Taking on quality improvement projects is vital for healthcare institutions’ continued sustainability in an increasingly challenging healthcare environment. As a nurse, it is my moral obligation to oversee this continuous sustainability by addressing healthcare challenges (Health Catalyst Editors, 2019). Currently, I am a nursing practitioner at one of the most formidable hospitals, and as such, I have formulated a practical quality improvement healthcare example that may be useful in my application of CQI. This example provides activity-based costing, which accelerates decision support to offer Medicare, financial and operational improvement.
As a nurse, I must fully comprehend and thoroughly manage costs necessary for addressing factors that hinder sustainability (Health Catalyst Editors, 2019). To facilitate this, I plan to implement activity-based costing (ABC) to assist in service line reports, contractual modeling, and medical quality assurance by delivering comprehensive and meaningful financial information across an analytical environment. This will enable me to effectively reduce costs and enhance clinical outcomes in medical service lines such as Orthopedics and surgical services. Through its analytical platform, the ABC model will improve quality and reliability, cut costs, and increase value across service lines. I can effectively make decisions and operational changes through efficient accounting, process delivery, and accurate recording. Of course, these steps will lead to the following quality improvements;
- Monthly review of preliminary results.
- Early and quick combination of data for executives.
- Reduced chances of error.
- Supported the implementation of a new data-driven governance framework.
- Simultaneous running of multiple month’s data.
- Improves and accelerated decision-making.
- Increased time frame for data validation and analysis.
Health Catalyst Editors (2019). The Top 6 Examples of Quality Improvement in Healthcare. Health Catalyst. (2019). Retrieved from https://www.healthcatalyst.com/insights/top-examples-quality-improvement-healthcare/