Posted: February 14th, 2017

Propose potential ways to keep costs under control while maximizing the benefits of your economic initiative and ensuring that it remains ethical and culturally equitable

Business Case for a New Economic Opportunity

Professional Context
As a Master’s level health care practitioner you are expected to consider a number of factors when analyzing the feasibility of a new initiative. For example, you need to keep in mind the various types of risk (such as patient safety, physical plant, financial, or reputation), as well as the present and future value of the service line or economic opportunity into which you are investing resources. You also must balance the competing considerations of your ethical and moral responsibility to provide quality care to patients and populations, while also protecting your care setting’s assets and economic viability in the near and long terms.

Scenario
The administrative leadership of your care setting has reviewed your Executive Brief: Proposal of a New Economic Opportunity and has decided that it has merit. As a result, you have been asked to take a more detailed look at the feasibility and cost-benefit considerations of implementing your proposed economic initiative over the next five years. The administrative leaders are looking for a 3–5 page report that builds a business case for your economic initiative by analyzing ways to mitigate the risks associated with your original proposal and a completed cost-benefit analysis using the included Cost-Benefit Analysis Template, linked in the Resources.

Instructions
You have been asked to ensure that your report addresses the following. Note: The bullet points below correspond to grading criteria in the scoring guide. Be sure your work is, at minimum, addressing each of the bullets below. You may also want to read the scoring guide and the Guiding Questions: Business Case for a New Economic Opportunity document to better understand the performance levels that relate to each grading criterion:

Part 1: Risk and Mitigation Analysis
Analyze the opportunities and risks relevant to your proposed economic initiative.
Propose ethical and culturally sensitive solutions to address the risks associated with your economic initiative to ensure the future security of your care setting.
Part 2: Cost-Benefit Analysis
Analyze the costs and benefits of your proposed economic initiative over a five-year strategic outlook.
Propose potential ways to keep costs under control while maximizing the benefits of your economic initiative and ensuring that it remains ethical and culturally equitable
Address Generally Throughout Business Case
Justify the relevance and value of the quantitative and qualitative economic, financial, and scholarly evidence you used to support your recommendations throughout your report.
Communicate your business case in a logically structured and concise manner, writing content clearly with correct use of grammar, punctuation, and spelling.
Effectively support your report with relevant economic data and scholarly sources, correctly formatting citations and references using current APA style.
Submission Requirements
Length of paper: 3–5 double-spaced, typed pages (not including title page and reference list). Your paper should be succinct yet substantive.
Be sure to include a separate title page and reference list.
Your completed Cost-Benefit Analysis Template should be included as an appendix within your final business case submission.
APA formatting: Resources and citations are formatted according to current APA style.
Resources: Cite a minimum of 4–5 authoritative and scholarly resources. Be sure to include specific economic data and support as part of your cited resources.