Question

Many healthcare financial decisions have a direct effect on nursing practice and patient care delivery. What are the ethical implications of these financial decisions? Discuss and explain two specific ways to involve nursing staff in financial planning.

Answer 1

Some of the mechanisms for funding in health care include fee for service, cost sharing, free-of point at delivery. For each of these methods of financial access to health care there are ethical issues which compromise the four principles of ethical practices in health care ie beneficience, non-maleficience, autonomy and justice.

Cost benefit analysis and Codt effectiveness analysis are the two specific ways. Cost Benefit Analysis compares the cost and benefits of action. Determine if the benefits outweigh the costs. The latter determines if an approach that specific desired outcome for the least possible cost. Determine if the new approach costs less than that of the old approach.