FE005 Financial Health and Nurse Entrepreneurs

FE005 Financial Health and Nurse Entrepreneurs

Student Name

 University

NURS 6211 Finance and Economics in Healthcare Delivery

Prof. Name

Date

Proposal

Implementation of a Telemedicine Program for Obstetric Patients

The proposed initiative aims to introduce a telemedicine program tailored specifically for obstetric patients. This program will be implemented across multiple facilities within our organization, allowing us to reach a wider patient radius. By embracing telemedicine, we align with our organization’s mission of fostering caring relationships to support our patients’ journey to health and wellness.

Benefits

• Low Cost of Implementation: Telemedicine offers a cost-effective solution compared to traditional in-person consultations.
• Potential for Growth: The telemedicine program presents substantial opportunities for growth, not only within clinics but also by facilitating increased utilization of hospital services.
• Improved Patient Satisfaction and Engagement: Through the convenience and accessibility of telemedicine, we anticipate enhanced satisfaction levels among patients, leading to increased engagement with their healthcare.

Financials

• Return on Investment (ROI): Projections indicate an impressive ROI of 248% over a five-year span.
• Cost Benefit: The cost benefit analysis demonstrates a favorable ratio of $11.78.
• Payback Period: With a payback period of less than one year, the financial viability of the telemedicine program is evident.

Conclusion

In conclusion, the implementation of a telemedicine program for obstetric patients presents an opportunity with minimal startup costs yet promising returns. This initiative not only generates significant revenue but also sets the stage for even greater future growth and innovation in healthcare delivery.

NURS 6211 Assessment 5 FE005 Financial Health and Nurse Entrepreneurs