Make a detailed plan for implementing an economic initiative.

Consider the following:

Do you believe that cost shifting is a fair practice, or that it should be prohibited by law?
Why would a change in a hospital’s variable costs affect the profit-maximizing price of the hospital?
How do ethics and economic decision making intersect when it comes to health care?
What is the most important aspect of health care economics in relation to your current or desired leadership role? What actions and resources might you employ in that role to ensure objective and ethical economic decision making?
Scenario
The senior management team has sent you their appreciation as well as feedback on your feasibility study for your proposed economic initiative. They believe your proposal has the potential to benefit the organization in both the short and long term. The final step in this process is to create a comprehensive implementation plan for your proposed initiative. This plan must include a budget of relevant expected material, labor, and capital costs for the first five years of the initiative (see Resources for some examples and guides on budget planning), as well as projected earnings from the initiative for the care setting. You must also include a plan and timeline for implementing the initiative, an analysis of how it may affect other aspects of the care setting, an explanation of how it will remain viable in the face of environmental changes, and adequate relevant supporting evidence.