. Department of Veterans Affairs, 2018). Veterans with PTSD conditions will benefit from the mobile clinics through the prevention of deteriorations because of their conditions. The clinic will provide essential services to veterans suffering from chronic illnesses such as diabetes and COPD. It will address war-related conditions such as the Gulf War Syndrome. It will help treat mental health conditions including PSTD. They will become essential to reduce the wait times among veterans to receive critical medical services at nearby VAs. Reducing wait time ensures veterans receive the best quality care as a demonstration of appreciation for their selfless service to Americans. Implementing the project may be hampered by financial constraints as stakeholders will highlight. Because the project will demand vans to operate, it requires a considerable budget for the purchase of the vans. The grant money will finance this budget. The grant money will be equally essential to fund staff payroll. Another financial challenge is receiving money to set up and maintain the IT that supports services offered at the clinic. The clinics must be connected to critical healthcare systems and hospitals. They have to get supplies and equipment used in maintenance. The grant funding will support all these expenses. These constitute the startup costs. Having the startup costs, the challenge will be sourcing for the money for ongoing demands.
Considering the nature of population served, it is important to note that the staff will have to deal with patients with mental health. It is particularly challenging when the team needs to address a case when the patient is in a crisis, either suicidal, aggressive or hallucinating. It, therefore, demands particular expertise. The need for more staff to assist veterans experiencing mental health challenges, a strategy that would require more resources to operate the clinic. Most clinics cite lack of staff as a challenge to the operations of the veterans’ medical clinic. Presently, many hospitals cannot give their nurses to serve as staff at the clinic. Besides, there may need to advance training for the clinic staff to perform the required roles at the clinic, a situation that necessitates extra costs and budgeting. The nature of services to be offered at the hospital will demand special equipment. Storage equipment will be the need for blood samples before the van comes back to the hospital.
Risk and Mitigation Analysis, and Cost-Benefit Analysis in Nursing
This report provides a risk and mitigation analysis, and cost-benefit analysis and considerations of implementing my proposed economic initiative titled Executive Brief: Proposal of a New Economic Opportunity. This is in line with the approval of my commercial effort by the senior management of my care setting and the management’s decision that my initiative has merit. In this regard, my report will take a more detailed look into the cost-benefit and feasibility considerations of implementing my proposed economic activity over the next five years. My statement provides ways of mitigating the risks that are associated with my original proposal, with a complete cost-benefit analysis that conforms to the Cost-Benefit analysis template that has been presented in the resources that guide this report.
In most cases, veterans suffer from health-related issues that require appropriately designed mechanisms to facilitate the sustainability of their conditions. As indicated in the proposed economic initiative, the establishment of mobile clinics is a strategy that can help improve the access of veterans to counseling and readjustment services. Mobile clinics can ideally help to serve veterans who live in the rural areas of America. Notably, doctors and other specialists who offer mobile clinic services can provide counseling for various conditions that affect veterans including sexual trauma, diabetes, Chronic Obstructive Pulmonary Disease (COPD), foot problems, Gulf War Syndrome, eye problems and Post-Traumatic Stress Disorder (PTSD).
Establishing mobile clinics and implementing the project may be hampered by financial constraints and other risks. In this regard, these reports find that analyzing the risks and opportunities will likely help in facilitating the initiative. This report provides costs and ethically sensitive solutions, promotes understanding of the benefits of the proposed action, proposes potential ways for keeping costs under control, justifies relevance and value of qualitative and quantitative economic, financial and scholarly evidence that supports recommendations throughout the report.
Risk and Mitigation Analysis
According to Hauber et al. (2014), resolutions concerning the guideline, purchase and the use of therapeutic and medical involvements requires a proper assessment of the balance that exists amid the benefits involved and the risks associated with the initiative. Such assessments provide the basis for two key challenges, including the measuring the clinical efficiency and the damages that are allied to the cure and control of the problem at hand and the determination of the relative importance of the varied outcomes.
As outlined in the economic initiative, the establishment of mobile clinics for veterans will increase their access to psychotherapy services. Veterans living within the rural populations in America will be able to receive counseling services to diversified conditions such as sexual trauma that affects most veterans. Naturally, mobile clinics are designed to provide transport for veterans suffering from diverse chronic conditions to their respective appointments. Within the same regard, the mobile clinics provide an effective means to help veterans access their appointments and reduce the high cases of other acute health conditions. For veterans suffering from PTSD conditions, mobile clinics help to prevent deteriorations that are caused by the veterans’ conditions. Most veterans suffering from chronic illnesses such as diabetes and COPD acquire essential services provided by mobile clinics. Other states such as Gulf War Syndrome and mental health conditions like PSTD can be adequately addressed through the mobile clinic services.
Unsustainable circumstances may hamper the provision of health care series through the establishment of mobile clinics. Hauber et al. (2014) argue that the determination of a patient’s willingness to accept risks that are related to treatment in exchange for the benefits associated to the procedure itself often becomes a significant challenge. This is because the subjective judgment of the individual and other decision-makers, some of whom may draw different assumptions concerning the ideal stability that exists between the risks involved and the likely benefits that the individuals may acquire in the end. In most case, the establishment and maintenance of mobile clinics are hampered by financial constraints. It requires the purchase and maintenance of vans to facilitate its operations. Acquiring money to fiancé the services provided by mobile clinics may be a menace, and therefore, lack of adequate finances may lead to the collapse of services offered and subject veterans to suffering and even death. Dealing with patients suffering from mental illnesses may compromise the services provided by doctors and other medical personnel. In various instances, veterans suffering from hallucinations, suicidal or aggressive crises may be difficult to control. In such circumstances, the injured veterans may compromise the provision of healthcare mobile clinic services, mainly when the patient is being transported to better medical facilities by a few doctors.
Employing more qualified staff is an essential solution especially where the number of veteran patients exceeds the number of available doctors and other medical personnel. Provision of adequate capital by both the regional and national government will help facilitate the provision of appropriate medical care to the veterans. With the growth in both science and technology, enough resources should be allocated to promote research aimed at finding better medical solutions to veterans suffering from varied conditions and illnesses. Additionally, doctors, nurses and other medical practitioners should be provided with adequate training on how to attend to veterans suffering from various diseases. This will help avert catastrophes caused by improper handling of patients by unqualified medical personnel.
According to Bush et al. (2018), the costs of a program forms part of the first step used in the economic evaluation of a program or project. Within the same breath, financial costs include the resources spent during the implementation of a program such as medical care for veterans. Economic losses, alternatively referred to as opportunity costs, comprises of the lost benefit value, especially when a given resource is unavailable for its appropriate use. Boardman et al. (2017) argue that benefit-cost analysis as a type of monetary appraisal that relates the costs of a policy, program or intercession to its relative benefits or outcome which are converted into dollars. According to Mukerji et al. (2017), cost-effectiveness analysis articulates issues in a unit of natural health of a patient, for example, the number of successful prevention mechanisms for veterans suffering from cardiovascular diseases or the number of lives saved.
Costs Year 1 Year 2 Year 3 Year 4 Year 5
Transportation -65,000USD -60,000USD -61,000USD -61,200USD -62,000USD
Staff -60,000USD -62,000USD -61,000USD -62,800USD -63,000USD
IT and Storage Equipment -50,000USD -40,000USD -43,000USD -41,000USD -38,000USD
Medical Supplies -48,000USD -47,000USD -47,500USD -46,000USD -45,900USD
Total Costs -223,000USD -209,000USD -212,000USD -211,000USD -208,900USD
Discount Rate (15%p.a) 0.87 0.76 0.66 0.57 0.50
Present Value of Costs -194,010USD -158,840USD -139,920USD -120,270USD -717,490USD
Cumulative PV Costs -194,010USD -352,850USD -492,770USD -613,040USD -313,350USD
Transport Benefits 30, 000USD 31,000USD 32,00USD 33,100USD 33,300USD
IT and Storage Equipment Benefit 45,000USD 45,200USD 45,600USD 45,500USD 45,900USD
Medical Supplies Benefit 60,000USD 60,200USD 60,300USD 61,000USD 61,500USD
Staff Benefit 43,000USD 43,200USD 43,600USD 43,700USD 44,000USD
Total Benefits 178,000USD 179,600USD 181,500USD 183,300USD 184,700USD
Discount Rate (15%p.a) 0.87 0.76 0.66 0.57 0.50
Present Value of Benefits 154,860USD 136,496USD 119,790USD 104,481USD 92,350USD
Cumulative PV Costs 154,860USD 291,356USD 411,146USD 515,627USD 607,977USD
Fig1: Cost-Benefit Analysis for Veterans in America
In Fig1, the costs incurred in providing medical care to veterans in America have a negative value. This is because the costs represent the expenses used to facilitate the provision of affordable medical care to the sick veterans through the mobile clinic program. Notably, the benefits have a positive value to indicate the monetary accruals that were realized as a result of the mobile clinic program. Both the increasing costs and benefits represent the annual sums of the respective costs and benefits used during the implementation and use of the program throughout five years. Transportation, staff, IT and Equipment and medical supplies values should be maintained at constant rates throughout the years to facilitate the accumulation of profits. Proper maintenance of equipment helps to reduce the costs used in purchasing new equipment. Accrued benefits should be used in other development projects and support the provision of quality medical care to veterans suffering from various illnesses. By maintaining equipment and recruiting more staff, the provision of services to the sick to be stabilized.
Creates a budget for relevant expected costs and earnings or benefits over the first five years of a proposed economic initiative, and identifies assumptions on which budget is based.
Proposes a plan to roll out an economic initiative that will enable a care setting to successfully implement it in an ethical and culturally equitable way that will ensure the initiative achieves quality or service improvements. Identifies knowledge gaps, unknowns, missing information, unanswered questions, or areas of uncertainty (where further information could improve the plan).
Analyzes how a proposed initiative, once implemented, may impact aspects of a care setting and ways in which negative impacts could be mitigated, and identifies assumptions on which the analysis is based.
Explains strategies that have been integrated into a proposed economic initiative that will ensure it can remain a viable asset to a care setting in the face of dynamic environmental forces. Identifies relevant knowledge gaps, unknowns, missing information, unanswered questions, or areas of uncertainty
Justifies the relevance and value of the quantitative and qualitative economic, financial, and scholarly evidence used to support recommendations throughout a plan, and suggests criteria that could be used to evaluate the evidence.
Communicates a business and implementation plan in a logically structured, clear, concise, and persuasive manner; grammar, punctuation, and spelling are withou
Effectively supports a plan and recommendations with relevant economic data and scholarly sources, correctly formatting citations and references using current APA style. Citations are free from all errors.
These resources explore issues related to the economics of health care delivery:
Doran, C. M. (2010). Critique of an economic evaluation using the Drummond checklist. Applied Health Economics and Health Policy, 8(6), 357–359.
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.
Kirisits, A., & Redekop, W. K. (2013). The economic evaluation of medical devices: Challenges ahead. Applied Health Economics and Health Policy, 11(1), 15–26.
Mukherjee, T., Al Rahahleh, N., Lane, W., & Dunn, J. (2016). The capital budgeting process of healthcare organizations: A review of surveys. Journal of Healthcare Management, 61(1) 58–77.
These resources provide different templates for health care delivery budgets:
Danna, D. (2016). Learning and mastering the operating budget. Retrieved from http://www.strategiesfornursemanagers.com/ce_detail/213520.cfm#
California Department of Public Health. (n.d.). Budget cover sheet [XLS]. Retrieved from http://www.cdph.ca.gov/programs/cpns/Documents/CPNS-A4BudgetCoverSheet.xls
Missouri Department of Health & Senior Services. (n.d.). Budget preparation worksheet [PDF]. Retrieved from http://health.mo.gov/data/interventionmica/BudgetPreparationWorksheet.pdf
The Community Guide. (2010). Economic evaluation abstraction form, version 4.0 [PDF]. Retrieved from http://www.thecommunityguide.org/about/EconAbstraction_v5.pdf
These resources provide analyses and instructions for different health care delivery budgets:
Pritchard, G. (2016). How to develop an operating budget for a nursing unit. Retrieved from http://smallbusiness.chron.com/develop-operating-budget-nursing-unit-79824.html
Lyday, K. (2012). The value of alternative analysis [PDF]. Retrieved from http://www2a.cdc.gov/cdcup/library/presentations/alternatives/TheValueofAlternativeAnalysis.pdf
The Community Guide. (n.d.). Economic reviews. Retrieved from https://www.thecommunityguide.org/about/economic-reviews
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