Effects of financial and economic factors in a health care system

    Competency 1: Analyze the effects of financial and economic factors (such as cost-benefit, supply and demand, return on investment, and risks) in a health care system on patient care, services offered, and organizational structures and operation. Analyze the economic factors of supply and demand associated with a proposed initiative, within a context relevant to a particular organization or care setting. Competency 2: Develop ethical and culturally equitable solutions to economic problems within a health care organization in an effort to improve the quality of care and services offered. Explain why a proposed initiative presents a viable and beneficial economic opportunity for an organization. Competency 3: Justify the qualitative and quantitative information used to guide economic decision making to stakeholders and colleagues. Explain how relevant economic and environmental data support a proposed initiative.