UnderstandingEssentials for Healthcare Financial Viability
Financialchallenges faced by masters-prepared nurse leaders and administrators
Thenursing profession faces a vast array of problems that range fromunderpayment to extreme working environments and conditions. Thesechallenges hinder the provision of quality care as well as limitingthe accessibility of these services to diverse populations. They alsobring about an element of deterioration in the wellness andprevention of diseases thus lowering health outcomes (Bleich, 2012).On the other hand, financial challenges in the nursing professionentail the perception applied by most people through payment forhealth care by the volume of services and quality care they receive.However, quality care comes at a price that should be affordable forboth individuals and society but due to financial challenges, therate of growth of health care expenditure becomes slow (Bleich,2012).
Mostimportantly, the impact of the current reimbursement factors andlegislation of the financial challenges faced by masters-preparednurse leaders entails the Patient Protection and Affordable Care Act(PPACA) (Kershaw, 2011). These may be followed closely the Doctor ofNursing Practice Movement and the IOM report bring about barriersthat need the attention of the national and state leaders with theaim of achieving the objectives of the healthcare. Besides, payerpolicies significant impact the ability of nurses to practice at fullcapacity (Kershaw, 2011). They are mostly linked to regulations andlicensure within a state that leads to strict payer policies thatlimit the ability of the nurses to practice independently.Consequently, these systems drive nurses towards practicing asemployees of physician practice, hospital as well as other entities.
Nevertheless,to overcome these challenges, nurse leaders need to apply variouscompetencies aimed at eradicating the financial problems (Kershaw,2011). Some of these competencies include the implementation of nurseresidency programs with the goal of supporting the completion of atransition to practice program. These should be followed closely byincreasing the proportion of nurses with a baccalaureate degreethrough partnering with education accrediting bodies and employers toensure funding, monitor progress as well as increase diversity ofstudents (Kershaw, 2011).
Theconnection and rationale for these competencies with current andfuture financial challenges include expanding funding for programsoffering accelerated graduate degrees for nurses with the aim ofincreasing the production of qualified nurses. These would alsoenhance the diversity of the nurse faculty and researchers. Aninter-professional team would ensure elimination of financialchallenges through fostering collaboration, leveraging nursingleadership and advancing education transformation. These factorswould guarantee the expansion of the opportunities for nurses to leadand diffuse collaborative improvement efforts (Bleich, 2012).
Bleich, M. R.(2012). Leadership Responses to the Future of Nursing. JONA:The Journal of Nursing Administration, 42(4),183-184. doi:10.1097/nna.0b013e31824ccc6b
Kershaw, B.(2011). The Future of Nursing – Leading Change, Advancing Healththe Future of Nursing – Leading Change, Advancing Health. NursingStandard, 26(7),31-31. doi:10.7748/ns2011.10.26.7.31.b1274