Does it improve patient outcomes, satisfaction or access, does it decrease turnover, etc.)

For this assignment you will put yourself in the role of a CEO of a health care facility and evaluate two pitches to determine where you should allocate resources.
Choose two elevator pitches from the Unit 7 Discussion Board initial posts and evaluate each pitch, compare and contrast the benefits and risks of each and make a determination about which project is the best allocation of resources for your institution.
For this Assignment, you are required to write a 1,000–1,250-word paper on resource allocation.
Your paper must include:
A detailed summary defining resource allocation
A description of each pitch/project
A description of questions you have or more information you need to make a decision
A description of the analysis you used to make your determination.
Which project do you support and why (does it support organizational effectiveness or efficiency? Does it improve patient outcomes, satisfaction or access, does it decrease turnover, etc.)
Cite at least four references to validate your statements. Prepare this assignment according to the APA guidelines.
Pitch #1:Problem- Many individuals have an extreme fear of MRI machines, causing anxiety and claustrophobia.
Solution- “Introducing In-Bore MRI Cinema where you can give your patients the freedom to relax & stay calm inside an MRI scanner with high quality entertainment of their choice. Our In-Bore MRI Cinema is specifically designed to reduce patient claustrophobia & enhance their MRI experience. The atmosphere created by In-Bore MRI Cinema distracts the patient’s attention delivering a very soothing experience.” (Mumbai, n.d.)
Target market- Patients with high anxiety, behavioral, and other mental health issues. The In-Bore MRI machine also supports patients with hearing problems.
Competition-Facilities that offer MRI services
Team- MRI clinicians, medical assistants, radiologist technicians, MRI technicians.
Financial summary- revenue can range from 500k-700k per year
Milestones-continue to help individuals get the care they need by providing a stress free MRI session with ultimate results.
References
Kryptonite Solutions. Kryptonite Global Solutions-Plot 32, Behind Suvarna Hospital, Shimpoli Road, Borivali (W), Mumbai. (n.d.). Retrieved November 7, 2022, from https://kryptonite.global/products/in-bore-mri-cinema/
Pitch #2:For the Unit 7 discussion and pitch, I chose an (outpatient) Ambulatory Care Facility. This facility has been licensed with the Louisiana Department of Health and Hospitals and has been open for 1 year. I am seeking 100,000 from a stakeholder, John Brown.
Cover Problem: Our facility focuses on same-day surgical care. Our procedures are Ear, Nose, and Throat/ Otalaryngyngology, ear tubes, adenoidectomies, sinus surgery, and nasal septoplaities. Colonoscopy and EGD. General surgery: hernia repair, breast biopsy, and laparoscopic procedures. Orthopedic, Podiatry, and Urology surgeries. Dartmouth Health, (2022). Procedures are covered by Medicare, Medicaid, or Private Pay according to ACS, (2022).
Solution: Medical care – Surgery
Target Market: Infants to elderly.
Competition: Christus Cabrini Hospital and HCA Medical Center.
Team: Administrator (1), Physicians (5), Anesthesiologist (3), RN (15), LPN (12), Scrub Technicians (8), Administrative Staff (6). Yearly salaries: $1,705,000
Financial Summary: ( 1 year )
The average surgical cost is $5,600 x 8 surgeries (per day) (2 operating rooms) = $44,800
$44,800 x 5 (day work week) = $224,000 $224,000 x 52 (weeks in a year) = $11,648,000 Estimated yearly revenue
Estimated Yearly Expenses: Total: $1,793,800
Salaries: $$1,705,000
Lease: $18,000
Utilities: $10,800
Meds /Medical Supplies: $55,000
Office Supplies: $5,000
$11,648,000 (Estimated yearly revenue) -$1,793,800 (Estimated yearly expenses)
= $9,854,200 in estimated yearly profit.
Investment amount: $100,000 (licensing and 1-year opening)
Returned amount: $9,854,200 (net profit)
Gain: Annualized ROI: $9,754,200 ( gain)
References
Dartmouth Health (2022). Procedures Performed at the Ambulatory Surgery Center.
Retrieved from: https://dartmouth-hitchcock.org/asc/procedures
ASC (2022).Outpatient Prospective Payment System/Ambulatory Surgical Center Rule.
Retrieved from: https://facs.org/advocacy/regulatory-issues/payment-rules/outpatient-prospective-payment-system