NURS FPX 6008 Assessment 2 Attempt 2 Developing a Business Case EZ

Recommending self-care and follow-up visits to physicians can help pateints to extend beyond congruent attitudes and behaviors and enable them to work positively in a cross-cultural situation. Therefore, using culturally-competent techniques can reduce ethnic disparities and linguistic barriers through education and training can change the costs of next five years. Moreover, ethical behavioral changes can lead to appropriate services give to minority groups’ employees to achieve better health status. The quality healthcare outcomes will increase revenues, economic benefits, and mutual respect (Lee, 2020). 

Economic Costs and Benefits of a Proposed Initiative over a Five-Year Period

We performed a cost benefits analysis of the new healthcare initiative by taking into perspective the 5-years horizon of the new organization. The primary goal was to find the net financial advantage and cost over five years, whereas, the secondary benefit is to determine whether the total benefits outweigh the total costs in the excel sheet (Jennings, 2011). The implementation of the new healthcare initiative in the PMC shows that there has been a significant positive financial return on the investment made lately by the healthcare organization. 

The excel data shows that the total costs of the new healthcare initiative for the current year as well as for the next five years is expected to be a total of $              515,559.33. Moreover, on the estimated average of 400 new patients paying $200 per week, the total benefits or revenues earned by the organization would amount to $21,939,684.51. These costs also included changes in infrastructure and software purchases and periodic training costs of professionals. The analysis shows that the benefits expand hugely compared to costs. Therefore, the total benefit overweighs costs by the amount of $         21,424,125.18. This means that over the five years period, a significant benefit over these investments will be obtained. This evaluation criterion has also been advocated by researchers like Gilbert (2019) for lowering the costs of PMC and to support the financial and economic aspects of the initiatives. The study states that the purposeful intention of decision-makers for reducing costs of the healthcare system will help to make better connections between stakeholders and will solve complex language and economic issues. 

Moreover, the salaries costs of nurses and managers also show that the starting salaries of nurses were $28.11 an hour or around $5000 per month. Moreover, the salaries of hospital managers and leading individuals are around $49563 per year. The construction and setting up of the new hospital would cost around $400,000. The hospital would also buy some new furniture like tables, chairs, and cupboards and other furniture items. The revenues are broken down in the following way: (Medicaid 12.8 and Medicare 21.8%+Care earning 66.5%). This includes in-patient revenue with the number of beds occupied. This also includes the patient registration and verification; any claim submissions and reimbursements.