Purpose

As a DNP-prepared leader, graduates are expected to understand basic principles of healthcare economics, financing and ethics, and understand the most common modes of healthcare financing and reimbursement mechanisms. For a business to stay operational the it must be able to practice responsible financial healthcare. A portion of the DNP thesis proposal will include the project design, method, and budget of the project. To help prepare for this upcoming step, this assignment will help set up the tone for the exploration of your project design, methods, and budget assignment.

Course Level Student Learning Outcomes (CLSLO’s)

This assignment provides documentation of student ability to meet the following course outcomes.

à   Describe basic principles of healthcare economics & financing.

à   Develop the most common modes of healthcare financing and reimbursement mechanisms.

à   Evaluate the financial aspects inherent in practice initiatives.

à   Construct practice initiatives that assist with the resolution of healthcare disparities according to effective health care management, economic, financing and ethics principles.

Program Outcomes

à   I-Integrate Scientific Underpinnings into Practice

à   II-Develop Organizational and Systems Leadership for Quality Improvement and Systems Thinking

à   III-Apply Clinical Scholarship and Analytical Methods for Evidence-Based Practice

à   VI-Employ Interprofessional Collaboration for Improving Patient and Population Health Outcomes

à   VIII-Demonstrate advanced levels of clinical judgment, systems thinking, and accountability in designing, delivering, and evaluating evidence-based care to improve patient outcome

Leadership Role-Specific Competencies

à   Demonstrate effective communication and relationship building:

-      Through the production of written materials 

-      Through collaborative relationships with DNP stakeholders 

-      Through engagement of stakeholders

à   Demonstrate knowledge of the healthcare environment

-      By demonstrating current knowledge of patient care delivery systems across the continuum

-      By demonstrating understanding of the regulation and payment issues that affect an organization’s finance

-      By articulating the organization’s performance improvement program and goals

à   Demonstrate Leadership Skills

-      By demonstrating applied critical analysis to organizational issues after a review of the evidence

à   Demonstrate Professionalism

-      By seeking input and mentorship from other in career planning and development

à   Develop business skills through financial management

-      By using business models for healthcare organizations and apply fundamental concepts of economics

Due Date: Submit to the Moodle by Saturday of the end Week 3 at 11:59 p.m. ET.

Points: This assignment is worth a total of 100 points.

Requirements

à   To complete this application, you will need to access to the Miami Regional University virtual library database. following databases: CINAHL Complete Database, MEDLINE Complete Database, LIRN, and so forth. Our Librarian is available to help on campus from Monday to Friday 7:30 am to 9:00 pm & Saturday 8:00 am to 3:00 pm. Furthermore, please read the proposed articles in the week #3 of Moodle. Feel free to use the APA template provided for this assignment in Moodle week #3. Should you have any questions, feel free to reach out to your professor, DNP mentor, or to post your question in the Q/A forum on Moodle. We are here to help. J

à   This assignment is worth 100 points and will be graded on the required components as summarized in the directions and grading criteria/rubric. This assignment will be graded on quality of information, use of citations, use of Standard English grammar, sentence structure, and overall organization based on the required components as summarized in the directions and grading criteria and rubric.

à   APA format and effective writing is required for the paper. Use your APA manual or Purdue Owl to check and correct your formatting. Use Grammarly, Tutor Source, and the grammar and spelling check on your Word Processor and criteria for effective writing to assure that your paper well written.  APA format is required, with both a title page and reference page.

à   Follow the directions and grading criteria closely. Any questions about this paper may be posted under the Q & A Forum.

à   The length of the project report is to be no fewer than four page and no greater than seven pages, excluding the title page and reference pages.

à   This paper will be submitted through Turnitin, a Turnitin similarity score of 20% or less is expected.

à   A minimum of 6 current scholarly references that are 5 years old or less.

à   The textbook required for this course may be used as a reference for this assignment but does not count towards the required minimum number of scholarly references.

Questions to be answered & Sections of the paper

Section One: Project Design Foundation

Prior to undertaking a project design, a DNP-student must first be familiarized with the strategic planning of the organization. Some critical information the student must be familiar with are the following:

-          The organization philosophy

-          The vision statement

-          The Mission of the organization

-          Who is in charge of the strategic planning in the organization?

-          What is the business model of the organization?

-          Who will be the key stakeholder to discuss your needs to implement the practicum project, specifically the expenses and budget related to the project?

How does your DNP practicum project align with the organization philosophy, vision statement, and mission of the clinical organization?

Section Two: Budget

Please research and define the following terms:

Terms related to the budget and revenue

-          Incremental budget

-          Zero-based budget

-          Fixed or variable budget

-          Operating budget

-          Revenue budget including capitation, negotiated rates, reimbursement of a predetermined amount

-          Revenue projections

Terms related to the expenses budget

-          Fixed costs with an example

-          Variable costs with an example

-          Direct costs with an example

-          Indirect cost with an example

What are the direct and indirect cost related with the issue you will be tackling as part of your DNP project?

How is the issues you are tackling affecting the revenue of the organization?

What are the potential direct and indirect saving or income if applicable, you are anticipating as a result of a successful clinical practice change?

What are the possible expenses related to implementing your clinical practice change? Think of material needed, staffing related expense, and so forth.

Section Three: Method & Strategies

After learning and reviewing crucial information related to your organization including strategic planning related-information and some of the most important terms related to budget, how will you formulate your explanations/arguments to promote your clinical practice change to key stakeholder in the finance department?

Describe in a concise manner the issue you are tackling, the relevance, the financial impact of the issue for the organization, how the project aligned with the strategic planning foundation of the organization including the mission, vision, and philosophy if applicable.

Lastly, discuss if the practice change will help the organization with recurring customer, reduce liability, and improve customers service.

** Collaborate with your DNP Mentor by discussing the method and strategies you are planning on using when interacting and engaging with your organizational stakeholders from the finance department of your organization.

Directions and Grading Criteria