Applying the Radio-Frequency Identification (RFID) Device in King Abdul Aziz Hospital in the Emergency Department to Reduce the Prevalence of Medication Error (Other (Not Listed) Sample)
Description of the financial project including need for and literature review. Provide a clear description of the program, product or services proposed in the paper.Description of the financial project including need for and literature review. Provide a clear description of the program, product or services proposed in the paper.
Balance sheet and cash flow statement. Financial estimates, analysis and operating budget. Estimate the staffing mix and allocation required.Operational statement showing revenues and expenses.Develop a detailed operating budget, including specific information regarding direct costs, personnel expenses, non-personnel expenses, indirect costs and projected revenue.
Break even analysis; either calculate break even analysis or prepare appropriate financial reports to support your judgment regarding the project’s value and feasibility, relevant charts or tables may be included.Marketing analysis: Description of clients’ characteristics, such as age, diagnosis and client mix, promotional strategies and identification of payers.
Expected outcomes and evaluation. Summary and conclusions: Briefly summarize the business plan. Briefly and clearly justify to the reader why you do or do not support continuing this project as a feasible financial proposal.
Applying the Radio-Frequency Identification (RFID) Device in King Abdul Aziz Hospital in the Emergency Department to Reduce the Prevalence of Medication Error
Executive Summary /Abstract
The proposed program focuses on the application of the RFID device in the emergency department of the King Abdul Aziz Hospital in Jeddah so as to decrease the occurrence of medication errors. The RFID is a technology that makes use of radio waves to transmit data from an electronic tag on an object through a reader so as to recognize and track that specific object. The RFID technology is crucial since it could be used to retrieve patient information speedily and monitor the locations of the patients within the healthcare facility. It could help to accurately match patients with their treatments and medicines. In this way, it aids in reducing medication errors. The goal of the project is to improve patient safety at King Adbulaziz Hospital through the use of RFID technology for decreasing medication errors. The objectives are to apply RFID system in the emergency department of the hospital for use by nurses and other healthcare practitioners; to improve the ordering, dispensing and administration of medications at the hospital; and to ensure that the medications which are administered actually match the patients accurately. The project is both economically and operationally feasible. The breakeven point for the project is calculated as follows: 25,770 ч (25 – 13.5) = 2,240.8 units. What this means is that the emergency department should provide emergency services to 2,241 patients so as to cover its total expenditures. At this level of sales, the hospital would just breakeven but they will not make any profit. The clients who will use the RFID system at the healthcare facility include both children and adults.
Applying the Radio-Frequency Identification (RFID) Device in King Abdulaziz Hospital in the Emergency Department to Reduce the Prevalence of Medication Error
King Abdul Aziz Hospital is one of the largest healthcare facilities in Jeddah, Saudi Arabia. A medication error refers to any error that occurs during the medication process, notwithstanding whether the patient experiences any adverse consequences. Medication errors often take place during the phases of drug ordering and drug administration (Anshel & Levitan, 2010). The errors could take a number of different forms, for instance, missed dosage, wrong route, wrong time of administration, known allergy, wrong medicine delivered/prescribed, or the wrong dosage administered to the patient (Karanjekar & Shrotriya, 2015). While Radio-Frequency Identification (RFID) technology has been utilized extensively in other areas such as supply chain and transportation, its use in healthcare, particularly in the prevention of medication errors is new. For the present paper, the proposed project is applying a RFID device in the emergency department of King Abdulaziz Hospital in Jeddah, Saudi Arabia for the purpose of lowering the prevalence of medication errors. Using relevant literature and financial data, this paper describes the financial management of the aforementioned project, projecting supply, capital and manpower. A cost-benefit analysis is performed.
Description of the Financial Project
The program focuses on the application of the RFID device in the emergency department of the King Abdul Aziz Hospital in Jeddah so as to decrease the occurrence of medication errors. The RFID is a technology which makes use of radio waves in transmitting data from an electronic tag, commonly referred to as an RFID tag, which is affixed to an object, through a reader in order to identify and track that particular object (Marcos, Bilbao & Ramos, 2012). The radio fr...
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