Required Capstone Assignment 24.3: A Cost-Related Initiative for Value Creation

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Learning Outcome Addressed:

1. Analyze a healthcare initiative and assess how it creates value.

The ever-increasing cost of healthcare in the US has been the subject of much concern for the last several decades, and it is as important as quality in the quest to increase value in healthcare. In this program, you have delved into several areas that will influence your understanding of how money flows in and out of your organization and how to make good spending decisions and investments. Your organization will likely have a person or team that handles the accounting and crunches the numbers. Still, as discussed earlier in this program, understanding some of the fundamentals of accounting, budgeting, and finance helps you communicate with your organization’s financial experts and use the information they share to make the best decisions to create value in your department or organization.

In this capstone assignment, you will analyze a cost-related initiative, project, or practice and assess its relationship to value creation. In Modules 1013, you learned about these kinds of activities, which might include performing a cost-volume-profit (CVP) analysis to decide whether to offer a particular service or product or doing cost allocation to analyze the relative costs and revenues of different aspects of your business, or TDABC (time-driven-activity-based-costing) to more closely examine the costs associated with the time a patient spends with each healthcare provider or step in the care process. You could also analyze an investment project by looking at the net present value (NVP) or the internal rate of return (IRR) to evaluate those projects that will generate the most profit relative to their costs.

You may refer to any of these initiatives or some other cost-related project or practice undertaken by your organization or by Kaiser Permanente.

You are encouraged to review and reuse material from your response to previous assignments to complete this capstone assignment.

To complete this assignment:

• Review .
• Review Modules 1013.
• Recall that and that improving access is also an aspect of quality improvement.
• Write a two-to-three-page analysis that answers the four questions below.

The optional reading below will help you think about ideas for initiatives to analyze and the relationship between cost-related activities and value creation:

• (Miller 2022)

Answer these four questions in your response:

1. Describe a cost-related initiative from your current organization (or from Kaiser Permanente), and discuss at least one way it relates to the three value components: quality, access, and cost. Note that it may not directly impact all three elements. For any of the three that it doesnt affect, give at least one reason why.
2. Describe at least one way the effectiveness of this initiative is being assessed or could be assessed, and share related data if it is available.
3. Describe at least two things about the initiative that work well. If the initiative is just launching or planned for the future, describe at least two things you would focus on, as a manager, to ensure further success in creating value.
4. Describe at least one thing that could be improved and at least one way it could be improved. If the initiative is just launching or planned for the future, describe at least two possible pitfalls you need to prepare for.

Submission instructions:

• Write your response, and save it as a PDF or Word document.
• Please name your file Capstone-24.3-FirstName-LastName.
• Click the Start Assignment button.
• Upload your saved file.
• Click the Submit Assignment button.
• IMPORTANT: Please review the rubric below for details about how your submission will be evaluated before you begin work on it.
• Note that a score of “Excellent” requires that you exceed the basic assignment requirements.

The average completion time for this activity is 1 hour 20 minutes.

This is a required assignment and counts toward program completion.

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Required Capstone Assignment 24.3: A Cost-Related Initiative for Value Creation

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