Milestone 2 - Economic Theories and Principles
Your milestone two is due this week. Now that you’ve introduced your facility you’re going to go in and analyze several elements. This milestone is the hardest of them all. This Milestone is a GENERAL discussion of all the topics. Please discuss the topics as to how they relate to healthcare in general and have healthcare examples. In other words, how will a hospital in general react to the concept for each section? Do not relate the information to your facility as that will happen in Milestone 3.
Economic Theories and Principles
If you remember from our readings, economic disparities are a difference in measures of economic well-being among individuals within the community. What does your community reflect? Analyze the relationship between your community’s health care disparities and the financial well-being of the healthcare industry in the area and availability of healthcare. In other words, how much healthcare is available based on a community's wealth? You can either generalize the discussion or use a specific geographical area as your example. For example, I could discuss the topics generally on a federal level. Or, I could discuss this information based on my home town.
Look at your top 1-2 economic theories that can be applied to the healthcare industry and then the rationale why. Provide a Health-related example. Apple Inc is not a healthcare organization. Examples include supply/demand, scarcity, and opportunity cost. There are quite few to use in your book too!
Use of Economic Principles
How do hospitals use strategic planning to make short- and long-term goals? What is the process!
For-Profit and Nonprofit
Logically analyze the differences between for-profit and nonprofit healthcare organizations financially. What are some specific characteristics that make the organizations different? Keep for-profit and nonprofit in separate paragraphs. Be sure to show characteristics that are similar and different.
Utilizing an economic policy, state how non and for profit react to it. For example, how would a non-profit facility react to the newest CHIP legislation? How would a for-profit react to the newest CHIP legislation. You can use your legislation from your SWOT.
Policy, Changes and Disparities
Economics Policy and Disparities in Care
Using current research from the last five years analyze the relationships/connections and differences. Explore the connections/relationships and differences. How are healthcare economic policies and healthcare disparities connected? What connects these two areas? You can use a health-related example.
How are these entities different? What doesn’t connect? You can use a health-related example.
What impact can recent legislative changes have on the economic policy in healthcare in general? Using the legislation from your SWOT, briefly explain what the legislation is supposed to do and then state how your legislation has impacted healthcare in general.
How are disparities of care factored into health care strategic planning for various healthcare organizations? In other words, how do hospitals use strategic planning to pay for healthcare disparities?
APA: No need for an intro or conclusion for this milestone. Please be sure to cite the majority of the sentences. Do not use 1st person. Do not use direct quotes. Double space, Times New Roman, 12 font. 4-6 pages. Please keep each main heading and sub-headings separate. Do not combine areas.