Quant methods for healthcare 5 short Journal entries

Quant methods for healthcare 5 short Journal entries

NOTE: All of these questions are SHORT journal entries (200 words each question), with NO references please! 1) Forecasting is a very valuable tool for healthcare managers and a key component of our quantitative analysis approach to leadership. What is crucial is understanding when to utilize forecasting and which specific forecasting model to apply in your own medical management role. Think about your own healthcare organization (if you are already working in the field) or a healthcare organization in your community, and identify something specific that you would like to forecast for the organization. How would you apply forecasting to that specific service or process, and which forecasting model would be most appropriate and most effective? Be as specific as possible, and explain the rationale for your choices. If you need help in identifying a service to forecast, feel free to contact your instructor for guidance. 2) Why do you feel databases are important in health care? What are some of your concerns about these databases? 3)From your experience, what is an organization’s typical reaction to change? In your opinion, how can the program evaluation review technique (PERT) be used to foster change? Explain. 4)The time value of money (TVM) is a concept that is present all around us. Think of at least one application of the TVM in the real world. Can you think of any instances of this concept in your personal life? Explain. 5) The Unit VI Lesson identifies three commonly used inventory methods: FIFO (first-in, first-out), LIFO (last-in, first-out), and average cost. Which method do you think would be most effective for a healthcare organization? Explain.

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