Creating alternative revenue streams | Management homework help

Scenario

Health organizations continue to face challenges relative to costs and revenue. Changes in reimbursement structure is most often cited as one of the biggest challenges for providers. As a result, leaders are developing new approaches aimed at creating additional revenue streams.

Traditionally, hospitals have operated on profit margins that are often described as challenging. As a result of increased labor costs and a shift in payer mix, hospitals are being forced to do more with fewer resources. Consequently, hospitals are seeking new ways to improve their margins. Increasing patient volume is no longer effective in improving margins given the focus on value-driven care. As the CEO of XYZ hospital, you are asked to make a presentation to the board regarding ways to identify new streams of revenue.

Your hospital operates in a low-income community with a significantly large population of residents enrolled in Medicare and Medicaid coverage. Critical issues such as length of stay (LOS) requirements and other financial threats are creating an urgent need for your organization to consider new revenue sources. After conducting research into the development of alternate revenue streams implemented by hospitals, you propose a new state of the art wellness center. Your task is to gain support for the wellness center.

Instructions

Create a PowerPoint presentation in which you highlight the following:

• Describe, in detail, the service offerings that you would include in your new wellness center.
• Discuss any potential barriers to implementing the wellness center.
• Explain how the new wellness center can potentially affect overall costs.
• Explain how the new wellness center can potentially affect overall quality of care.
• Describe the potential impact of the new wellness center on the underserved.
• Discuss the potential implications of the proposed revenue stream on payers, patients, and providers.
• Your presentation should include either speaker notes or voiceover narration.
• Research the concept of developing wellness centers, using credible sources to create your presentation.

Rubric:

• Criterion 1
  0% of total gradeA – 4 – MasteryClear and thorough description of the service offerings of the new wellness center, including multiple credible sources.0B – 3 – ProficiencyDetailed description of the service offerings of the new wellness center, including at least one credible source.0C – 2 – CompetenceBasic description of the service offerings of the new wellness center.0F – 1 – No PassInsufficient description of the service offerings of the new wellness center.0I – 0 – Not SubmittedNot Submitted0
• Criterion 2
  0% of total gradeA – 4 – MasteryClear and thorough discussion of potential barriers to implementing the wellness center, including multiple credible sources.0B – 3 – ProficiencyDetailed discussion of potential barriers to implementing the wellness center, including at least one credible source.0C – 2 – CompetenceBasic discussion of potential barriers to implementing the wellness center.0F – 1 – No PassInsufficient discussion of potential barriers to implementing the wellness center.0I – 0 – Not SubmittedNot Submitted0
• Criterion 3
  0% of total gradeA – 4 – MasteryClear and thorough explanation of how the new wellness center can potentially affect overall costs, including multiple credible sources.0B – 3 – ProficiencyDetailed explanation of how the new wellness center can potentially affect overall costs, including at least one credible source.0C – 2 – CompetenceBasic explanation of how the new wellness center can potentially affect overall costs.0F – 1 – No PassInsufficient explanation of how the new wellness center can potentially affect overall costs.0I – 0 – Not SubmittedNot Submitted0
• Criterion 4
  0% of total gradeA – 4 – MasteryClear and thorough explanation of how the new wellness center can potentially affect overall quality of care, including multiple credible sources.0B – 3 – ProficiencyDetailed explanation of how the new wellness center can potentially affect overall quality of care, including at least one credible source.0C – 2 – CompetenceBasic explanation of how the new wellness center can potentially affect overall quality of care.0F – 1 – No PassInsufficient explanation of how the new wellness center can potentially affect overall quality of care.0I – 0 – Not SubmittedNot Submitted0
• Criterion 5
  0% of total gradeA – 4 – MasteryClear and thorough description of the potential impact of the new revenue stream on underserved, including multiple credible sources.0B – 3 – ProficiencyDetailed description of the potential impact of the new revenue stream on underserved, including at least one credible source.0C – 2 – CompetenceBasic description of the potential impact of the new revenue stream on underserved.0F – 1 – No PassInsufficient description of the potential impact of the new revenue stream on underserved.0I – 0 – Not SubmittedNot Submitted0
• Criterion 6
  0% of total gradeA – 4 – MasteryComprehensive discussion of the implications of the proposed revenue stream on payers, patients, and providers, including multiple credible sources.0B – 3 – ProficiencyElaborative discussion of the implications of the proposed revenue stream on payers, patients, and providers, including at least one credible source.0C – 2 – CompetenceBasic discussion of the implications of the proposed revenue stream on payers, patients, and providers.0F – 1 – No PassInsufficient discussion of the potential implications of the proposed revenue stream on payers, patients, and providers.0I – 0 – Not SubmittedNot Submitted0
• Criterion 7
  0% of total gradeA – 4 – MasteryPresentation included comprehensive speaker notes or narration.0B – 3 – ProficiencyPresentation included adequate speaker notes or narration.0C – 2 – CompetencePresentation included brief speaker notes or narration.0F – 1 – No PassPresentation included insufficient speaker notes or narration.0I – 0 – Not SubmittedNot Submitted0