Assess the Role of Economic Models in Administrative Decision Making

Full Answer Section

• State the purpose of the presentation: To explore how economic analysis can inform strategic planning, marketing, and financing decisions for launching new services at the newly acquired outpatient clinic.
• Emphasize the importance of considering equity and parity in service offerings to meet the needs of our diverse patient population.

• Title: Strategic Planning - Making Informed Decisions
• Explain how economic analysis helps with strategic planning for new services:
  • Cost-benefit analysis: Evaluate potential costs (staffing, equipment) and projected benefits (improved patient outcomes, increased revenue) of new services.
  • Demand analysis: Assess the demand for new services within the community through surveys, focus groups, or analyzing existing data on patient needs.
  • Market analysis: Identify potential competitors offering similar services and analyze their pricing strategies.
• Include a graph (source to be included in references) illustrating the cost-benefit framework, with cost on the X-axis and benefit on the Y-axis.

• Title: Marketing New Services - Reaching Diverse Populations
• Explain how economic analysis informs marketing strategies for reaching a diverse patient base:
  • Price sensitivity analysis: Evaluate how different pricing structures (sliding scale, bundled services) might impact patient access to new services.
  • Culturally sensitive marketing: Develop marketing materials and outreach strategies tailored to the specific languages and cultural preferences of diverse communities.
  • Targeting underserved populations: Identify and target marketing efforts towards populations with limited access to healthcare or specific health needs addressed by the new services.
• Consider including an image showcasing culturally sensitive healthcare marketing materials (source to be included in references)

• Title: Financing New Services - Securing Resources
• Explain how economic analysis guides financial planning for new services:
  • Return on investment (ROI) analysis: Estimate the time it will take for new services to generate enough revenue to offset initial investment costs.
  • Grant opportunities: Identify potential grant funding sources that align with the goals of the new services and community needs.
  • Cost-containment strategies: Develop strategies to minimize operational costs associated with launching new services (e.g., leveraging existing staff resources).
• Include a simple chart (source to be included in references) illustrating the concept of ROI, with time on the X-axis and return on investment on the Y-axis.

• Summarize the key points: Economic analysis is a valuable tool for strategic planning, marketing, and financing decisions associated with launching new services at the clinic.
• Emphasize the importance of considering equity and parity in service offerings to ensure all members of our diverse community have access to the healthcare they need.
• End with a call to action: Invite the senior vice-president and team to discuss the economic feasibility of specific new service proposals.

• List a minimum of three academic references used to support the information presented in the slides.

• Maintain a professional presentation style with clear visuals and concise text.
• Speak clearly and confidently when delivering the voice-over narration.
• Tailor the level of detail to your audience's understanding of economic concepts.
• Be prepared to answer questions from the senior vice-president regarding the economic analysis and its implications for the new clinic.

Sample Solution

Expanding Services at the New Clinic: A Health Economics Perspective

Slide 1: Title Slide

• Title: Expanding Services at the New Clinic: A Health Economics Perspective
• Your Name
• Health Economics and Statistics Team
• Date

Slide 2: Introduction

• Briefly introduce yourself and your role in the Health Economics and Statistics Team.