Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Review the features boxes of What Went Right, What Went Wrong, Healthcare perspectives, and the video highlights. Discuss some of the information presented and find

Review the features boxes of What Went Right, What Went Wrong, Healthcare perspectives, and the video highlights. Discuss some of the information presented and find two additional references within the past two years related to topics in three of these topics. Summarize your findings.

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
WHAT WENT RIGHT? Crowdsourcing provides an interesting approach to funding projects, especially those involving new products. Instead of obtaining funding from traditional sources, you can solicit funds from a large group of people online. For example, the three co-founders of Inspiration Medical, a Mnneapolis-based start-up rm, used crowdsourcing to nance the research and development work they need to develop a product to help people with bleeding problems. Their product is called AllaQuix, a nonprescription pad that quickly stops nuisance bleeding (i. e. ,bleeding that won't stop from small cuts) for people on blood thinners. The founders estimate that up to one in three adults 15 incapable, for a variety of reasons, of clotting in the typical two to ve minutes. They used social media to introduce their product to potential customers and get feedback before spending hundreds of thousands of dollars on marketing. Stephen Miller from Inspiration explained, "This is why we haven't put it on a retail shelf yet. Some people rst said, \"Is this a scam or a joke? So, we changed the title from 'Stop nuisance bleeding' to 'Help us launch AllaQuix.' That may have saved us $500,000 in marketin - costs.\"5 What Went Wron ; .9 In the 19905 the Veterans Affairs (VA) recognized a need for a bigger, better medical center in order to provide care in one of the most concentrated areas of veterans. The medical center is in Denver, Colorado. The original scope was to have a lO-building medical campus which includes 182-beds, a research and treatment center for spinal-cord injury and a 30-bed nursing home and rehabilitation center. As of 2015, the VA medical center is still incomplete, over budget, and has had many rework issues due to a lack of planning. The designs for the hospital were more expensive than the VA had budgeted. The VA's budget was $604 million, but the project is over $1.7 billion as of 2015 and the VA was asking Congress for another $800 million. For each bed in the hospital, experts advise that construction should cost at most $2 million. In the VA's case, for each of the 182 beds, the price tag is $9.5 million. To put this in perspective 9News in Denver states \"the bill is enough to give $17 million to every family in Colorado who lost a member in the wars in Iraq and Afghanistan\" (Wax- Thibodeaux). The VA constructed rooms without measuring the medical equipment dimensions which resulted in walls being torn out in order to t the equipment. The VA's problems began from poor planning. Rooms were built without anyone determining the size of the equipment going into them, and so walls were torn down to accommodate the equipment. Some argue that designs should be cut back if the project was projected to be over budget. Phil Carter, a senior fellow at the Center for New American Security states why it is important to get it right the rst time: \"The VA can't afford to experiment and learn on the job how to do construction. Every time they change their mind, the bill to the taxpayer is running, not to mention the lost opportunity to urovide health care to veterans who need it.\" 9 HEALTHCARE PERSPECTIVE Several healthcare organizations have applied the theory of constraints (T DC) to improve patient ow. Consider a relatively simple system of a physician's ofce or clinic. The steps in the process could be patients checking in, lling out forms, having vital signs taken by a nurse, seeing the physician, seeing the nurse for a prescribed procedure such as vaccination, and so forth. These steps could take place in a simple linear sequence or chain ...Each link in this chain has the ability to perform its tasks at different average rates. In this example, the rst resource can process 13 patients, charts, or blood samples per an hour; the second can process 17, and so forth. One may think that this process can produce 13 per hour, the average of all resources. In fact, this process or chain only can produce an average of eight [patients, charts, or blood samples] per hour. The chain is only as strong as its weakest link and the rate of the slowest resource in this example, the weakest link, is eight. This is true regardless of how fast each of the other resources can process individually, how much work is stuffed into the pipeline, or how complex the process or set of interconnected processes is to complete. Moreover, improving the performance of any link besides the constraint does nothing to improve the system as a whole.4 The CEO of a large healthcare organization in England described the success they had in reducing the length of hospital stays by using TOC. \"With the help of Theory of Constraint we have been able to move Bamet & Chase Farm Hospitals NHS Trust from one of the worst performing trusts in England to one of the top performing. In Q4 (2007- 2008) we were the top performing trust in London for the 4 hour target and 6th across England. Also, by applying the Theory of Constraints to our discharge process we have been able to reduce our length of stay by 27% and we know we can improve furtha on this.\"5 VIDEO HIGHLIGHTS Michael Porter and Robert S. Kaplan, Harvard Business School professors and authors of the Harvard Business Review article "How to Solve the Cost Crisis in Health Care," discuss this topic in a short (less than ten minute) video. Porter suggests that many efforts to reduce healthcare costs are ineffective because organizations in healthcare don't know how to measure their costs properly. Kaplan says that the denition of costs should be costs within the system and that the patient should be the fundamental costing unit. Costs should focus on particular medical conditions (such as diabetes or knee replacements), and organizations should focus on adding value by comparing costs with patient outcomes. \"The remedy to the cost crisis does not require medical science breakthroughs or new governmental regulation. It simply requires a new way to accurately measure costs and compare them with outcomes. . . The experiences of several major institutions currently implementing the new approachthe Head and Neck Center at MD Anderson Cancer Center in Houston, the Cleft Lip and Palate Program at Children's Hospital in Boston, and units performing knee replacements at Schon Klinik in Germany and Brigham & Women's Hospital in Bostonconrm our belief that bringing accurate cost and value measurement '7- raclices into health care deliv ' can have a transformative un- act.\"7

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Strategic Management

Authors: Richard L. Lynch

6th Edition

978-0273750925

More Books

Students also viewed these General Management questions

Question

1.Which are projected Teaching aids in advance learning system?

Answered: 1 week ago

Question

What are the classifications of Bank?

Answered: 1 week ago