Employ contemporary economic principles that guide resource allocation decisions in health organizations.
Upon reviewing the annual budget and fiscal standing of Metropolitan Memorial, the CFO has identified shortfalls that will impact the funding of its proposed expansion into rural communities. In order to secure adequate funding from the Board, the operational team must reduce current operating budget by a million dollars.
The CFO requests that you draft a memo to the Board providing justification for the additional funding in light of the shortfall. You should review current literature to support your justification. Your memo should include the following information based on the literature:
This link has information about writing a memo.
1.Clear and thorough explanation of the impact of resource allocation on community . Includes multiple examples or supporting details per topic.
2.Clear and thorough identification of factors that may affect the quality of care by reducing healthcare resources to accommodate budgetary constraints. Includes multiple examples or supporting details per topic.
3.Comprehensive identification of five ways to maximize resource allocation in a selected service line. Includes multiple examples or supporting details per topic.