influence of nursing in health sector and

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1. INFLUENCE OF NURSING IN HEALTH ECONOMICS PRESENTED BY: ANUSIKTA PANDA SENIOR TUTOR

2. INTRODUCTION

3. Economics is the science of scarcity that deals with analysing, structuring, and prioritizing, the choices to maximize output within constrained resources. Health economics has developed into discipline itself due to different size and differential characteristics of health care sector in economy. Health economics developed in the 1960s as a subdiscipline of economics. It applies from the fields of finance, industrial organization, ecometrics, labour economics, public finance, and development studies. Economics is the social science to study the way individuals and organizations engage in producing, distributing, and consumption of goods and services.

4. Health economics Opportunity concept- it is the value of the foregone benefit obtained from the resources in its next best alternative use. Efficiency- it is the maximizing the benefit of resources used. It covers technical efficiency like- meeting a given objective at least cost and allocating efficiency that is producing the pattern of output that matches the profile of consumer wants.

5. Health economy map 1. Concept of health and its value? 3. Demand of health care 4. Supply for health care 5. Market analysis 8. Microeconomics appraisal 2. Factors influence health other than health care 7. planning, budgeting, regulating mechanism 6. Macroeconomics appraisal

6. Needs and importance: Medical advancements in services and treatments, such as organ transplants and gene therapy have provided new treatments and therefore created high expectations. As life expectancy increases, more recourses are required for medical treatments and continuing care. Population have a higher expectation about levels of health and have demanded more and better health care. To formulate health services policy in the form of demand studies or by trying to discover the preference of policy makers. To establish the expected exact costs of delivering health care. To calculate the relative costs and benefits of particular options. To assess the effects of specific economic variables on the use of health services.

7. Growing trends: Growing Acceptance of Telemedicine Proliferation of Remote Monitoring tools Transformational Diagnostics The Rise of Healthcare SaaS

8. ROLE OF NURSES IN HEALTH ECONOMICS: Nursing practice: Proper planning during indenting to manage and to avoid over indenting and by doing regular monitoring of the inventory to avoid near expiry. Error free medication administration to manage over use of medication. Prevention of complication in the treatment procedures to reduce the hospital stay and readmission. Factual documentation or the digitalization of documentation to save time, manpower, and staff strain. Judicial use of resources.

9. Cont …. Nursing administration: The primary focus of nursing is to promote health, prevent illness, and provide direct patient care, nurses also serve as a significant economic power through their contributions to the healthcare industry and society at large. First and foremost, nurses constitute a substantial portion of the healthcare workforce, making up the largest group of healthcare professionals in many countries.   By providing frontline care and support to patients, nurses contribute to the efficient functioning of healthcare systems, helping to reduce hospital readmissions, prevent complications and improve patient outcomes.

10. Cont …. Regular internal Auditing to improve the skill and patient satisfaction. Quality assurance programme to strengthen the infection control team and the nursing educators the will give the staffs in up skilling there work and it also enhances the health economy.

11. Cont …. Nursing education: Nurses also play a pivotal role in promoting population health and wellness, which has significant economic implications for society as a whole. By getting the education the student nurses are involving themselves in the care of patient and also helps the workforce to reduce the strain on the nursing staffs. Providing patient education: the student nurses can provide patient education and health promotion, which involves taking action to enhance the physical and mental wellbeing of patients. Introduction of new courses in nursing will indulge the interest of the students to take part in the courses and will increase the manpower to deliver more and efficient care to the client and will help in advertising and attracting more patients.

12. Nursing considerations: Effectiveness and Efficiency:  Nurses support their institution’s effectiveness and efficiency with individualized nursing care planning, good documentation, and care coordination. With accurate and timely documentation and care coordination, there is reduced care duplication and waste. Coordinating care also helps to reduce the risk of hospital readmissions. Timeliness:  Nurses positively impact timeliness by prioritizing and delegating care. This helps reduce patient wait times and delays in care. Safety:  Nurses pay attention to their patients’ changing conditions and effectively communicate these changes with appropriate health care team members. They take any concerns about client care up the chain of command until their concerns are resolved.

13. Cont …. Patient-Centered Care:  Nurses support this quality measure by ensuring nursing care plans are individualized for each patient. Effective care plans can improve patient compliance, resulting in improved patient outcomes. Evidence-Based Practice:  Nurses provide care based on evidence. Evidence-Based Practice (EBP)now a days increases clinical expertise.

14. Research evidences: A study was conducted by Karen B. Lasater, etal , to determine whether there are differential clinical outcomes, costs, and value among medical patients at hospitals characterized by better or worse nursing resources. Findings revealed that patients in hospitals with better nursing resources had significantly lower 30-day mortality (16.1% vs 17.1%, p < 0.0001) and fewer readmissions (32.3% vs 33.6%, p < 0.0001) The greatest outcomes and cost advantage of better nursing resourced hospitals were in patients with sepsis who had lower mortality (25.3% vs 27.6%, p < 0.0001). Overall, patients with the highest risk of mortality on admission experienced the greatest reductions in mortality and readmission from better nursing at no difference in cost.

15. Cont …. A study was conducted by PhD, RN Ruth M. Neil, etal , to assess whether unique models of nurse led care delivery demonstrates a reduction in inpatient admissions, mean length of stay, and total charges. Findings suggest nursing care partnerships play a key role in reducing healthcare costs by providing services in a more cost-efficient setting and by having an impact on client utilization of services. Savings in potential hospital costs were estimated at £1,590,384.

16. Reference Vati jogindra,2020, Textbook of principles and practice of nursing management and administration. 2nd edition. Jaypee publisher. Arrow, K. (1963). Uncertainty and the welfare economics of medical care. The American Economic Review, 53(5), 941–973. Bodenheimer, T., &  Grumbach , K. (2012). Understanding health policy: A clinical approach. New York, NY: McGraw Hill/Lang. Centers on Budget and Policy Priorities. (2014, March 31). Issues for Congress’ lame duck session. Retrieved June 14, 2014, from  http://www.cbpp.org Stevens, K. (2013, May 31). The impact of evidence-based practice in nursing and the next big ideas. OJIN: The Online Journal of Issues in Nursing, 18(2). Agency for Healthcare Research and Quality. (2021, June).  2019 national healthcare quality and disparities report.   https://www​.ahrq.gov​/research/findings/ nhqrdr /nhqdr19/index​.html   ↵ .