DNP-815A Topic 6 DQ 2 How can economic theory be applied to your proposed DNP Project?
DNP-815A Topic 6 DQ 2 How can economic theory be applied to your proposed DNP Project?
Topic 6 DQ 2
Aug 11-15, 2022
Economic theory must be utilized by the DNP-prepared nurse. How can economic theory be applied to your proposed DNP Project?
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Usama Saleh
Aug 17, 2022, 8:14 AM
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CAT-Please Respond!
Class,
What are the concepts being learned during this week?
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DeShonique Williams
replied toUsama Saleh
Aug 17, 2022, 10:43 AM
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Dr. Saleh.
- We are discussing the economic and psychosocial theories of nursing. The six components of the psychosocial theory are Psychoanalytic theory supports the notion that all human behavior is caused and can be explained (deterministic theory).
- In each stage, the person must complete a life task that is essential to his or her well-being and mental health.
- One’s personality involves more than individual characteristics, particularly how one interacts with others.
- Humanism represents a significant shift away from the psychoanalytic view of the individual as a neurotic, impulse-driven person with repressed psychic problems and away from the focus on and examination of the client’s past experiences.
- Behaviorism is a school of psychology that focuses on observable behaviors and what one can do externally to bring about behavior changes
- Existential theorists believe that behavioral deviations result when the person is out of touch with himself or herself or the environment.
My DPI population largely reflects the humanistic and behavioral as patients are noncompliant with hypertension regime although we administer free blood pressure medication. We believe the intervention of the DASH diet may assist with the problem. In addition we also have discussed the economic theory of nursing. In this theory our patients consideration include the cost effectiveness of the procedure. As clinicians we evaluate our options and outweigh the cost. In theory, this often considers the long term cost effects. For instance, although providing free medications may seem expensive the cost of this intervention is far cheaper than the frequent emergency department visits patients seek in order to treat conditions covered by the PCP. Hence, the DPI would address this issue.
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5520799/#:~:text=Economic%20theory%20suggests%20that%20a,benefits%20outweigh%20the%20opportunity%20cost.
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Emilia Wogu
Aug 16, 2022, 7:50 PM
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Economic theory is based on a model of human behavior that assumes rationality, a primary motivation to be happy, and the ability to calculate subtle differences between possible trade-offs. The goal of economic theory is accurate prediction of the choices people make regarding resource allocation. . (Scott, et al 2001). Efficiency in resource use (getting the most out of limited resources) is a goal that every health-care organization can accept, regardless of one’s perspective (e.g., that of society, insurers, hospital administrators, or patients). Economic analysis is fundamentally about resource use and can serve an important role in health-care decision-making.
My DNP project is on patient centered fall prevention measures. The sequelae from falls are costly. Fall-related injuries account for up to 15 percent of rehospitalizations in the first month after discharge from hospital. Inpatient fall rates range from 1.7 to 25 falls per 1,000 patient days, depending on the care area. Extrapolated hospital falls statistics indicate that the overall risk of a patient falling in the acute care setting is approximately 1.9 to 3 percent of all hospitalizations. Based on data from 2000, total annual estimated costs were between $16 billion and $19 billion for nonfatal, fall-related injuries and approximately $170 million dollars for fall-related deaths across care settings in the community. As health care moves toward patient-centered care, fall-related-injury prevention now has the potential to be addressed across the care continuum (Currie,2008. In the United States, there are approximately 37 million hospitalizations each year. Therefore, allocation of the scarce resources of nursing care becomes the responsibility of the frontline nurse.
References
Currie L. (2008) Fall and Injury Prevention. Patient Safety and Quality: An Evidence-Based Handbook for Nurses. Rockville (MD): Agency for Healthcare Research and Quality (US); 2008 Apr. Chapter 10. Available from: https://www.ncbi.nlm.nih.gov/books/NBK2653/
Scott, R. D., Solomon, S. L., & McGowan, J. E. (2001). Applying Economic Principles to Health Care. Emerging Infectious Diseases, 7(2), 282-285. https://doi.org/10.3201/eid0702.700282.
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Usama Saleh
Aug 16, 2022, 8:58 AM
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Application of Economic Theory
Class,
I would like to share with you the below article which presents two applications of economic theory to the delivery of nursing services in acute care hospitals and evaluates its usefulness in guiding nursing administration research.
Jones, T. and Yoder, L (2010). Economic Theory and Nursing Administration Research—Is This a Good Combination? Nursing Forum, (45) 1, 40-53. DOI: 10.1111/j.1744-6198.2009.00160.x
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Usama Saleh
Aug 16, 2022, 8:57 AM
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Economic Theory and Nursing Research
Students,
Is there a research question from your practice that could be situated in an economic framework for study? Which sorts of nursing questions can you imaginatively explore using economic concepts and analysis?
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Usama Saleh
Aug 16, 2022, 8:57 AM
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Replies to Usama Saleh
Scarcity and Health Care Economics
Students,
Scarcity is the key component of economics and means having too few resources to satisfy the needs and wants of humankind. Without scarcity, the science of economics would not exist because there would be no need to make choices or tradeoffs. Choices made to overcome scarcity via alternatives are of particular interest to economists. Contemporary economics can be broadly divided into two fields: (1) Microeconomics: Behaviors in individual markets and small economic units to understand their behavior within the market; and (2) Macroeconomics: The “big picture” market that consider aggregate functions of all markets
Health care economics is a recently developed specialized field and is differentiated by the level of government intervention, intractable uncertainty, asymmetrical information, and externalities it involves. Uncertainties in particular lead to inefficient resource allocation in health care that forces non-market institutions to compensate for inequalities.
Why are uncertainties related to disease incidence and treatment efficacy of particular concern to health care economists?
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Ruby Minda Dangan
replied toUsama Saleh
Aug 17, 2022, 12:21 AM
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Macroeconomics and microeconomics are the two branches of economic discipline, but the majority of health economics’ theoretical basis is microeconomics which focuses on the behavior of market actors and analyses how their behavior influences supply and
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demand (Olsen, 2017). The relationship between health and wealth propounds that the reduction in poverty strongly impacts life expectancy, whereas an increase in wealth has no further positive impacts on longevity. Scarcity is one of the key concepts at the heart of economics, and it is a dismal fact that resources are scarce. The concepts of cost-effectiveness and productivity represent that it is possible to reduce the amount of labor or capital without decreasing the quantity produced.
The economic evaluation of healthcare interventions has focused on the measurement of health outcomes and alternative measures to preventive healthcare. Healthcare expenditure in rich countries has a high proportion of government-funded healthcare and a high life expectancy.
Olsen, J.A. (2017). Principles in health economics and policy. Oxford University Press.
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Also Read: DNP-815A Topic 6 DQ 1 Psychosocial theory