Feasibility Study – Healthcare related project

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Complete a
feasibility study based on a pre-approved health care project of your choice.
Using the feasibility study outlined in the Daniels and Dickson (1990) article
as a model, and including a minimum of six other relevant resources and
readings, create a 12- to 15-page feasibility study that includes the following
headings and supporting information:

Evaluating
Feasibility
The concept
of a feasibility study is central to viability, the “worth to the effort”
ratio, and return on investment (ROI). What needs to be taken into
consideration to create a feasibility study (e.g., human resources, community
needs, technological advances, federal and state regulatory issues)? 
Within this section, you will research and design an economical health care
service that is responsive to a given market. This research stems from
understanding your target population and present need in health services.
Furthermore, as you have seen from the Daniels and Dickson (1990) article, you
must appraise your human resources, capital investment, and how your effort
will yield a return on investment from your facilities perspective as well as
the intangible greater good of providing healthcare to a community. 

Strategic
Effect
Analyze the
role of public policy with regard to your project. What policies and processes
should be in place to create an effective program? How will you measure the
effectiveness of your program and your provision of health care services?
Develop a microeconomic model that is responsive to the specific health care
service demands of your target population. For example, the current trend of
the medical home model, which allows for the coordination of care, allows for
better communication among service providers as well as convenience for
patients. Is the population a market priority? How does your program serve a
need for your target population?

Market
Analysis
Within this
section you will identify the population demographics, who your competitors
are, and whether or not a real need for the services you are proposing exists
in the community. As you examine the demographic and population needs using
Census data and other reliable sources, you must also consider what
competitors, if any, exist in the present climate. This requires an evaluation
of the present socioeconomic and cultural trends influencing how people make
decisions in health care. In addition, in this analysis you will need to
compare and contrast economic challenges and incentives among health care’s
organization models. This comparison requires an understanding of past
challenges and incentives that other organizations have implemented.

Financial
Analysis
This section
includes the revenue, expenses, and net income. Compare and contrast economic
challenges and incentives by finding and describing multiple sources of public
and private funding (e.g., grants, donations, awards, special projects) for
this project. Include a reference list for your funding sources that is
formatted in APA as outlined in the Ashford Writing Center. Next, identify the
funding constraints for each source. Include limitations of monies awarded,
timing issues, fitting the needs of the funding sources, difficulties of
connecting with private funders, etc. Finally, specify the internal
ramifications of moving forward using SWOT analysis. What are the fixed and
variable costs associated with your project? What are the annual maintenance
and operation costs? Elaborate on how you arrived at your sensitivity analysis
conclusions.

Operations
Performance
This section
examines the incremental effect of how your proposed service will impact all
aspects of health services. This portion of the study explores how the
statistical data you have researched affects the proposed service in terms of
efficiency and value. This can be difficult to measure initially. However,
through incremental and ongoing evaluation of operations, you can begin to see
what constitutes the best performance in this instance and how it serves the
target population. In this section, you will further illustrate the incentives
and challenges faced by a health organization and communicate the relevance of
economics within the U.S. health care system as it pertains to your proposed
services.

InpatientIf your
proposed study has an inpatient component, this section will elaborate on
volume of patients, types of payers, and how utilization rates impact your
proposed study. In addition, you will further explain how your new inpatient
service will add value for patients and improve the financial viability of the
institution. This section will require you to use both qualitative and
quantitative data to justify the plan.  Hospitals operate in terms of how
many beds are occupied relative to how many are empty. Most CEOs want to see
that a unit is running at near full capacity and that volume is increasing year
to year. Elaborate on how your proposal will meet these demands by explaining
the data you have collected and predicting potential financial outcomes.
Finally, evaluate and explain how value-based care will impact your ability to
maintain margins within this newly proposed service.

OutpatientIf your
proposed study has an outpatient component, examine how admissions, revenue,
and workflow of staff will improve the efficiency of your proposed service.
Expound on how your outpatient service will add value for patients and improve
the financial viability of the institution. Justify your plan with appropriate
data. As stated in the inpatient section, the content here applies much the
same way. However, the caveat for outpatient services lies in the ambulatory
setting. This aspect should be most interesting under conditions created by the
Affordable Care Act. The new paradigm shift will be toward more preventative,
primary, and outpatient care settings to reduce the numbers of patients being
admitted to hospitals. Please explain how your proposal takes these conditions
into consideration. In this section, you will further compare and contrast
economic challenges and incentives among health care’s organization models in
an outpatient setting. You will also further augment your design in an economic
framework that is responsive to your market.

OutlookThis section
examines future implications of your proposed services and how they will impact
the future health outcomes of the community and financial health of the
services being provided. Analyze economic theories that are germane to the
provision of your proposed health services. What adjustments might you need to
make in terms of what the “unintended consequences” may be? For example, Baylor
Hospital in Houston proposed and spent 250 million to create a brand new
hospital that currently stands empty because it was built during the U.S.
economic downturn, the loan was no longer able to finance the construction, and
the initial examination of its necessity did not play out as expected. Provide
conclusions and implications of how your feasibility study fits within the
larger context of the system of services currently being provided. How do they
work with one another within the larger health care system? Finally, evaluate
how your study will respond to market and design models that impact the
community based on current regulatory and market needs.

Writing the Feasibility Study

  1. Must be 12
    to 15 double-spaced pages in length, and formatted according to APA
    style as outlined in the Ashford Writing Center.
  2. Must include a title
    page with the following:

    1. Title of paper
    2. Student’s name
    3. Course name and number
    4. Instructor’s name
    5. Date submitted
  3. Must begin with an
    introductory paragraph that has a succinct thesis statement.
  4. Must address the topic
    of the paper with critical thought.
  5. Must include the listed
    headings with the content required under each.
  6. Must end with a
    conclusion that reaffirms your thesis.
  7. Must use at least six
    scholarly sources that were published within the last five years,
    including a minimum of three peer-reviewed sources from the Ashford
    University Library. 
  8. Must document all
    sources in APA style, as outlined in the Ashford Writing Center.
  9. Must include a separate
    reference page, formatted according to APA style as outlined in the
    Ashford Writing Center.

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