HCM FPX 5310 Assessments 3 Feasibility Study of Virtual Healthcare Solutions

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HCM FPX 5310 Assessments 3 Feasibility Study of Virtual Healthcare Solutions

Student Name

Capella University

HCM-FPX 5310 Decision-Making in the Healthcare System

Capella University

Date:

Executive Summary:

Whittaker Memorial Hospital, established to cater to the healthcare needs of the low-income African American community in Newport News, Virginia, is undergoing a feasibility study to capitalize on market opportunities and enhance its financial standing. This study aims to explore the implementation of a cost-effective and easily accessible healthcare solution, with a focus on new initiatives to drive growth amid a severe economic crisis.

Organization Background:

Founded in 1908 by African American physicians excluded from nearby “white” hospitals due to racial segregation, Whittaker Memorial Hospital expanded over the years. However, it faced administrative challenges and financial crises, leading to closure in the 1990s. The hospital’s mission remains rooted in providing low-cost healthcare to its community.

Current Customers and Client Base:

Newport News, with a population of 187,353, has a median household income of $68,792 and a poverty rate of 14.83%. Whittaker Hospital’s revenue streams, last reported in 1995, showed challenges, particularly in the psychiatry department and the Emergency Room.

Staff and Tax:

Staff at Whittaker Hospital reduced from 200 to 100 medical personnel. Operating as a non-profit, the hospital faced payroll taxes of $10,112,009 in 1995.

Objectives of the Proposed Program:

To address financial debts and ensure sustainability, Whittaker Hospital must innovate. The proposed Virtual Care solution aims to lower operational costs by 30%, increase profit by 40%, expand the client base, rebuild reputation, and provide quality care.

Competitive Analysis:

While other community hospitals offer virtual care, our interactive program stands out, allowing patients to upload comprehensive health data. Marketing efforts will highlight these unique features for a competitive advantage.

Analysis of Financial and Economic Issues:

Telehealth can enhance healthcare access for low-income and rural communities, aligning with Whittaker Hospital’s mission. However, concerns about internet access for community members must be addressed.

Risk and Failures Analysis:

Potential risks include community members lacking internet access, potential job reductions, and resistance to change. Training programs, community partnerships, and continuous monitoring are vital for program success.

Contingency Planning:

Continuous monitoring, feedback channels, and a training program for existing staff will help mitigate failures. Emphasizing job skill development can positively impact the community.

Program Funding:

Although Whittaker Hospital faces financial challenges, the proposed Virtual Care program aligns with state and federal reimbursement programs, including Medicaid and CHIP. Insurance coverage for virtual care is expanding, making the program financially feasible.

In conclusion, the proposed Virtual Care program not only aligns with Whittaker Hospital’s mission but also presents a viable solution to address financial challenges and ensure community-focused healthcare services.

Cost Analysis

The financial assessment indicates that the program is financially feasible, as it can be sustained by reducing operational and maintenance costs. Initial investments are required for infrastructure, data center, IT staff, training, and SAAS applications, totaling approximately $150,000 to $200,000 (Horiachko, 2022). The ongoing operational and improvement costs can be supported by government programs, such as the Affordable Care Act (ACA), specifically designed to assist the low-income community (Paradise et al., 2017).

Infrastructure Implementation Costs

Implementing on-prem servers and infrastructure can be expensive. Alternatives include building a data center, utilizing cloud infrastructure, or adopting a SAAS solution. Microsoft Azure or Amazon workspace solutions offer cost-effective options for launching the infrastructure program.

Virtual Care Application Platform Costs

The growing demand for virtual healthcare necessitates investing in accessible and secure Virtual Healthcare apps. Various SAAS applications customizable to patient needs are available in the market.

Patients’ Data Security Programs Costs

Securing healthcare data is paramount. Investments in cybersecurity solutions, including data in transit and data at rest encryptions, are crucial. Compliance with HIPAA regulations is essential, requiring the establishment of information security policies and processes (Paradise et al., 2017).

Marketing Strategies

To promote the program successfully, a combination of online and traditional marketing strategies is recommended. Online platforms such as Facebook, Instagram, Twitter, TikTok, Google ads, mobile apps, and email advertising can effectively reach the community. Additionally, traditional approaches like word-of-mouth, local radio, and advertisement through local retail shops can be impactful (Taylor, 2021; Lamplugh, 2021).

Analysis of Program Effectiveness

While the program aims to benefit the community, regulatory implications and data security issues must be considered. Compliance with HIPAA is critical, and the hospital should invest in Information Technologies solutions and legal staffing to ensure adherence to government rules and regulations (Morgan et al., 2022).

Recommendations

Proposing a Virtual Preventative Healthcare Portal aligns with the hospital’s mission to provide better healthcare. This innovative, cost-effective solution requires minimal infrastructure investment and has the potential to generate revenue. However, ethical decisions, such as workforce considerations, must be addressed, and departments for Information Technology and Legal compliance should be established to ensure long-term success.

References

AAMC (2018). Physician Supply and Demand, A 15-Year Outlook: Key Findings Retrieved from: https://aamcblack.global.ssl.fastly.net/production/media/filer_public/20/0a/200adc1a-fd4f-4903-a079- 474fdeb0f9ba/workforce_projections-15-yearoutlook-key_findings.pdf

Alvandi, M. (March 2017). Telemedicine and its Role in Revolutionizing Healthcare Delivery. Retrieved from: https://www.ajmc.com/view/telemedicine-and-its-role-in-revolutionizinghealthcare-delivery

AdvancedMD (2020). Maximizing patient likes and minimizing staff dislikes about telemedicine. Retrieved from: https://info.advancedmd.com/7WaysDoMoreWhatWorksLessOfWhatDoesnt.html?kw=benefits %20of %20telemedicine&mkwid=627565565_cmpid_116345748134_adgid_c_dvid_497397287481_pc rid_b_pmt_benefits%20of %20telemedicine_pkw__plid&hxmlsid=googleppc&gclid=EAIaIQobChMI7aH0-fGcwIV4gB9Ch2zbwNxEAAYAiAAEgJzIfD_BwE

Andrews. V. (September 2021). 5 Benefits Of Virtual Care Retrieved from: https://www.verawholehealth.com/blog/5-benefits-of-virtualcare#:~:text=Virtual%20care%20helps%20patients%20and,healthier%2C%20and%20more %20productive%20employees.

AT&T Business (April 2020). Transforming the digital hospital Retrieved from: https://about.att.com/newsroom/2021/remote_patient_monitoring.html

Cranford, L. (August 2018). How Older Adults Feel About Telemedicine. Retrieved from: https://chironhealth.com/blog/older-adults-feel-telemedicine/

Cornwall, L. (2022). What’s next in telehealth? 6 trends to watch in 2022. Retrieved from: https://chghealthcare.com/blog/telehealth-trends/