Cost Savings Analysis

Cost Savings Analysis

Assessment 4 Instructions: Cost Savings Analysis

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  • Prepare a spreadsheet of cost savings data showing efficiency gains attributable to care coordination over the course of one fiscal year, and report your key findings in an executive summary, 4-5 pages in length. Cost Savings Analysis

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Introduction

Information plays a fundamental role in health care. Providers such as physicians and hospitals create and process information as they deliver care to patients. However, managing that information and using it productively poses an ongoing challenge, particularly in light of the complexity of the U.S. health care sector, with its many diverse settings for care and types of providers and services. Health information technology (HIT) has the potential to considerably increase the productivity of the health sector by assisting providers in managing information. Furthermore, HIT can improve the quality of health care and, ultimately, the outcomes of that care for patients.

The use of HIT has been upheld as having remarkable promise in improving the efficiency, quality, cost-effectiveness, and safety of medical care delivery in our nation’s health care system. This assessment provides an opportunity for you to examine how utilizing HIT can positively affect the financial health of an organization, improve patient health, and create better health outcomes.

Preparation

As the senior care coordinator in your organization, your manager has asked you to examine and report on how care coordination can generate cost savings, improve outcomes, enhance the collection of evidence-based data, and improve health care quality for the community. She would like you to compile cost savings data in a well-organized spreadsheet and present your key findings in an executive summary.

Note: Remember that you can submit all or a portion of your draft spreadsheet and executive summary to Smarthinking for feedback before you submit the final version of this assessment. If you plan on using this free service, be mindful of the turnaround time of 24–48 hours for receiving feedback.

Instructions

Determine how care coordination can reduce costs. Compile your cost savings data in a spreadsheet, using Microsoft Excel or a suitable application of your choice. (If you elect to use an application other than Excel, check with faculty to avoid potential file compatibility issues.) Your spreadsheet should contain at least four cost-saving elements. Identify the cost-saving element, current costs, and anticipated savings.

Then create an executive summary using the APA Style Paper Template [DOCX]. Discuss your cost-saving elements and report key findings from your analysis.

Analyzing Cost Savings

The requirements outlined below correspond to the grading criteria in the scoring guide. Be sure that your analysis addresses each point, at a minimum. You may also want to read the Cost Savings Analysis Scoring Guide to better understand how each criterion will be assessed.

    • Describe ways in which care coordination can generate cost savings.
      • What are your primary evidence-based sources of information?
      • Are your conclusions substantiated by the data?
      • What assumptions, if any, underlie your analysis?
    • Explain how care coordination can promote improved health consumerism and effect positive health outcomes.
      • What evidence do you have to substantiate your claims?
    • Describe at least five ways in which care coordination efforts can enhance the collection of evidence-based data and improve quality through the application of an emerging health care model.
      • Choose any emerging health care model.
    • Present cost savings data and information clearly and accurately.
    • Support main points, claims, and conclusions with relevant and credible evidence, correctly formatting citations and references using APA style.

Additional Requirements

Executive Summary Format and Length

Format your executive summary using APA style:

    • Use the APA Style Paper Template [DOCX] provided. Be sure to include:
      • A title page and references page. An abstract is not required.
      • A running head on all pages.
      • Appropriate section headings.
    • See also the APA Style Paper Tutorial [DOCX] to help you in writing and formatting your executive summary.
    • Your summary should be 4–5 pages in length, not including the title page and references page.

Supporting Evidence

    • Cite 4–5 sources of relevant and credible scholarly or professional evidence to support your cost savings analysis.
    • Apply APA formatting to all in-text citations and references.

Submit both your spreadsheet and your executive summary.

Portfolio Prompt: You may choose to save your spreadsheet and executive summary to your ePortfolio.

    • ePortfolio.
      • This resource provides information about ePortfolio, including how to use the different features of the product.
    • Online ePortfolio Guidelines [PDF].

Competencies Measured

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

    • Competency 1: Apply care coordination models to improve the patient experience, promote population health, and reduce costs.
      • Describe ways in which care coordination can generate cost savings.
    • Competency 2: Explain the relationship between care coordination and evidence-based data.
      • Describe ways in which care coordination efforts can enhance the collection of evidence-based data and improve quality through the application of an emerging health care model.
    • Competency 3: Use health information technology to guide care coordination and organizational practice.
      • Explain how care coordination can promote improved health consumerism and effect positive health outcomes.
    • Competency 4: Communicate effectively with diverse audiences, in an appropriate form and style, consistent with applicable organizational, professional, and scholarly standards.
      • Present cost savings data and information clearly and accurately.
      • Support main points, claims, and conclusions with relevant and credible evidence, correctly formatting citations and references using APA style.

 

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