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Innovative Healthcare Initiative
Your Business Case Plan should be based on the information that you learn within your clinical facility. Be sure to review the mission, vision, and values to understand the organizations purpose and culture. Based on your interpretation of the organization, what opportunities have you discerned that could improve their services?
Remember, you are not writing a BCP for a board of directors; that would take more time and resources than we have at our disposal and exceeds the boundaries of this course. However, you are expected to follow the outline of the BCP and provide the required elements as outlined in the assignment instructions and grading rubric.
See the Course Schedule for the due date. Follow the guidelines below to complete your Business Case Plan.
10-12 pages of text, double-spaced, 12-pt. font.Note: The title page and reference pages are not included in the stated page limit.Minimum of 5 references. All within the last 10 years.Adhere to APA 7th ed.Scholarly presentation.Directions
Review the Business Case Plan Rubric [DOCX] for grading criteria and guidelines for creating your plan.
Use the following headings in your plan:Executive summary
The primary purpose of the executive summary, the first section of the BPC, is to provide a condensed overview of the main document and capture the attention of the reader(s), and key stakeholder(s)
While the executive summary is the first section of a BCP, it should be written after you complete the other sections; remember it summarizes the entire presentation.
Define the ProposalThe purpose of this should be enumerated in three subsections:
1) Provide a factual summary of the current situation or environment;2) Provide a clear analysis of the problem; and3) Identify the solution. It is important to provide the reader with a clear picture of why you are making this proposal and then to help them understand the problem.
It is vitally important to align the organization’s mission, vision, and goals with your proposal
Clearly portray your solution to the problem through a relatively succinct description
Describe how your project will improve services or outcomes and distinguish the organization from their competitors.
Presentation of Options
This section focuses on brainstorming ideas and identifying alternative solutions to address and resolve the identified problem.; you are presenting the reader with options.
At a minimum, present the reader with two additional options to counterbalance the proposed option.
If one of your choices includes a status quo option, one that requires no change from the current situation, it is important to connect the consequences of doing so with the organization and how it will or will not address the problem being faced.
Market Analysis and Opportunity
This section will focus on the environment in which you plan to establish and grow your proposed idea(s) if approved. The market analysis may be internal (within your organization) or external (within the community environment). Most nursing proposals are based upon inter-organizational (internal) analysis rather than external analysis.
Goals and Objectives
Consider what it is that you want to accomplish with this proposal
Clearly describe your expectations for success and how that success will be identified and measured for key stakeholders.
Goals are generally broad and long-term as they determine the direction that you want to take.
Objectives are more detailed and define the specific, measurable actions that must be taken to achieve the overall goal.
It is important that goals and objectives are written in specific, measurable, and time-bound terms.
You may have multiple objectives that support the achievement of one goal.
Performance measures are the strategies that define the how, the actions, taken to meet identified objectives. They quantitatively assess each objective.
Each objective may have one or more performance measures that are used to determine if the objective has been achieved or not.
Implementation Plan and Timeline
Building on the identified goals and objectives, it is important to develop a detailed implementation plan that includes important milestones and deliverables with expected dates of completion.
Follow up any narrative descriptions of the implementation plan with a table to illustrate data
Key stakeholders will need to understand the resources required to implement the project in terms of financial, physical, and human capital support
Evaluation of the Program
This section will describe the evaluation plan for on-going assessment, measurement, and assurance of quality outcomes.
Performance measures should include both financial and service outcomes in their metrics for measurement and align with established goals and objectives for the proposal.
Financial Data and Projections
In this section you will need to provide a comprehensive financial picture of the project with budgetary assumptions and performance expectations clearly outlined.
In nursing, the BCP is typically focused on services, interdepartmental improvements or changes. As such, the financial analysis for the interdepartmental proposal has focused on expected revenue in the form of improved reimbursement or expanded service lines.
Projected costs of the proposed project- renovation of physical space, equipment, and salaries are offset by cost savings in decreased overtime or premium pay or better reimbursement rates.
This information will help you and your key stakeholders to decide if your proposal is worth initiating, or if you need to reevaluate key assumptions. It is important to prepare projections that both realistic and inclusive, but also account for any known financial risks.
Identify Risks Key stakeholders and decision makers will be looking for a comprehensive analysis of risk that addresses three aspects:
1) a detailed discussion of risks related to the identified problem as noted in the Proposal section,2) a detailed discussion of risk as they relate to each of the identified options noted in the Presentation of Options section, and3) describe risks in terms of proceeding or not proceeding with your proposal. Risks should be described in easy to define terms and address the likelihood of their occurrence.Consider threats and opportunities that you identified in the Market Analysis and provide a discussion of them here.Benefits can be defined as savings in terms of revenue, productivity, and improved reimbursement rates that are the result of improving outcomes and achieving greater efficiency in processes.Recommendation – Based on the financial analysis, present your final recommendation and explain your rationale. Highlight the benefits and costs involved and point out how the recommended solution clearly demonstrates the greatest ROIInclude a table to summarize financial informationSummary/conclusionEmphasize the crucial parts of your BCP that you want key stakeholders and decision-makers to remember after the presentation.This is a persuasive argument, your last chance to sell your idea and convince them that your proposal has merit and should be approved.Highlight the strengths of the proposal and critical points.Review the problem in terms of why the proposal is so important.Remind them of the possible solutions and the benefits and risks of each.Point out the return of investment highlighting why your proposal is the most efficient, effective option for the organization.Lastly, based on the information presented state your final recommendation.Note: When using tables you may include them as an addendum so as not to exceed the page limit.
Based on your interpretation of the organization, what opportunities have you discerned that could improve their services?Explain
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