NURS FPX 6612 Assessment 4 Cost Savings Analysis Struggling with “NURS FPX 6612 Assessment 4: Cost Savings Analysis”?  Care Coordination Can be Cost Saving

Cost Savings Analysis

I’m preparing an executive summary for my organization’s manager as part of this assessment. I’ve been instructed by my boss to look into how care coordination can lower costs, enhance outcomes, aid in data collection, and ultimately raise the standard of health in the community. A spreadsheet with cost-saving statistics has been created per her instructions, and the information has been presented in executive summary style.

An essential procedure for hospitals is cost analysis, which is looking at and assessing the expenses of giving patients medical care. This covers both direct costs, such as equipment and medical supplies, and indirect costs, such as staffing and administrative charges. Finding opportunities to reduce costs while keeping patient care quality as the primary goal is the goal of cost analysis.

This could entail looking at general operational processes for more effective supply chain management or personnel, or it could entail evaluating particular operations for cost-effectiveness. In order to find patterns and areas for improvement, the cost analysis process is continuous and entails routine monitoring of expenditures and performance indicators. In order to analyze expenses and performance and find areas for additional development, hospitals can also benchmark against other healthcare providers.

Here is what cost-saving data in the hospital would look like:

Four cost-saving components for the hospital have been identified in this spreadsheet, together with their present expenses and expected savings. The first component is the changeover to LED lighting, which is anticipated to save the hospital $5,000 annually in comparison to the present lighting expenditure of $20,000. The second component involves putting in place an electronic medical records system, which should save the hospital $30,000 annually as opposed to the $100,000 it currently spends on paper-baseddata.

The third component is cutting down on staff overtime hours, which should save the hospital $10,000 year instead of the $50,000 it currently spends on overtime compensation. Utilizing an energy-efficient HVAC system is the fourth component, and it is anticipated that this will save the hospital $8,000 annually in comparison to the current $30,000 cost of heating and cooling.