Healthcare Financing

Week 6 Discussion: Healthcare Financing

In the US, obesity is a serious, common, and costly disease with a prevalence of 42.4% (CDC, 2021). Obesity is linked to certain diseases that are among the leading causes of premature and preventable death, for example, stroke, certain forms of cancer, type 2 diabetes, and heart disease. The annual medical cost of obesity in the country is over $150 billion (CDC, 2021). Hence, it is crucial that healthcare practitioners in the primary care setting take measures to deal with the problem effectively. Evans et al. (2018) assert that “patients with obesity in primary care should receive opportunistic weight loss advice from health care professionals” (p.1). In this regard, my practice change project focuses on obesity in my patients in the primary care setting. This paper presents an estimate of the budget for my practice change project. The objective is to explore the DNP-prepared nurse’s role in meeting the organization’s mission through effective planning, budgeting, and determining the allocation of resources.

Resources

a) The number of staff and their roles: Ten staff members will be required – Four nurses, two bariatricians, two dietitians, and two behavioral counselors. The nurses will ensure the patients receive proper care during treatment. They will identify any patient needs, assess and record their vital signs, and monitor their medical plans and treatments. The bariatricians will comprehensively assess and diagnose the patients. They will also formulate the treatment and care plans. The dietitians will counsel the patients on healthy eating habits and nutrition issues. The behavioral counselors will utilize various therapy techniques to help patients change their lifestyle habits responsible for their obesity.

b) Education time for staff (how many and how long): There will be a single two-week educational period to help all the staff members understand the vision, mission, and goals of the project. Also, each member’s role will be specified and the collaboration protocols between them outlined.

c) Office and/or medical supplies: All the relevant material required to facilitate screening, diagnosis, treatment, and keeping patient records will be purchased.

d) Marketing materials: There will be a marketing campaign to promote the obesity practice change project in the institution. The marketing avenues will include social media platforms, flyers/posters, and e-mail marketing.

e) Statistician consult: A statistician consult will be hired to carry out research on the feasibility of the project and its long-term sustainability.

f) Meeting rooms: The project will utilize the meeting rooms in the organization.

Expenses

Item Expense
Nurses 4 nurses x 5 hours x $50 = $1,000
Bariatricians 2 bariatricians x 5 hours x $80 = $800
Dietitians 2 dietitians x 5 hours x $50 = $500
Behavioral Counselors 2 counselors x 5 hours x $60 = $600
Education $100 x 10 business days = $1,000
Office/Medical Supplies $100,000
Marketing $5,000
Statistician Consult 10 hours x $50 = $500
Meeting Rooms Free

 

Revenue Sources

Revenue Source Expenses Covered Amount
Institutional Budget Support Nurses

Bariatricians

Dietitians

Behavioral Counselors

Office/Medical Supplies

$1,000

$800

$500

$600

$100,000

In-Kind Donation Education

Marketing

Statistician Consult

$1,000

$5,000

$500

 

Balancing the Budget

Revenue = $109,000

Expenses = $109,000

Difference = $109,000 – $109,000 = $0

My Role in Monitoring and Controlling the Practice Change Project Expenses and Resources

I will take the role of the project manager in this practice change project. Therefore, it will be my responsibility to define and allocate a sufficient budget, which contributes to exploiting various opportunities to achieve the objectives of the project. Since the budget has already been created and balanced. I will have to carry out cost management. Kostyukova et al. (2018) define cost management as the process of “estimating, allocating, and controlling project costs” (p.775). I will have to carry out cost management in order to ensure I predict any future expenses of the project and minimize the chances of my budget being overrun. During the project execution, I will constantly document and track all expenses to make sure I am adhering to the budget. In case I foresee any additional expenses that I had not accounted for in the original budget, I will have to see if there are areas I can cost cut or any additional fudging sources (Moro Visconti & Morea, 2019). However, I have to ensure that any additional cost is minimal and cannot significantly affect the project in case I am unable to seek the additional funds.

Conclusion

This paper has presented an estimate of the budget for my practice change project, which focuses on obesity in my patients in the primary care setting. The total revenue for the project is $109,000 while the total expenses are $109,000. Hence, a zero-dollar balance has been attained, which implies that the planning for the project has been sufficient. Nevertheless, there may be a need to identify possible additional funding sources to mitigate any inflation or unforeseen costs during the implementation stage.

 

References

CDC. (2021, September). Adult obesity facts. Centers for Disease Control and Prevention. https://www.cdc.gov/obesity/data/adult.html

Evans, E. H., Sainsbury, K., Kwasnicka, D., Bolster, A., Araujo-Soares, V., & Sniehotta, F. F. (2018). Support needs of patients with obesity in primary care: A practice-list survey. BMC Family Practice19(1), 1-9.

Kostyukova, E. I., Vakhrushina, M. A., Shirobokov, V. G. E., Feskova, M. V., & Neshchadimova, T. A. (2018). Improvement cost management system for management accounting. Research Journal of Pharmaceutical, Biological, and Chemical Sciences9(2), 775-779.

Moro Visconti, R., & Morea, D. (2019). Big data for the sustainability of healthcare project financing. Sustainability11(13), 3748.