NR 714 Discussion Economic Evidence in Advanced Nursing Practice
NR 714 Discussion Economic Evidence in Advanced Nursing Practice
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Write My Essay For MeDQ1 Leveling of Qualitative, Quantitative, and Economic
Evidence in Advanced Nursing Practice
Articulate the knowledge, skills, and integrative abilities
necessary for leveling qualitative, quantitative, and economic evidence that
serve to shape the advanced nursing practice environment.
DQ2 Grading of Qualitative, Quantitative, and Economic
Evidence in Advanced Nursing Practice
Articulate the knowledge, skills, and integrative abilities
necessary for grading qualitative, quantitative, and economic evidence that
serve to shape the advanced nursing practice environment.
Cost-effectiveness of healthcare practice is an increasingly important consideration in the delivery of care and consequently in nursing research. The growing proportion of older adults in the U.S. population, improvements in healthcare technology, direct-to-consumer advertising for pharmaceuticals, increasing costs of doing business in other sectors besides healthcare, and international competitive pressures on wages and benefits have drawn greater attention to the costs of healthcare over time. U.S. healthcare spending in 2018 grew 4.6%, which was more than double the rate of inflation and accounted for 17.7% of gross domestic product (Centers for Medicare & Medicaid Services, 2020; Hartman et al., 2019). Long-standing concerns over unsustainable increases in healthcare spending led to passage of the Affordable Care Act in 2010, which within the first 3 years of implementation (2013–2016) contributed to a decline in the number of uninsured Americans by 18.5 million (Skopec et al., 2018). While U.S. legislation prohibits use of cost thresholds in healthcare policy decisions, the proportion of the gross domestic product being spent on healthcare forces policy makers to at least consider the costs within the context of the effectiveness of new treatments, devices, or interventions (Neumann et al., 2014). Health policy makers increasingly request analyses, including projected economic outcomes, prior to the approval of funding for or reimbursement of these new activities.
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NR 714 Discussion Economic Evidence in Advanced Nursing Practice
At the same time that the focus on cost has increased, other factors have also raised the importance of studying and contemplating the cost-effectiveness of healthcare in the United States. These include (a) the issuance of scientific recommendations for the conduct of cost-effectiveness analyses in the United States, (b) a format for formulary submissions offered by the Academy of Managed Care Pharmacy, (c) recognition by parties in the United States of cost-effectiveness recommendations around the globe, (d) conferences related to cost-effectiveness sponsored by the National Institute of Nursing Research, and (e) the continued emphasis on use of comparative-effectiveness methodology by the Patient-Centered Outcomes Research Institute (PCORI) to improve the quality of evidence available to inform healthcare decision-making (PCORI, 2020). Making decisions about which healthcare interventions to implement necessarily occurs across settings. Resources are always limited; money spent in one place cannot be spent in another. Stakeholders at all levels continuously decide how to allocate their budgets and which intervention or treatment will give them the greatest outcome for their resources, or “bang for their buck.” At a societal level, policy makers must decide where to allocate resources because money spent on healthcare cannot be spent on education or transportation, for example. Similarly, at an organization level, nurse administrators are making decisions such as which infection prevention protocol or staffing ratio to implement to achieve the best patient outcomes within the constrained resources they have.
NR 714 Discussion Economic Evidence in Advanced Nursing Practice ESSAY
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