Economic Tools and Concepts - 1133 Words

Economic Tools and Concepts Michelle HCS/552 University of Phoenix September 3, 2012 Professor Hamilton Economic Tools and Concepts The focus of this paper is to present economic tools and concepts pertaining to a health care issue. The issue is nursing shortage. Nursing shortage is an ongoing issue for the health care system. A supply and demand curve will be presented on the issue of nursing shortage. A marginal analysis will be presented. These tools are designed to explore and evaluate the nursing shortage. Registered nurses (RN) are the largest group of health care professionals in the United States, strengthening the entire health care delivery system (Caron, 2004). It is†¦show more content†¦73). These efforts also are to improve the nursing shortage crisis. Marginal Analysis Organization need to understand how a nursing shortage affects the quality of care and the perception of the organization. A market analysis is a way determining how many nurses and what resources are needed to produce high quality care for the patients. â€Å"Marginal analysis is most effective in the setting of an accurate and valid production possible frontier (PPF) or curve† (Jones Yoder, 2010, p. 45). As an administrator for the nursing units, this would entail assessing the number of nurses on duty with the volume of care provided to evaluate the efficiency of the unit. â€Å"Efficiency in medical care is not just a matter of technical excellence and minimizing the cost of production. More often, it depends on how much is produced and which patient gets treated† (Getzen, 2007, p. 27). Organizations need this understanding to maintain the expectations of the patients. Patients expect high quality service, and it is an organization responsibility to provide such re sources to get the service done. Patients do not want to hear about understaffing, they just want their needs met. Marginal analysis provides the assessment of the organizations resource inputs and production outputs.Show MoreRelatedEconomic Tool and Concepts1121 Words   |  5 PagesEconomic Tool and Concepts HCS/552 August 19, 2013 Economic Tool and Concepts The health care industry has been experience for many century the shortage of nurses. It is perceive by the health care industry the shortage of nursing supply than the demand across the country. The demand for nurses in every health care organization growth in a daily basic as the technology advance. The consumers are always demanding for more personalize and quality of health care services at the time they areRead MoreEssay on Economic Tools and Concepts1606 Words   |  7 PagesEconomic Tools and Concepts As one leader in the free world more money is spent on health care in this country than any other industrialized nation. The major expense to the health care system is managing chronic diseases and illnesses. 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