Overview
In this assignment, you apply economic principles and tools (cost, demand, and market demand curves) to the economic issue that you chose in the Week 2 activity. You are also asked to complete a brief description of health care financing payment models.
Instructions
Consider the health care issue that you identified in the Week 2 activity and address each of the following in a 3–4 page Word document:
- Explain how economic principles can be applied to this issue to effectively guide decision making.
- Demonstrate how supply and demand curves are used to accurately assess the issue.
- Analyze how the cost curve can be used to assess the issue. Provide an example.
- Compare capitation, fee for service, and pay-for-performance financing payment models to accurately reveal their similarities and differences.
Use at least three sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment. For help with research, writing, and citation, access the library or review library guides.
This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS assistance, including citations and formatting. Please refer to the Library site for all support. Check with your professor for any additional instructions.
The specific course learning outcome associated with this assignment is:
- Analyze health care issues using economic decision-making principles.
- Evaluate health care cost and efficiency issues using economic tools.
Week 4 Assignment – Applying Economic Principles and Tools to a Health Care IssueWeek 4 Assignment – Applying Economic Principles and Tools to a Health Care IssueCriteriaRatingsPtsExplain how economic principles can be applied to an issue to effectively guide decision making.22 to >19.8 ptsExemplaryExplained how economic principles can be applied to an issue to effectively guide decision making.19.8 to >17.6 ptsCompetentExplained relevant economic principles in detail that would likely not effectively guide decision making.17.6 to >15.4 ptsNeeds ImprovementIdentified economic principles but failed to apply them to the issue.15.4 to >0 ptsUnacceptableDid not identify how economic principles can be applied to an issue./ 22 ptsDemonstrate how supply and demand curves are used to accurately assess an issue.27.5 to >24.75 ptsExemplaryDemonstrated how supply and demand curves are used to accurately assess an issue.24.75 to >22 ptsCompetentDemonstrated how supply and demand curves are used to assess an issue, but lacks detail to fully demonstrate the process.22 to >19.25 ptsNeeds ImprovementApplied supply and demand curves to create a faulty assessment of an issue.19.25 to >0 ptsUnacceptableDid not apply supply and demand curves to assess an issue./ 27.5 ptsAnalyze how the cost curve can be used to accurately assess the issue and provide an example.27.5 to >24.75 ptsExemplaryAnalyzed how the cost curve can be used to accurately assess the issue and provided an example.24.75 to >22 ptsCompetentAnalyzed how the cost curve can be used to accurately assess the issue but provided no example.22 to >19.25 ptsNeeds ImprovementProvided a faulty analysis of how the cost curve can be used to accurately assess the issue.19.25 to >0 ptsUnacceptableDid not provide an analysis of the issue by applying the cost curve./ 27.5 ptsCompare capitation, fee for service and pay for performance financing payment models to accurately reveal their similarities and differences.22 to >19.8 ptsExemplaryCompared capitation, fee for service and pay for performance financing payment models to accurately reveal their similarities and differences.19.8 to >17.6 ptsCompetentCompared capitation, fee for service and pay for performance financing payment models to reveal their similarities and differences, but lacked detail to fully distinguish them.17.6 to >15.4 ptsNeeds ImprovementCompared capitation, fee for service and pay for performance financing payment models in a way that did not accurately reveal their similarities and differences.15.4 to >0 ptsUnacceptableDid not compare payment methods./ 22 ptsProduce writing that contains accurate grammar, mechanics, and spelling in accordance with SWS style.5.5 to >4.95 ptsExemplaryProduced writing that is clear and well organized and applies appropriate SWS style. Writing contains accurate grammar, mechanics, and spelling with 0–2 errors.4.95 to >4.4 ptsCompetentProduced writing that attempts to be clear and well organized and to apply appropriate SWS style. Writing contains some errors in grammar, mechanics, and spelling. There may be occasional errors (1–2), but they do not impact the ability of the reader to understand the writing.4.4 to >3.85 ptsNeeds ImprovementProduced writing that has noticeable issues with clarity, organization, and the application of SWS style. Writing contains some errors in grammar, mechanics, and spelling. There are multiple errors (3–4) that distract from the reader's ability to understand the writing.3.85 to >0 ptsUnacceptableProduced writing that lacks clarity, organization, or does not apply SWS style. There are significant issues with grammar, mechanics, and spelling. Overall, errors are significant in number (5 or more), and the reader will have difficulty understanding the writing./ 5.5 ptsUse at least three sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment.5.5 to >4.95 ptsExemplaryUsed at least three sources to support your writing. Chose sources that are credible, relevant, and appropriate. Cited each source listed on your source page at least one time within your assignment.4.95 to >4.4 ptsCompetentCited required number of sources but not all sources were credible, relevant, or appropriate; or sources were not cited within the assignment.4.4 to >3.85 ptsNeeds ImprovementDid not cite the required number of sources or cited required number of sources but sources were not credible, relevant, or appropriate.3.85 to >0 ptsUnacceptableDid not cite any sources./ 5.5 pts
I am sending the assignment to piggy back off.
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Professors name
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Departments with the Largest Nursing Shortages
Based on the Vila Health simulation, the departments experiencing the most critical nursing shortages are the Emergency Department (ED) and the Intensive Care Unit (ICU). Both areas face high patient acuity levels and unpredictable patient inflow, leading to chronic understaffing. The ED faces challenges with patient turnover in a hurry and the requirement to always have high-level, immediate intervention, whereas the ICU faces complex case scenarios that necessitate specialized, ongoing monitoring (Maddigan,1, p.3). The issues contribute to nurse turnover as well as burnout, with stability in staffing being hard to achieve. Economic decision instruments such as cost-benefit analysis, as well as workload forecasting, demonstrate that the departments with inadequate staffing will not only impact patient outcomes but will also increase costs with overtime, decrease efficiency, and lengthen the patient stay.
Obstacles to Recruiting Nurses for the Identified Departments
Recruitment challenges in the ED and ICU are primarily linked to workplace stress, demanding schedules, and limited incentives. Nurses working in such units usually experience the stress of high mortality rates, lengthy working hours, and repeated exposure to trauma and catastrophic illness (Mathew, 2, p.5). The working conditions discourage some individuals from entering or staying in acute care specialties. Competition between hospitals to attract seasoned critical care nurses escalates the cost of labor, making recruitment costly. Rural or medium-sized hospitals, such as Vila Health, usually cannot pay competitive salaries and signing allowances to potential employees in comparison to major city facilities. Training needs are also a limitation since such units require specialized certification and experience, making the circle of potential applicants smaller. Lastly, limited mentorship opportunities along with career development lead to the retention of limited numbers of professionals. Reducing such limitations entails the provision of economic incentives, developing friendly working conditions, as well as investing in professional development activities in order to attract skillful professionals to such high-demand departments, with the retention of professionals who are already working.
References
1. Maddigan, J. (2025, February 14). The Experiences of Emergency Department Nurses After Unexpected Patient Death in a Community-Based Hospital: A Focused Ethnography. Yorku.ca. https://yorkspace.library.yorku.ca/items/8c78008a-c8e0-429a-9e37-7bfa230d101f
2. Mathew, M., John, A., & Ramachandran, R. V. (2025). Nurse stress and patient safety in the ICU: physician-led observational mixed-methods study. BMJ Open Quality, 14(2), e003109–e003109. https://doi.org/10.1136/bmjoq-2024-003109