Reducing Hospital Length of Stay Essay

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Healthcare ManagementThe purpose of this paper is to discuss the project design, methods, and budget related to the DNP practicum practice change project in the healthcare management field. The practice change aims to reduce readmission rates, reduce hospital length of stay, and improve patient satisfaction. Specifically, the paper will focus on the organization philosophy, vision statement, mission, business model, and stakeholders involved in the project. The paper will also define various terms related to the budget and revenue, expenses budget, and direct and indirect costs associated with the issue being tackled in the project. Finally, the paper will discuss the method of strategies that will be employed to promote the clinical practice change to key stakeholders in the finance department.Section One: Project Design FoundationThe organization of choice for the DNP practicum practice change project is ABC Healthcare. The organization philosophy is to provide high-quality healthcare services to patients while keeping their satisfaction and well-being as the top priority. The vision statement is to be the leading healthcare provider in the region, while the mission of the organization is to improve the health and well-being of the communities they serve.The strategic planning in the organization is managed by the executive team, which includes the CEO, CFO, and CMO. The business model of the organization is a fee-for-service model, where patients pay for the healthcare services they receive.The key stakeholders who will be involved in discussing the needs to implement the practicum project, specifically the expenses and budget related to the project, are the finance department, the operations team, and the clinical staff.The DNP practicum project aligns with the organization philosophy, vision statement, and mission of the clinical organization by focusing on improving the health and well-being of patients through a clinical practice change that enhances patient outcomes, satisfaction, and quality of care via the reduction of readmission rates and hospital length of stay. Readmission rates and hospital length of stay are factors that can determine or affect patient satisfaction, and practice change can be a way to improve satisfaction by reducing readmission and length of stay (Chen et al., 2020).Section Two: Budget and RevenueDefinition TermsIncremental budget: An incremental budget is a budgeting approach where the current year's budget is based on the previous year's budget, with adjustments made for any changes in the upcoming year (Beredugo et al., 2019).Zero-based budget: A zero-based budget is a budgeting approach where all expenses must be justified for each new budget cycle, regardless of whether they were included in the previous budget (Al-Attara et al., 2020).Fixed or variable budget: A fixed budget is a budgeting approach where expenses are predetermined and do not change, while a variable budget is a budgeting approach where expenses can change based on the volume or level of activity (Chi & Hu, 2021).Operating budget: An operating budget is a budget that outlines the expected expenses and revenues for the day-to-day operations of the organization (Anderson et al., 2020).Revenue budget including capitation, negotiated rates, reimbursement of a predetermined amount: A revenue budget is a budget that outlines the expected revenues for the organization, including capitation payments, negotiated rates with insurance companies, and reimbursement for a predetermined amount of services (Adhikara et al., 2022).

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Revenue projections: Revenue projections are estimates of the amount of revenue an organization expects to generate over a given period of time.Fixed costs with an example: Fixed costs are expenses that do not change regardless of the level of activity, such as rent, salaries, or insurance (Kauffman, 2020).In the context of this DNP practicum project, budget refers to the estimated cost of resources required to implement the practice change. Revenue, on the other hand, refers to the income generated by the healthcare organization, which can be used to fund the project.Expenses BudgetThe expenses budget for…

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…emphasize how the project aims to improve the health and well-being of patients, which is in line with the organization's mission. I would highlight how the project supports the organization's vision of being the leading healthcare provider in the region, by promoting quality care and positive patient outcomes.ConclusionIn conclusion, this paper has discussed the project design, methods, and budget related to the DNP practicum practice change project in the healthcare management field. The project aims to reduce readmission rates, reduce hospital length of stays, and improve patient satisfaction by implementing a clinical practice change. The paper has focused on the organization philosophy, vision statement, mission, business model, and stakeholders involved in the project. It has also defined various terms related to the budget and revenue, expenses budget, and direct and indirect costs associated with the issue being tackled in the project. The paper has also emphasized the importance of aligning the project with the organization's philosophy, vision, and mission, as well as involving key stakeholders in the project.Additionally, the paper has discussed various budgeting approaches and highlighted the need to estimate direct and indirect costs associated with the project. The revenue generated by the healthcare organization can be used to fund the project, and the project team can explore external funding sources such as grants to supplement the organization's revenue.Finally, the paper has discussed the method of strategies that can be employed to promote the clinical practice change to key stakeholders in the finance department. It has suggested using a concise and evidence-based approach to explain the issue being tackled and its relevance to the organization's financial goals, presenting data and evidence to support the change, and involving key stakeholders in the decision-making process. Overall, the successful implementation of the clinical practice change can result in reduced healthcare costs, decreased hospital length of stay, lower readmission rates, improved patient satisfaction, enhanced reputation for quality….....

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