Feasibility Study Assessment – need help in this topic?
Prepare a feasibility study based on a scenario of your choice.
Scenario
You have been asked by the CEO of your organization to propose a project or program to address a specific need, and to develop a feasibility study to determine if the proposed project or program should be undertaken.
Your Role
You are a department leader in the organization.
Example Assessment: You may use the following to give you an idea of what a Proficient or higher rating on the scoring guide would look like:
Assessment 3 Example [PDF].
Requirements
Complete each section of the feasibility study as completely as possible, and support with relevant evidence. The length of your feasibility study will depend largely on the project or program you are proposing to address the need of your organization. Be sure that each section is fully addressed.
Your feasibility study should:
Provide relevant information on the organization (Section I).
Analyze the objectives of the proposed program (Section II).
Explain why you are proposing the program.
Where does it fit within the organization?
What systems will be affected by it?
What systems issues will it address?
Explain how both patients and the organization will benefit from implementing the proposed program.
Provide evidence that the program is needed.
Explain the value of the program (Section III).
How well does it align to the organization’s mission?
How well does it fit with existing programs and services?
Do competitors offer something similar? If so, how will your program give your organization a competitive advantage?
Analyze the potential financial and economic issues of implementing the program (Section IV).
Identify any economic issues that could affect the success of the program.
Explain how your program could affect the local economy (both positively and negatively).
Identify possible funding sources.
Estimate the cost of implementing and maintaining your program.
Analyze the marketing issues associated with your program (Section V).
Explain how your program may affect the existing marketing approach.
Explain how your program will meet the needs of the target market demographic.
Explain how you will differentiate your program from those of competitors.
Determine how the program may affect the entire organization (Section VI).
Are there regulatory or policy implications?
Will new licenses or certificates be required for the organization or staff members?
Will the program affect the tax status of the organization?
How might the program affect liability and risk management?
Do you have enough space for the program?
Do you have evidence to support the effectiveness of the program?
Recommend a course of action based on the information in the feasibility study.
How does your recommendation reflect ethical decision making?
Deliverable Format
The feasibility study is a professional document and should therefore follow the corresponding MBA Academic and Professional Document Guidelines, including single-spaced paragraphs.
Organize your document using this structure:
Title page. (What is the title of your proposed program?)
Executive summary. (Many executives require an executive summary for projects of this type. The summary is written last, but becomes the first section of the feasibility study and provides an overview of the goals and objectives, summarizes the key points supporting the need, summarizes the key points supporting your proposed program, and includes your conclusion and recommendations.)
Feasibility study.
References page.
APA-formatted references.
Written using language appropriate for an executive audience.
Evaluation
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies through corresponding scoring guide criteria:
Competency 1: Analyze how economic, legal, regulatory, and policy factors influence the organization and financing of health care delivery systems.
Provide relevant information on an organization.
Analyze the potential financial and economic issues associated with implementing the proposed program.
Analyze the marketing issues associated with the proposed program.
Competency 2: Analyze relationships between elements of a health care system and organizational goals.
Explain the value of a proposed program.
Competency 3: Analyze how health care systems influence decision making within health care organizations.
Analyze the objectives of a proposed program for an organization.
Determine how the proposed program could affect the organization.
Competency 4: Communicate health care management needs, opportunities, and strategies with multiple stakeholders.
Recommend an ethical and evidence-based course of action.
Correctly format citations and references using current APA style.
Write content clearly, logically, and in a manner appropriate for the target audience.
These resources will help you understand the role of economics in health care decision making:
Fuchs, V. R. (2012). Major trends in the U.S. health economy since 1950. Retrieved from http://www.nejm.org/doi/full/10.1056/NEJMp1200478
PH210x. (Producer). (n.d.). Financing healthcare system [Video] | Transcript Retrieved from https://www.youtube.com/watch?v=85XDL7RLe7A&feature=youtu.be
Guinness, L., & Wiseman, V. (2011). Introduction to health economics (2nd ed.). New York, NY: McGraw-Hill Education.
Section 1.
Baker, L. C., Bundorf, M. K., & Kessler, D. P. (2014). Vertical integration: Hospital ownership of physician practices is associated with higher prices and spending. Health Affairs, 33(5), 756–763.
Ho, K., & Lee, R. S. (2017). Insurer competition in health care markets [PDF]. Econometrica, 85(2), 379–417. Retrieved from http://www.people.fas.harvard.edu/~robinlee/papers/InsurerComp.pdf
American College of Healthcare Executives. (2017). Top issues confronting hospitals in 2017. Retrieved from https://www.ache.org/pubs/research/ceoissues.cfm
Use these resources to gain better understanding of finance and revenue cycle in health care:
Mcaskill, R. (2014). Examining the basics of the healthcare revenue cycle. Retrieved from https://revcycleintelligence.com/news/examining-the-basics-of-the-health-care-revenue-cycle
Kaiser, L. S., & Lee, T. H. (2015, October 8). Turning value-based health care into a real business model. Harvard Business Review Digital Articles, 2–5.
Cheney, C. (2017). Top 5 differences between NFPs and for-profit hospitals. Retrieved from http://www.healthleadersmedia.com/finance/top-5-differences-between-nfps-and-profit-hospitals
Rudowitz, R., & Garfield, R. (2017). 10 things to know about Medicaid: Setting the facts straight. Retrieved from https://www.kff.org/medicaid/issue-brief/10-things-to-know-about-medicaid-setting-the-facts-straight/
Kaiser Family Foundation. (Producer). (2014). Health insurance explained: The YouToons have it covered [Video] | Transcript Retrieved from https://www.youtube.com/watch?v=-58VD3z7ZiQ&feature=youtu.be
Paradise, J., Rosenbaum, S., Markus, A., Sharac, J., Tran, C., Reynolds, D., & Shin, P. (2017). Community health centers: Recent growth and the role of the ACA. Retrieved from https://www.kff.org/medicaid/issue-brief/community-health-centers-recent-growth-and-the-role-of-the-aca/
Milken Institute. (Producer). (2014). Health care delivery in the 21st century [Video] | Transcript Retrieved from http://www.milkeninstitute.org/videos/view/health-care-delivery-in-the-21st-century
These resources examine the role of policy and regulation in health care:
Rand Health. (n.d.). Healthcare reform: The future of U.S. health care: Replace or revise the Affordable Care Act?. Retrieved from https://www.rand.org/health/key-topics/health-policy/in-depth.html
PH210x. (Producer). (n.d.). Definitions [Video] | Transcript Retrieved from https://youtu.be/wDPcMuowSuA
The Audiopedia. (Producer). (n.d.). What is best practice? What does best practice mean? Best practice meaning & explanation [Video] | Transcript Retrieved from https://www.youtube.com/watch?v=lKWvL9BpxdE&feature=youtu.be
National Conference of State Legislatures. (n.d.). Health. Retrieved from http://www.ncsl.org/research/health.aspx
Thornhill, L., & Conant, R. (2018). Improving care through public policy. The Gerontologist, 58(Supplement 1), S141–S147. Retrieved from https://academic.oup.com/gerontologist/article/58/suppl_1/S141/4816758?searchresult=1
Field, R. I. (2008). Why is health care regulation so complex?. Pharmacy and Therapeutics, 33(10), 607–608. Retrieved from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2730786/
U.S. National Library of Medicine. (n.d.). Health Services Research Information Central. Retrieved from https://www.nlm.nih.gov/hsrinfo/abouthsr.html
Explore this site to find research resources on a variety of topics.
The following resources focus on marketing in health care:
Thomas, R. K., & Calhoun, M. (2007). Marketing matters: A guide for health care executives. Chicago, IL: Health Administration Press.
Chapter 1.
Greenfield, J., & Whitler, K. A. (2015). The new world of healthcare marketing: A framework for adaptation. Retrieved from https://www.forbes.com/sites/kimberlywhitler/2015/09/06/the-new-world-of-healthcare-marketing-a-framework-for-adaptation/#57603c3a1c10
Honigman, B. (2017). 24 outstanding statistics & figures on how social media has impacted the health care industry. Retrieved from https://getreferralmd.com/2013/09/healthcare-social-media-statistics/
