As a Master’s level health care practitioner you may be expected to create budget and implementation plans to ensure that economic opportunities for the organization are rolled out successfully and can be sustained over multiple years. Additionally, it is important to be able to envision how an economic initiative could be used for different contexts and purposes to keep the investment a viable and positive asset to your organization or care setting.

Scenario

The senior management members have sent you their thanks and notes on your feasibility study for your proposed economic initiative. They have determined that your proposal has the potential to benefit the organization in both the short and long term. The last step in this process is to complete a thorough implementation plan for your proposed initiative. This plan will need to include a budget of relevant expected material, staffing, and capital costs over the first five years of the initiative (see the Resources for some examples and guides about budget planning), as well as projected earnings from the initiative for the care setting. You must also include a plan and timeline for rolling the initiative out, an analysis of how it may impact other aspects of the care setting, an explanation how it can remain viable in the face of environmental changes, and sufficient relevant supporting evidence.

Instructions

In your 6–10 page plan, you have been asked to be sure to address the following. Note: The bullet points below correspond to grading criteria in the scoring guide. Be sure your work is, at minimum, addressing each of the bullets below. You may also want to read the scoring guide and the Guiding Questions: Implementation Plan for a New Economic Opportunity document to better understand the performance levels that relate to each grading criterion:
•Create a budget for relevant expected costs and earnings or benefits over the first five years of your proposed economic initiative.
•Propose a plan to roll out your economic initiative that will enable your care setting to successfully implement it in an ethical and culturally equitable way that will ensure achievement of quality or service improvements.
•Analyze how your proposed initiative, once implemented, may impact other aspects of your care setting and ways in which negative impacts could be mitigated.
•Explain strategies you have integrated into your proposed economic initiative that will ensure it can remain a viable asset to your care setting in the face of dynamic environmental forces.
•Justify the relevance and value of the quantitative and qualitative economic, financial, and scholarly evidence you used to support your recommendations throughout your plan.
•Communicate your business and implementation plan in a logically structured and concise manner, writing content clearly with correct use of grammar, punctuation, and spelling.
•Effectively support your plan and recommendations with relevant economic data and scholarly sources, correctly formatting citations and references using current APA style.

Requirements
•Length of paper: 6–10 double-spaced, typed pages (not including title page and reference list). Your paper should be succinct yet substantive. ?Be sure to include a separate title page and reference list.
?Your completed budget plan should be included as an appendix within your final submission.

A brief summary of the article you selected. Then briefly explain the interrelationship between the effect size, power, and sample size in the article. Explain whether the effect size was practically significant, statistically significant, or both, and why. Using the article you selected as an example, support the importance of incorporating both practical and statistical significance in study conclusions.

Effect size refers to the strength of a relationship between two variables. It can be expressed through a difference or ratio. Odds ratios, which compare the likelihood of the same event occurring within two separate groups, reflect effect size.
Consider the following two scenarios:
Ten thousand people participated in a survey in which they were asked whether they use a vitamin C supplement and also whether they had experienced cold symptoms the previous winter. The study demonstrated an odds ratio of 1.08 and a p-value of 0.04. Based on this, the researchers recommended the use of vitamin C supplements to avoid experiencing a cold next winter.
Fifty people participated in a survey about stress and a diagnosis of high blood pressure. This study resulted in an odds ratio of 1.6 and a p-value of 0.07. Based on these results, the study was not published and the researchers moved on to other work.
These two hypothetical situations are extremes, but they illustrate the difference between practical and statistical significance. Practical significance is inferred from the size of the effect, while statistical significance is inferred from the precision of the estimate. The effect size reflected in the odds ratio in the first case was 0.08, or an 8% difference in likelihood of a cold based on vitamin C supplementation (small practical difference of 8%, but statistically significant, with a p-value of 0.04). The effect size in the second case was 0.6, or a 60% difference in the likelihood of a diagnosis of high blood pressure based on stress (large practical difference of 60%, but small statistical significance, with a p-value of 0.07).

Consider effect size and how to determine whether practical or statistical significance exists. Select a public health research study from one of the peer-reviewed journal articles listed in the Week 2 Resources. Consider whether effect size is practically or statistically significant in the study.