How to write a Finance and Economics in Healthcare Delivery essay (Answered)

How to write a Finance and Economics in Healthcare Delivery essay (Answered)

Summary: It is universally agreed that a well-designed healthcare delivery system should provide timely and convenient access to patient care services (Bradshaw & Raphaelson, 2021). The issue of prolonged waiting time is a barrier to obtaining services in many healthcare organizations and this hinders profitability. According to evidence, the degree to which patients are satisfied with the services received is directly related to the quality of the waiting experience (Gjolaj et al., 2016). To address this issue, my proposal involves using quality improvement tools that can allow timely assessment of patients and prioritization of care. Improving waiting time in the outpatient department can have a huge impact on patient satisfaction and overall productivity in the organization.

Implementing new healthcare services requires an analysis of the benefits and risks associated with the service. A SWOT analysis gives an acceptable perspective of the strengths, weaknesses, opportunities, and threats that can arise from the implementation of the new service (Penner, 2016). The strengths associated with improving outpatient waiting times in the organization include strong support of change from the administration, effective coordination and support workers available, an organized place to work, and strategic location of the outpatient working stations. A few weaknesses that may impede the new service include a lack of enough trained staff, poor signage and place constraints, and a lack of adequate staff (Gjolaj et al., 2016). the implementation of the new service provides the organization with the opportunity to grow the patient volume, attract quality healthcare providers, and improve patient satisfaction. Threats to the new service may include staff resistance, dissatisfied patients, and stiff competition from other institutions.

The proposed solution to address the issue of waiting time in the facility involves the use of the plan-do-check-act method (Gjolaj et al., 2016). This measure will involve conducting a thorough analysis of the causes of delays in the outpatient. To address these delays, the nurses will be tasked with identifying ready patients and notifying healthcare providers via a computerized system. The cost-benefit analysis of the new change demonstrates that the initial expenditure will be high. For example, the organization will require to hire extra staff that will be tasked with reviewing the needs of each patient before notifying the physicians. Secondly, a lot of time will be required to streamline services in the ER to reduce the average waiting time to the required standard. The long-term benefits of the new service include improved patient satisfaction and reduced costs resulting from complications of delayed treatment (Sun et al., 2017). Improved patient satisfaction will lead to more patients visiting the facility and increased reimbursements from the CMS.

Elevator Speech

The amount of time patients take to be seen is a key factor influencing the utilization of healthcare services today. Improving waiting time, especially in the outpatient department is an opportunity to gain the trust of the community and improve the quality of care given to patients. The proposed solution to address this issue in my healthcare organization will involve the use of the plan-do-check-act (PDCA) tool.

One of the key benefits of implementing this new service is to improve patient satisfaction. Reducing the waiting time will attract more patients which will increase revenue generated from outpatient services. The availability of support from the organizational leadership and the strategic location of outpatient stations will influence the adaptation of the new service. Key challenges include a lack of adequately trained staff and the already dissatisfied patients. Overall, implementing this service will improve revenue and address the issue of patient satisfaction in the facility.


Bradshaw, A., & Raphaelson, S. (2021). Improving patient satisfaction with wait times. Nursing202151(4), 67-69.

Gjolaj, L. N., Campos, G. G., Olier-Pino, A. I., & Fernandez, G. L. (2016). Delivering patient value by using process improvement tools to decrease patient wait time in an outpatient oncology infusion unit. Journal of Oncology Practice12(1), e95-e100.

Penner, S. J. (2016). Economics and financial management for nurses and nurse leaders (3rd ed.) New York, NY: Springer Publishing Company.

Sun, J., Lin, Q., Zhao, P., Zhang, Q., Xu, K., Chen, H., … & Liu, Y. (2017). Reducing waiting time and raising outpatient satisfaction in a Chinese public tertiary general hospital-an interrupted time series study. BMC Public Health17(1), 1-11.

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