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

Health care sector is undergoing a massive tidal change and this has a dual crest one related to market-driven forces and other related to the health care work force and both are interested and are steeeped in many ethical issues. Two ethical issues are Market driven forces and health care work force. Mismanaged care is one of the pivotal reasons for ethical issues. With the current trend, majority of the nurses are caught up in the whirlwind of market-driven forces. The ethical tenets that fit the relationship between scarce resources allocation and financial compensation are those which are derived from utilitarian ethical theory and from ethical principles of justice.

To achieve and maintain financial viability, the nurse manager must be able to think strategically financially and in terms of nursing care Cutting costs by deleting programs and bringing in additional revenue through new programs and services are not in themselves strategic unless the decisions made lead to quality care, have positive outcomes and effficient in terms of cost.