Financial Impact Assignment Guidelines and Rubric 15% of Grade
Links to student learning outcomes 1, 7
This assignment is intended to have you be able to describe the costs and benefits of your capstone project. There is not a page limit. This can be a brief paper as long as you are able to communicate the required content. This assignment is worth 15 points
Think about what financial incentives your capstone project presents—refer to your Waxman text readings to answer the following questions:
• What are the cost benefits? Are you able to perform a break even analysis? How could the benefits of this project cover the implementation costs many times over? How will this project save your organization money?
• Use whatever financial calculations you think would be most appropriate to conduct this cost benefit analysis.
This must be done in paragraph format, but should also include a table with the financial estimates used to come to your conclusions. For instance, if you know your project will cost the organization $10,000 to implement (hypothetically), but your length of stay or readmissions will decrease, how will this affect reimbursement? Feel free to use your capstone in a grander scale to prove your point (cost of full time employee to sustain the change throughout the health system?). Essentially, you are creating a business case for change. This could eventually be used to sustain the change of your capstone project and may be of future use if you try to encourage your executive board to continue or expand upon the project. DNP’s should be able to discuss both the clinical outcomes as well as the financial outcomes of their work. There is not a certain dollar amount or costs savings required. Not all projects will have the same benefits. Some estimates may be hypothetical if you do not have access to actual costs. The important thing is the thought you put into describing your financial benefits.
An example of a return on investment (ROI) table has been provided. Please refer to your Waxman text and Riegg PDF reading for other examples (cost-effectiveness, cost-benefit, break-even, etc.)
Required Components Points Available Points Received
Describe cost benefit of project-use. Be sure to describe why implementation of this project is important in relationship to the project site—using reimbursement and financial concepts applicable from your Waxman text (For example, does pay for performance, or value based purchasing apply?). Use whatever financial calculations you think would be most appropriate to conduct this cost benefit analysis. 5
Cost benefit /saving/reductions, etc. or whatever your point is in table format 5
APA format, grammar, spelling, mechanics 5