Chat with us, powered by LiveChat Research and discuss the following terms in a 1- to 2-page document: Opportunity cost Initial costs Continuing costs Induced costs Averted costs Fixed costs Variable cost | EssayAbode

Research and discuss the following terms in a 1- to 2-page document: Opportunity cost Initial costs Continuing costs Induced costs Averted costs Fixed costs Variable cost

 Step 1: Research and discuss the following terms in a 1- to 2-page document:

  • Opportunity cost
  • Initial costs
  • Continuing costs
  • Induced costs
  • Averted costs
  • Fixed costs
  • Variable costs

Step 2: Using one of the studies listed below, research the topics and then formulate two processes to achieve positive outcomes. Then, compare the costs of the two processes by conducting a CEA. You may have to create control and outcome numbers, as well as estimate the costs of each component of the CEA. Use of a comparison table is encouraged. See an example below:

How to do a basic cost-effectiveness analysis. (n.d.). Retrieved from http://www.tools4dev.org/resources/how-to-do-a-basic-cost-effectiveness-analysis/

  1. Increase the number of children receiving an annual flu vaccine in a pediatric clinic.
  2. Decrease the number of “no-show” patients with appointments in a physician’s office practice.
  3. Decrease resident falls in a 100-bed nursing home.
  4. Decrease medication errors in a 500-bed acute care hospital.
  5. Decrease wait time in a hospital emergency department (ED).

Step 3: Finally, from research, how can the program's quality outcomes be measured? No calculations are necessary.

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