Financial Analysis and Expected Financial Return

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Table of Contents

Introduction
Expected Financial Return
Executive Summary
References

Introduction

The financial framework for the given project links to the cost of BIS monitors. At the moment, they range in price from $4,000 to about $5,000. Because of the existence of several surgeries in one health unit, their cost can be high. However, the risk of side effects and treatment of complications that emerge during the anesthesia will demand even more investment (Zhou et al., 2018). Additionally, the inappropriate use of drugs and medicines during interventions is used to file a lawsuit against a hospital. From this perspective, the offered project meets the Quadruple Aim as the final costs will reduce. At the same time, patients and health workers will benefit from better outcomes preconditioned by BIS monitors (Sikka et al., 2015). In such a way, the projects financial analysis shows that considering this solution is a beneficial tool for the healthcare sector to cope with the problem and guarantee that all four goals of the current paradigm are achieved. The reduction of costs, better outcomes, and patient and clinicians experiences will be enhanced by relatively low costs presupposing new BIS monitors for various units.

Expected Financial Return

Several benefits are associated with the given project. First of all, the costs needed to provide care to patients with complex conditions after surgeries or to mitigate the adverse effects reduce because of the lower incidence and the improved quality of care delivery. Second, monitoring the depth of anesthesia will guarantee better outcomes, help save patients, and protect them from adverse effects. Simultaneously, following the Quadruple Aim principles, patients and clinicians experiences will improve because they will benefit from reduced stress and better outcomes (Sikka et al., 2015). Finally, another significant benefit of the project is creating the environment for new improvements as BIS monitors employment will open space for further achievements and upgrades during surgeries.

Executive Summary

As stated above, the projects central goal is to implement BIS monitors as the standard of care during general anesthesia to decrease intraoperative awareness, raise client satisfaction levels, and reduce postoperative complications. The achievement of the given goal demands the utilization of resources available in hospitals, mobilization of human resources, and reconsideration of the existing approaches to practice to ensure better outcomes. From the perspective of the quality assurance (QA) segment and patient experience, the Quadruple Aim might also guarantee improved outcomes because it focuses on clients several factors. It is critical to note that increasing customer satisfaction is one of the primary goals of the given method, which is also achieved by providing clinicians with better working conditions and new means for delivering care.

The proposed intervention presupposes the use of BIS monitors as the tool to attain improved outcomes during anesthesia. In general, the Bispectral Index (BIS) is one of the most effective technologies to control anesthesias depth. The use of the given equipment during surgeries or other interventions allows anesthetists with the improved opportunity to adjust the number of anesthetic agents and ensure that it meets the needs of the patient (Seo et al., 2019). In such a way, it is expected that the implementation of this strategy into practice will contribute to significant improvement. BIS monitors are an essential tool providing anesthetists with multiple opportunities to control the state of patients (Lapaine, 2020). Simultaneously, the improvement can also be viewed if speaking about patients as the number of adverse effects will be significantly reduced, which is the key to better patient experience and satisfaction.

Several benefits can be associated with the given project. The costs needed to provide care to patients with complex conditions after surgeries or to mitigate the adverse effects will be reduced because of the lower incidence and the improved quality of care delivery. The ability to monitor anesthesias depth will guarantee better outcomes, help save patients, and protect them from adverse effects. Simultaneously, following the Quadruple Aim principles, patients and clinicians experiences will be improved because they will benefit from the reduced level of stress and better outcomes.

References

Lapaine, M. (2020). Embracing the Quadruple Aim: One hospitals experience. Healthcare Management Forum. doi:10.1177/0840470420942791

Seo, K., Kim, K., Lee, S., John, H., & Lee, J. (2019). Comparative analysis of phase lag entropy and bispectral index as anesthetic depth indicators in patients undergoing thyroid surgery with nerve integrity monitoring. Journal of Korean Medical Science, 34(20), e151. doi:10.3346/jkms.2019.34.e151

Sikka, R., Morath, J., & Leape, L. (2015). The Quadruple Aim: care, health, cost, and meaning in work. BMJ Quality & Safety, 24, 608-610. doi:10.1136/bmjqs-2015-004160

Zhou, Y., Li, Y., & Wang, K. (2018). Bispectral index monitoring during anesthesia promotes early postoperative recovery of cognitive function. It reduces acute delirium in elderly patients with colon carcinoma: A prospective controlled study using the Attention Network Test. Medical Science Monitor, 24, 7785-7793. doi:10.12659/MSM.910124

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Financial Analysis and Expected Financial Return

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