Why is a need to balance cost containment

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Reference no: EM132948269

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.

Instructions

Question 1: In the memo, discuss why there is a need to balance cost containment with quality improvement. Include at least three specific rationales.

Question 2: Choose at least one cost-containment strategy. Some strategies might include outsourcing services, standardizing clinical processes, reducing overhead, etc.

Question 3: 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.

Question 4: Discuss at least two ways the cost-containment strategy could adversely impact quality. Explain your reasoning.

Reference no: EM132948269

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