NR 533 FINANCIAL MANAGEMENT IN HEALTHCARE ORGANIZATIONS BUSINESS PLAN WORKSHEET

Use this worksheet to record the data and information you collect over the period of the
course you will use to complete the final assignment: Business Plan. Spending time each
week relating the lessons and readings to your project and recording hard data as well as
your assumptions/conclusions here will make it easier for you to be thorough on the
assignment. Remember, every line of this business plan worksheet may not necessarily
pertain to your project. When it doesn’t you need to indicate it as such by stating why it is
not on the worksheet.
You will submit this worksheet as part of your final paper in the Appendices. However, this
is looked as your notes and data sheet and will not be graded for format, spelling, sentence
structure, etc. Use it freely….
Business Plan Worksheet
PROJECT DEVELOPER:

PROJECT TITLE: Hand Hygiene Quality Improvement

PICOT QUESTION: Can nurses reduce nosocomial infection through hand hygiene compliance and how important

is hand hygiene at reducing nosocomial infections?

EXECUTIVE SUMMARY: Healthcare acquired infections (HAIs) affect an alarming number of patients and families

every year. The results of HAIs is evident in the number of deaths reaching more than 72,000 patients and

costing healthcare organizations billions of dollars each year insert cit. Over a period of six months a team will

be established with defined roles, responsibilities and set goals. Evidence-based research will be used to

establish goals and best practices. “Observers” will be trained to collect current hand hygiene practices. Staff in

the pilot office will be observed and educated on proper hand hygiene practices, after evaluating data, staff will

be re-educated and evaluated as needed. At the conclusion of six months, final data collection will be compiled

into a report, evaluated and presented with the goal of changing practice and disseminating change information

to all parties involved. Anticipated outcomes include increased compliance, patient outcomes and decreased

costs.

PROJECT DESCRIPTION:

 Form team/roles and responsibilities

 Research current EBP
 Collect current hand hygiene compliance rates & HAIs
 Educate staff
 NR 533 FINANCIAL MANAGEMENT IN HEALTHCARE ORGANIZATIONS BUSINESS PLAN WORKSHEET

 Collect data post education

 Evaluate data and re-educate
 Disseminate findings
 Implement the change

IMPLICATIONS FOR ORGANIZATIONAL MISSION: (how does project align with and enhance the organization stated
mission and strategic goals)- provide compassionate, accessible, high quality, cost effective healthcare to the
community; to promote health; to educate healthcare professionals; and to participate in appropriate clinical
research
 Clinical research
 Educate staff
 Promote health

IMPLICATIONS FOR STAKEHOLDERS:

• Cost of employees off unit to research/implement

• Cost to train staff

• Cost of supplies

•  Affects multiple departments

MARKET ANALYSIS: (market defined, impact of project on the market; forecasted contribution of project to market
share, demographics, utilization rates, any competitors for the service, clinical/tech advances; anything that might affect
demand)

Target population:

Market size:

Payer considerations:

Competitive factors:

Projected volumes

OPERATIONS: potential impact on clinical and service quality-improved outcomes, - HAIs= + $$$

Location of and space for service-education rooms, skype training, healthstream

Management structure-nursing led prep project, involve pharm, IT, med. Staff, admin,

Staffing-prep project can be used to

Equipment-dispenser in place, sinks accessible?

MARKETING PLAN:

At least two marketing strategies (external- and internal- building awareness; physician directed; targeted
consumers)-posters/buttons/pins, get well network to educate/empower patients to ask for compliance

INSTITUTIONAL BRAND IMPACT: improved outcomes increases patient satisfaction, more reimbursement/less wasted
costs treating HAIs =lower cost for patients=happy patients/press ganey/stars ratings
 NR 533 FINANCIAL MANAGEMENT IN HEALTHCARE ORGANIZATIONS BUSINESS PLAN WORKSHEET

FINANCIAL ANALYSIS:

Capital Costs-accessibility of sinks

Operational Costs-hand sanitizer dispensers and sanitizers, educational tools

Payer type/payer mix-medicare/medicaid

Break – even analysis and Cost/benefit ratio

REQUIREMENTS FOR PROJECT:

Launch/implementation timeline-6 months

Facility requirements

Informatics requirements-tracking tools for compliance

Medical staff requirements-education

Staff requirements-education

Regulatory Hurdles-OSHA requirements for placement of dispenser/sinks r/t outlets, doors, etc

Payer contracting needs-none

FEASIBILITY:

Risk Assessment: SWOT analysis- Strengths:

The organization already has standard precautions in place across the organization. The infection prevention
team currently monitors compliance rates and infection rates and can provide baseline information. Nurses have already
been trained in proper hand hygiene.

Weaknesses:

The organization is very large so the cost of completing a thorough roll out system wide could be prohibitive.
With such a large size it will be almost impossible to include staff from each department in the initial phase, therefore it
will take a significant amount of time to roll out system wide. Neither party in observations can be blinded.

Opportunities:

The opportunities with this project are many. Improved hand hygiene compliance decreases nosocomial
infections which leads to greater insurance reimbursements, improved patient outcomes, improved patient satisfaction
scores and increased compliance with Magnet and PCMH standards for recertification purposes.

Threats:

Threats to the project are mostly internal as cost is always a factor as well as time and staffing resources.

Launch/Implementation challenges-large project system wide, incremental approach to implement after pilot