The Nurse Leader as Economist

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  • You will examine how nurses and nurse leaders must often think as economists to best understand the healthcare financing concerns of patients, families, and their own organizations. You will also examine how expenses and potential revenues from proposed new healthcare products or services are analyzed, and you will examine the concept of return on investment.
  • Share thoughts about prevalent healthcare financing concerns and consider how these concerns are impacted by economic principles such as price, supply and demand, and need.

To Prepare

  • Research current healthcare financing concerns prevalent in the United States.
  • Reflect on these or any other healthcare financing concerns that you have observed and/or that your healthcare organization currently experiences.
  • Consider how these concerns relate to fundamental issues of economics, such as “price,” “supply vs. demand,” “scarcity of resources,” or “needs and wants.”
  • Consider how these concerns relate to the healthcare product or service solution you have proposed for your organization

References

Penner, S. J. (2016). Economics and financial management for nurses and nurse leaders (3rd ed.). New York, NY: Springer Publishing Company.

  • Chapter 1, “Economics of Health Care” (pp. 3–25)

Garrison, L., & Towse, A. (2017). Value-based pricing and reimbursement in personalised healthcare: Introduction to the basic health economics. Journal of Personalized Medicine, 7(3), 10. doi:10.3390/jpm7030010

 

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