Economic Theories and Principles
Your policy research and organizational analysis should answer the following prompt: What is the relationship between economic policy changes, the market, and availability of healthcare? How does this relationship impact specific organization? Why do organizations in healthcare utilize economic and financial theories to guide strategic planning, and how do these actions impact disparities of care? Specifically, the following critical elements must be addressed: You may copy and paste your Milestone 1 & 2 information into the paper and then REVISE the sections based on your SPECIFIC FEEDBACK. Your examples may use your facility.
Introduction: What is the purpose, scope, and subject of your report? 3-7 sentences in length, just a general overview of what the paper will discuss.
II. Economic Theories and Principles: from milestone 2 Main heading centered Should look like this but black colored font: Economic Theories and Principles
A. Economic Disparities: Analyze the relationship between the financial well-being of the industry and availability of healthcare, in consideration of market and demand theories. How does the health care (HC) industry react to market and demand theories? This is a general conversation on the topic. Should be about 2 paragraphs long with example [A-C are subheadings and are left justified- remove the Roman numerals]
B. Economic Theories: What economic theories are most useful when applied to the healthcare industry and why? What top 1 or 2 economic theories help to make HC better? How can HC use economic theories to be more productive?
C. Use of Economic Principles: Why do organizations utilize economic principles to guide strategic short-term and long-term decision making? What is the decision-making process using the theories mentioned above? What is the rationale for using economic principles for the decision-making process? Example: how does the demand theory impact the actual decision-making process for the VPs making the decision- what is the decision-making process? Then provide a short example.
III. For-Profit and Nonprofit: from milestone 1 & 2
A. Financial Differentiation: What differentiates for profit and nonprofit healthcare organizations financially? What characteristics of each type of healthcare organization make the organizations different? Discuss profit and non-profit in 2 separate paragraphs containing the definitions, which need cited, the differentiation and characteristics of each.
B. Economic Differentiation: What differentiates for profit and nonprofit healthcare in terms of economic policies and legislation? What key recent and current economic policies impact each? Again- 2 separate paragraphs, 1 for for-profit, one for non-profit and answer the questions- how does economic policy and legislation affect each entity? What is a RECENT policy or legislation that has impacted HC and what is that impact? You may use an older legislation and then add in a newer one to show the impact of the legislation. For example- Regan passed a lot of legislation- the original legislation has been changed over time especially with the American Health Care act- so what was the change and the impact?
IV. Policy, Changes, and Disparities: from milestone 2
A. Economic Policy and Disparities in Care: Using current research and information (within the last five years), analyze the relationship between economic policy and disparities in care. How are they connected? How do they differ? Needs to be 2-3 paragraphs in length because it is a lit review section. Define and cite economic policy and disparities, then discuss the connections and differentiation- what is the difference between policy and a disparity?
B. Policy Changes: What impact do recent legislative changes have on healthcare economic policy in general? How does legislation, such as the American Health Care Act, CMS rules for readmission and ulcer care have on health care economics? How does policy affect the monies bottom line? Is there another or other effect legislation has on health care?
C. Disparities Planning: Why are disparities of care factored into healthcare strategic planning? Explain your reasoning and provide examples for support where appropriate. What is strategic planning? Then how is this plan affected by caring for community disparities? What elements factor into the decision-making process? Provide a detailed example.
V. Organizational Impact and Recommendations: from milestone 1
A. Organization Introduction: What organization is the focus of your report, the subindustry or type of organization it belongs to (home care, hospital, etc.), and what is the financial background of the organization? Introduce your organization
B. Nonprofit or For Profit: Is the organization you selected a nonprofit or a for-profit? What differences will this make in terms of economic policy impact?
What is your organization? How is this status affected by economic policy?
VI. Financials, Market, and Demand: from milestone 2 & 3
A. Demand Theory: Explain how demand theory is reflected in the organizational financial statements. Define and cite- summarize evidence of how the demand theory affects HC in general and then specifically to your organization
B. Market Behavior Impact: Explain how and why market behavior affects the financial statements at various times throughout the calendar year for your organization. Define and cite- summarize evidence of how market behavior affects HC in general and then specifically to your organization
VII. Economic Legislative Changes: from milestone 2 & 3
A. Legislative Changes: Considering the economic and legislative changes you researched, what changes are most likely to impact your organization, and why? Reviewing milestone 2 choices, discuss which legislative and economic choices will impact your organization- what might be that impact? -remember legislation is passed by Congress- the details or Policy changes are the more finite details of the legislation that was passed. So legislation is in a broader more abstract form of discussion. Then the next section- policy change is more narrow and more concrete and an example can help with the impact.
B. Policy Changes and Impact: Considering the legislative changes and type of organization you have selected, what possible organizational policies may result? Discuss the possible resulting policy changes that may occur within the organization. What is, or will be, the impact of these policy and legislative changes on your organization? What is the effect of the policy change? What are the possible ripple effects from the change? And the impact?
C. Statement Impact: In what ways would you expect to see the financial statements to be impacted because of these changes, and why? How does the policy change affect the monies bottom line for your institution? Give an example
D. Potential Disparities: Would the legislative changes cause disparities in care that could further impact your organization, or that your organization could plan to combat? How would you recommend planning for these? Provide keen insight into the ever-changing HC market. How can HC keep up? What might be an unpredicted impact of legislation on your organization? What are your recommendations for your organization to stay abreast of the fluctuating HC market? For example: The senate is now looking at the Affordable Health Care Act- how can your institution prepare for possible changes from future legislation?