Brainstorming the Business Case Essay Paper
Discussion: Brainstorming the Business Case
As a nurse, you may be accustomed to wearing many hats, including healthcare provider, educator, counselor, and confidant. The hat that may be a less familiar fit is that of “salesperson.”
A nurse’s drive to advocate for their patients often leads to the development of creative solutions to improve care. Bringing these solutions from idea to reality often requires the development of a business case, which will sell leadership on the idea. As any salesperson will advise, a key to an effective sales pitch is to clarify the benefits to the buyer.
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An effective business case must clarify the benefits of the proposal, highlighting what is to be gained by the organization if the proposal is pursued. This often includes financial, competitive, and strategic benefits, among others.
For this Discussion, you share ideas for a healthcare product or service that addresses gaps or provides opportunities within your healthcare organization. Brainstorming the Business Case Essay Paper
To Prepare
Review this module’s Resources focused on business plans and systems thinking in healthcare organizations.
Identify one or more individuals within your organization to act as “finance counselor” with whom you can consult on financial and budget items, such as costing, estimating, and budget request processes.
With these thoughts in mind:
By Day 3 of Week 1
Post a statement describing at least one gap and/or opportunity for enhanced services or approaches within your healthcare organization. For each gap or opportunity, identify one possible solution, applying systems thinking to your approach. Be sure to address financial (including budgetary) impacts of your solutions, consulting as needed with your finance counselor.
By Day 6 of Week 1
Read a selection of your colleagues’ responses and respond to at least two of your colleagues on two different days and by critiquing the gap/opportunity/solution descriptions; by offering supporting ideas you believe your colleagues should address; or by offering alternative solutions to the issue or specific financial, budgetary, or other challenges you believe their approaches should address.
Note: For this Discussion, you are required to complete your initial post before you will be able to view and respond to your colleagues’ postings. Begin by clicking on the “Post to Discussion Question” link, and then select “Create Thread” to complete your initial post. Remember, once you click on Submit, you cannot delete or edit your own posts, and you cannot post anonymously. Please check your post carefully before clicking on Submit!
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Brainstorming the Business Case
The health care organization is facing a significant challenge in recruiting and retaining skilled nurses. The continuous turnover of nursing staff and high vacancy rates are stressing the cultural and financial standing of the organization. In response, the organization has adopted a range of strategies that seek to address this problem of nursing workforce shortage. Still, there is a concern that the interventions are inadequate and the problem is turning into a long-lasting issue. In all these, what is certain is that the nursing workforce shortage is negatively impacting the quality of care, cost of health care and financial health of the organization. The nursing workforce instability at the organization, as demonstrated by lingering vacancy rates and high nursing staff turnover rates, is a significant challenge. The impact is manifest in dissatisfaction among medical personnel and patients, delays in patient care delivery, and workflow inefficiencies, all of which are concerns that have a significant negative effect on patient safety and quality of care (Weiss, Tappen & Grimley, 2019). Besides that, there are staggering administrative costs that are created by the transient nursing workforce brought in to fill the staffing gap (the organization brings in temporary nursing staff contracted through an agency), a strategy that threatens the organization’s financial viability. A longer lasting solution to the problem of nursing workforce shortage requires investment of substantial resources and new ways of thinking, especially targeted at addressing the shortcomings of the current intervention strategies even as their functional and structural capabilities are improved. This investment does not need to be expensive since where the money is invested is more important. Given that the divers of nursing workforce satisfaction are job design, communication and culture, then the true currency for hiring and retaining the best nursing staff is energy, commitment, vision and leadership. The organization must evolve a new culture that places the satisfaction of nursing staff at the core of its long-term strategies. In investing in this solution, the organization can expect to gain a competitive advantage and achieve solid returns on investment (Vana & Tazbir, 2021).
References
Vana, P. K., & Tazbir, J. (2021). Kelly Vana’s Nursing Leadership and Management (4th ed.). John Wiley & Sons Ltd.
Weiss, S. A., Tappen, R. M., & Grimley, K. (2019). Essentials of Nursing Leadership & Management (7th ed.). F. A. Davis Company.
