A Brief Economic Analysis Of Nursing Shortage

Current literature continues to reiterate the indicators of a major shortage of registered nurses (RNs) in the United States. The total RN population has been increasing since 1980, which means that we have more RNs in this country than ever before (Nursing Shortage). Even though the RN population is increasing, it is growing at a much slower rate then when compared to the rate of growth of the U.S. population (Nursing Shortage). We are seeing less skilled nurses “at a time of an increasingly aging population with complex care

The demand for full time nurses is continuing to boom in the global market (Buerhaus, Auerbach, & Staiger, 2009). However, the unfortunate shortage of nurses in the global scenario is undeniable (Hunt, 2009). The rate at which nurses are graduating from universities today does not sufficiently quench the ever growing demand for nursing professionals. The issue of providing an active replacement for the nurses who have left their respective organization continues to be a source of main concern for health care institutions.

The US healthcare system is no stranger to nursing shortages. It is a recurring problem we have been faced with for the past seven decades. However, what we will be faced with between now and 2025 is a predicament of far greater proportion than ever encountered before. “Considering the impact this prolonged shortage will have on the USA health care system, nursing and other health-related organizations have even brought their concerns to lawmakers in the central government for immediate consideration” (Janiszewski Goodin 335). This quote is from 2003 and sadly, the state of today’s nursing shortage is still blatantly apparent. Not necessarily because nothing was done back in 2003 to fix it, but

An article in the Health Marketing Quarterly written by Mark Somers, Linda Finch, and Dee Birnbaum (university instructors in schools of management, nursing and business fields in the U.S.) asserts that the nursing shortages of "highly trained nurses and of nursing faculty" is close to a level that could be termed a "crisis" (Somers, et al, 2010). The expected gap between supply and demand will expand to more than a million nurses by 2020, Somers explains, which is twice the shortfall had had been projected just two years prior to this article's publication (292).

The United States healthcare industry faces many challenges everyday, such as the rising cost of care, medical errors, access and quality problems etc. Within the next few years, the United States will experience a shortage of Register Nurses (RNs). “Registered Nurses are considered one of the largest health professions in the health care industry. The Nurses duty is to provide direct patient care and can be done in a hospital, public health facility, nursing home and many other different settings. Other services included are patient education on disease prevention, administering treatments and promoting a healthy lifestyle.” ("The Future of the Nursing Workforce: National- and State- Level Projections 2012-2025”) The shortage will occur due to Baby Boomers aging and the demand for health care will dramatically rise. With the baby boomers aging, Registered Nurses are at the top of the list for demand in health care. Unfortunately the supply and demand does not meet. “According to the Bureau of Labor Statistics’ Employment Projections 2012-2022 released in December 2013, RNs will increase of about 526,800 within that time frame but will still have job openings of 1.05 million by 2020)”("Nursing Shortage") Indicating that there is no growth between 2012- 2022. There are multiple factors to this shortage and one of them is that nursing schools across the nation are struggling to increase the capacity of students to meet the rising demand. Considering the fact

“Registered Nurses represents the largest profession within the U.S. Health workforce” (nursingeconomics.net). The need for registered nurses will continue to grow and the RN with the strongest skill set will be chosen for the job over a candidate who only has formal

The nation has a growing concern for the shortage of skilled nurses in the United States. The growing need of qualified nursing professionals reflects the growth of the aging population. As the retirement of healthcare professionals increase the need for replacement isn’t moving at the same rate. The nursing shortage places demand on nurses to work long hours, multiple jobs and overtime, which places them at risk for nursing errors. There are many incentives that show the increasing need for nursing professional. There are many different scholarships, grants and tuition reimbursement programs being awarded to produce more nursing professionals. The nursing shortage has led to a nursing crisis in most states. In the following research I will discuss some key factors about of nursing shortage, some factors that have an impact of the shortage in the nursing profession, and some economic issues. I will discuss different legislative acts and what was concluded from my research.

The American healthcare system is severely impacted by the shortage of nursing personnel. According to the American Nurses Association (2014), the nursing shortage has compromised patient safety, patient care and patient health outcomes. The nursing shortage can also cause medical errors, result in fatigue, injury and job dissatisfaction. The nursing shortage has been influenced by several factors. The purpose of this paper is to discuss the factors that influence nursing shortage in the U.S, present two strategies to address the issue and my personal recommendation.

The Nursing Profession has been experiencing shortages for many years. The pattern seems to be repetitive, high demand for nurses followed by phases of downsizing with a surplus of nurses. The earlier years of the nursing shortage was short compared to today’s current nursing shortage. The nursing shortage exist globally and in all nursing areas. There are several factors that are the cause of the nursing shortage of today as well in years past.

With over 2 million jobs, registered nurses represent the largest health care occupation (Windle, 2008, p. 209). Although nurses are the biggest health care occupation, there continues to be a shortage in the United States. The shortage has worsened because of rising healthcare costs and a focus on cost containment, which has negatively impacted nurse work environments (Keeler and Cramer, 2007, p. 350). With demand for healthcare expecting to continue to increase and financial pressures becoming more burdensome, these shortages will likely become even more critical in coming years if not adequately addressed (Love et al., 2006, p. 558). The U.S. Bureau of Labor Statistics estimates 1.2 million nurses will be required to fill new and vacated nursing positions by the end of 2014 (Windle, 2008, p. 209).

The purpose this paper is to identify the cause and effect the nursing shortages has on the population locally and globally. Included in this paper is a review of the literature related to nursing shortage and the negative effects it has on the healthcare system and education faculty. Based on several studies, there are several incentives to decreasing the shortage and increasing the nursing population, followed by a brief conclusion.

Nursing shortages have been an issue in the health care field for a few years now. This shortage is seriously impacting nursing homes and the elderly in our society today. With a shortage of 8.1% of nurses in 2008, it is important to understand what is happening to nurses (Addressing the Nursing Shortage, 2010). To help one understand the nurse shortage more, this paper will discuss resource scarcity, stakeholders, economic flows, changes in supply and demand, pricing decisions, along with a business proposal. The business proposal will discuss where the market has a shortage of providers, list of services the firm will provide, explanations of set prices, and who will be hired and how much one will be

It is likely that most people have heard about the nursing shortage for years now, and perhaps they believe it’s been fixed. However, the nursing profession is experiencing a reoccurring deficiency. According to Brian Hansen, (2002), there was a nation wide shortage in 2001 of 126,000 full-time registered nurses, but the shortage will surge to 808,000 by 2020 if something isn't done. This pattern is a persisting cycle of high vacancies followed by layoffs and a high over supply of registered nurses. Various factors contribute to the lack of nurses within the health care facilities, but today’s shortages are a little different. Many feel that this scarcity is severe and long-drawn-out. The four major issues contributing to

The uncertainty in the health care marketplace and opportunities for expanded nursing services make it hard to predict and assess correctly the nursing need. In 1998, Young developed and presented, The Forecasting Model of Nursing Workforce. This model was created to provide government leaders with information to make decisions regarding the impending nursing shortage. This model was intended to help policy makers predict the need for education and employment of nurses. The forecasting model was developed based on supply and demand theories. It assumed that the demand for nurses and their services is similar to the demand for other goods available in the marketplace. The model assumed that predicting the demand for nurses can be done (Dumpe, Herman &Young, 1998). I would expect the demand for the nursing services sub market to be inelastic. Inelasticity is the economic situation in where the supply and demand for a good or service do not change even when the price of that good changes. Nursing services is inelastic because nurses are the frontline of care for the sick. Nursing services are not based on an amount of money but rather have to be supplied no matter the cost. Dumpe, M. L., Herman, J., & Young, S. W. (1998). Forecasting the nursing workforce in a dynamic heath care market. Nursing Economics, 16(4),

According to Paller (2012), the nursing shortage in different countries for example the United States tends not to be the only growing problem, but has also become a complex one. Nursing shortage and nurse's turnover has become the worsening predicament in the health care industry in the United