A DNP scholar needs to be able to present a well-designed and inclusive business plan when meeting with stakeholders. DNP-prepared nurses hold roles in executive leadership, use data to translate research to evidence-based innovations at a system level, therefore are key in managing capital budgets and driving improvements from a business plan standpoint (Trautman et al., 2018). Stakeholders must understand the quality impact of a proposed project; however, the financial impact is also key to decision making. The creation of a business plan with extensive financial evaluation allows for transparency in quality and process and ensures successful implementations (Day, 2017). Utilization of business plans and forecasting models are skills that the DNP leader is prepared with to effectively communicate expected outcomes when implementing evidence-based interventions. In my project, I will be demonstrating how the utilization of a diabetes discharge bundle will decrease 30-day readmissions in type 2 diabetics. Single readmissions can cost more than an additional 2 days of hospital stay; therefore, in a business plan, this must be addressed (Bansal et al., 2018). DNP leaders are uniquely positioned to serve as a conduit between senior management in hospitals and frontline staff in developing and implementing high-quality, cost-reducing interventions. DNPs have the knowledge of national benchmarks and how investing in programs will improve outcomes and decrease cost (Sidhaye et al., 2019). Stakeholders’ involvement in understanding a well-planned and executed business plan will instill trust in the process and the project team.
Wishes to all for a happy healthy holiday season, I hope you all find joy and rest!!! I appreciate all I have learned from all of you and especially you, Dr. Kidder, thank you. Look forward to seeing you all in January,
Bansal, V., Mottalib, A., Pawar, T.K., Abbasakoor, N., &Chuang, E. (2018). Inpatient diabetes management by specialized diabetes team versus primary service in non-critical care units: impact on 30-day readmission rate and hospital cost. BMJ Open Diabetes Research & Care, 6(1), doi: 10.1136/bmjdrc-2017-000460.
Day, J. (2017). Inpatient dialysis unit project development: redesigning acute hemodialysis care. Nephrology Nursing Journal, 44(3), 251-255.
Sidhaye, A.R., Mathioudakis, N., Bashura, H., Sarkar, S., & Zilbermint, M.(2019). Building a business case for inpatient diabetes management teams: lessons from our center. Endocrine Practice, 25(6), 612-615. Doi:10.4158/EP-2018-0471.
Trautman, D., Idzik, S., Hammersla, M., & Rosseter, R. (2018). Advancing scholarship through translational research: the role of PhD and DNP prepared nurses. Online Journal of Issues in Nursing, 23(2), 1. Doi:10.3912/OJIN.vol23no02man02.