Economic Issue and Its Impact
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Assessment Overview:
You build on the problem you found in Assessment 1 in Assessment 2 of NURS-FPX 6008 Economic Issue and Its Impact. This step needs a thorough look at how the economic problem affects things. You aren’t just saying “this is a problem” anymore; you’re also showing how it affects the whole organization, including staff morale, patient safety, and the bottom line.
To justify the use of resources, a nurse leader must be able to explain these effects to stakeholders. By using ethical principles, you make sure that the impact analysis includes the human cost. This means looking at how financial strain could lead to health inequities or lower safety standards.
How to Pass Economic Issue and Its Impact
- To get a “Distinguished” grade, your analysis needs to be based on evidence and have many parts:
- Quantify the effect by using specific metrics. If the problem is Hospital-Acquired Infections (HAIs), figure out how much each one costs and how much the facility loses each year.
- Analyzing Stakeholders: Explain how this economic problem affects different groups, such as patients, nurses, and the top management.
- Ethical Lens: In a separate section, talk about how the current economic situation makes it harder to follow ethical principles like beneficence and non-maleficence.
Sample Assessment:
NURS-FPX 6008 Assessment 2: Economic Issue and Its Impact
Introduction: The Scope of the Problem
Sepsis is still one of the most expensive things to treat in U.S. hospitals. At our local facility, patients take an average of 3.2 days longer to receive a sepsis diagnosis than they should. This study looks at how these delays affect the economy and health care.
Financial and Operational Impact
The organization spends about $2,500 on direct costs for each “Sepsis Day.” Furthermore, if these patients come back within 30 days, the organization will face big fines under the CMS Hospital Readmissions Reduction Program (HRRP). Using the ethical principles of stewardship, we see that the $1.2 million lost each year due to poor management of sepsis could have been used for community wellness programs or to keep staff.
Applying Ethical Principles to the Impact Analysis
Applying ethical principles of justice is the most important thing to do when looking at impact. Data indicates that patients from lower socioeconomic backgrounds frequently exhibit more advanced sepsis. We are not doing our duty of beneficence if our economic model does not take into account the “social determinants of health.”
The current economic impact is more than just a loss of money; it is also a loss of trust. We must be honest with our stakeholders about our “current state” and how it doesn’t meet the fidelity we owe to our patients to provide timely, life-saving care.
The Human Impact: Staff Burnout
When there aren’t enough staff members to care for high-acuity sepsis patients, the stress on the economy leads to burnout. This operational impact causes even more turnover, making the economic problem found in Assessment 1 even worse. By following ethical principles, we must keep our employees from moral distress, which is the pain of knowing what to do but not being able to do it because of a lack of resources.
Conclusion
A healthcare economic issue always has effects that go beyond money. Nurse leaders can show how financial decisions can have a big impact on both patients and the healthcare system as a whole by always following ethical guidelines. This evidence makes a strong case for making the system better.
References (APA 7 Format)
- Healthcare Cost and Utilization Project (HCUP). Sepsis Statistics and Costs. Explore HCUP Data
- American Nurses Association (ANA). The Value of Nursing Care. Read ANA resources.
- Centers for Medicare & Medicaid Services (CMS). Hospital Readmissions Reduction Program. Visit CMS HRRP
- Gapenski, L. C., & Reiter, K. L. (2020). Healthcare Finance: An Introduction to Accounting and Financial Management. Search on Google Books
- Quality and Safety Education for Nurses (QSEN). Informatics and Quality Improvement. View the QSEN Website
Rubric Breakdown
| Criteria | Proficient | Distinguished |
| Impact Analysis | Describes the impact of the economic issue on the organization. | Critically analyzes the clinical, operational, and financial impacts using high-quality evidence and organizational data. |
| Gap Evaluation | Identifies the gap between current and desired outcomes. | Evaluates the “Current State” versus the “Evidence-Based Best Practice,” highlighting the economic risks of the status quo. |
| Ethical Integration | Mentions ethical considerations related to the issue. | Masterfully demonstrates how Applying Ethical Principles (Stewardship and Justice) must guide the response to the economic impact. |
Step-by-Step Guide
- Choose an Economic Framework: Use the Cost-Benefit Analysis (CBA) or Cost-Effectiveness Analysis (CEA) to organize how you talk about the effect.
- Explain the clinical effect: How does this problem affect the care quality? For example, “Longer wait times in the ED cause 5% more patients to leave without being seen.”
- Use the word “autonomy”: When the economy is bad, the leader has a duty to speak up for the autonomy and safety of the patients. This is what applying ethical principles means.
- Look at the effect of regulations: Talk about how the problem makes it harder for organizations like The Joint Commission or CMS (Centers for Medicare & Medicaid Services) to obey the rules.
Frequently Asked Questions
Q: What is the “Current State” vs. “Desired State”?
The Current State is your hospital’s current data (e.g., 12% infection rate). The desired state is the national benchmark or evidence-based goal (e.g., <2% infection rate).
Q: How do I find “Cost per Occurrence” data?
Use resources like the AHRQ Healthcare Cost and Utilization Project (HCUP) or peer-reviewed journals like Nursing Economic$.
Q: Why is “Applying Ethical Principles” a required keyword?
It prevents the paper from becoming a cold financial report. It reminds the reader that behind every “economic impact” is a patient whose care is at stake.
Integrity Note
Note: Only use this assessment example for learning and structure purpose. Do not submit as your own work.
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