Reference no: EM133180561

HA425-2: Apply economic concepts to the design of quality improvement plans for a healthcare facility.

Imagine that you have been asked to develop a new quality improvement program to address cost containment in your facility. Prepare a memo to the Board of Directors that proposes cost containment projects that reduce facility costs as well as improve quality.

In the memo, discuss why there is a need to balance cost containment with quality improvement. Include at least three specific rationales.

Choose at least one cost-containment strategy. Some strategies might include outsourcing services, standardizing clinical processes, reducing overhead, etc.

Describe in your memo how you will apply it to an area (pharmacy, therapies, surgery, laboratory, etc.) within the healthcare facility entailing at least three steps.

Discuss at least two ways the cost-containment strategy could adversely impact quality. Explain your reasoning.