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.

Example assignment: You may use the assignment example,  linked in the Resources, to give you an idea of what a Proficient or  higher rating on the scoring guide would look like.

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.
• **THE COST BENEFIT ANALYSIS TEMPLATE IS ATTACHED AND MUST BE INCLUDED IN PAPER!!!**