Method Of Standardization

Many industry specialists believe that the use of forecasting can standardize the healthcare industry by regulating and controlling costs and creating a more affordable system for all patients. However, forecasting does have its disadvantages. Read the following article: http://www.ajmc.com/journals/issue/2012/2012-3-vol18-n3/the-promise-and-peril-of-healthcare-forecasting/ After reviewing the article, compose a two- to three-page paper that discusses three examples of how an organization can standardize products, service lines, and experiences to enhance efficiency and manage cost. Summarize each method of standardization you have presented. Discuss the pros and cons of each method of standardization. Next, compare and contrast the methods you have chosen with successful strategies that have been used in other industries. Detail how these can be applied to the healthcare field. Include a reflection on the importance of standardization as it applies to meeting industry benchmarks and best practices.