Sustainability Investment Plan
Instructions: Propose a sustainability investment plan to improve the performance of your work group or organization or an organization you hope to work for. The investment can be made in human resources, in expansion of tangible or intangible assets toward new uses, or in capital equipment or new technology.
Analyze how the investment plan achieves the following:
Contributes to the mission of the company
Expands rewards for all major components of the value chain, which should include the company, employees, suppliers, and customers
Generates wealth or value and is sustainable over time
Evaluates and anticipates risks associated with the investment
Solution.
Capital Investment Plan for CT Imaging Device
Sustainability Investment Plan
Introduction
As a Chief Nursing Staff at Johns Hopkins Hospital, it is imperative to consider capital investments. Therefore, it is evident that they require a stipulated plan that is sustainable. Every investment starts with a strategy which demands that The Johns Hopkins Hospital must follow the four steps: identifying, estimating, deciding and monitoring in the process to install a more advanced CAT scan device. This process involves identifying a department that is making the request, in this case, the Department of Radiography is identified. Then the name of the equipment to invest in according to the proposed plan (the Revolution CT Medical Imaging device) for development at the hospital (Best, 2006). This paper will describe the capital investment proposal on a verdict to adopt the new Revolution CT and how sustainable the investment plan is viable.
Salient Features and Significance of the Equipment
Before any investment is made on the Revolution CT Medical Imaging device, as a CNO, I provided information on how this device can enhance contribute to the primary mission of the Department of Radiography at John Hopkins Hospital. Therefore, this proposal will help justify its implementation to improve quality patient care at the facility. According to GE Healthcare, (2014), Revolution CT presents sustainable benefits regarding clinical, technological and patients’ interface. To begin with, the Revolution CT device meets the technological requirements of every physician with its unique image chain hardware with Volume HD configuration as well as the next generation ASiR technology relative to the existing CAT scan device in the organization. Due to these features, the Revolution CT Medical Imaging device provides excellent images. It is user-friendly since tabbed workflows that allow quick examination access for multiple patients and prompt alerts when tasks are done. Additionally, its clinical benefits are evident as it makes unconventional exams routine. For example, clinicians to deliver breakthrough clinical applications and for physicians and challenging patients. Also, it provides rapid and comprehensive trauma evaluations due to its wide detector. Lastly, it benefits patients in that it gives a better patient experience at a lower base, and prioritizes patients’ experience with its high quality and quick speed. It is sustainable as it provides lower contrast dose and less radiation without damaging the image. Also, it provides a better environment for patients with its ambient lighting and a patent-centered bore pattern (GE Healthcare, 2014). Even though the device is a bit expensive, if invested in, it will help reduce cases of patient’s discomfort.
Team Establishment
Capital investments in healthcare settings are associated with the market factors, financial factors and operational features ( (Kim & McCue, 2008)). The capital investment team are responsible for making decisions to invest in the new Revolution CT Imaging device. This team will offer insights into the strategies and economic ideas on whether to invest on the new device in the market. Additionally, the team will take into consideration on the establishment of training the staff on the use of this new instrument. Since the device is up-to-date with the required sustainable technological aspects, the Chief Services Producer will ensure that all these requirements are evident. Financing of the equipment will be discussed thoroughly. The Chief Finance Officer and the CEO will make critical decisions on implementation of this proposal plan after an extensive financial analysis.
Conclusion
John Hopkins Hospital’s mission is centered on providing better healthcare to the people of US. It
is essential that they clear of the initial CT Medical Imaging devices and replaces it with the new Revolution scan
through adequate capital allocation on the proposed plan. Risks of investing in this devices
will be evaluated, and if the device is
installed in the facility, it will provide significant advantages to the
organization and the customers as well. Therefore, the ratings of John Hopkins
Hospital will increase as they will be able to provide utmost care to its
patients as a health care
organization.
References
Best, K. (2006). Design Management: Managing Design Strategy, Process and Implementation. Worthing, United Kingdom: AVA Publishing Press.
GE Healthcare. (2014, July). Revolution CT. Retrieved August 13, 2016, from GE Healthcare: http://www3.gehealthcare.com/en/products/categories/computed_tomography/revolution_ct#tabs/tabCBE960F89AC8482793C793A4EBFB8809
Kim, T. H., & McCue, M. J. (2008). Association of Market, Operational, and Financial Factors With Non-Profit Hospitals’ Capital Investment. INQUIRY:The Journal of Health Care Organization, Provision, and Financing, 45(2), 215-231.