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Patient and System Cost Business Principles Essay

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Updated: Jun 10th, 2022

To maintain safe, quality, patient-centered care that is financially sound, the nursing professional will need to direct one’s actions with a number of business principles (Barker, 2015). These business principles include cost-effectiveness, measurement of important variables, and building the culture around the service provided to patients. The following discussion will address the identified principles one by one along with the rationale for their usage and justification of their importance.

Cost-effectiveness is the first business principle that well applies in the area of patient service provision (Melnyk, Gallagher‐Ford, Long, & Fineout‐Overholt, 2014). The rationale for the application of this principle to the healthcare setting is related to the fact that nurses face the similar problem of scarcity of resources while providing patient care as the business professionals (Mason, Gardner, Hopkins Outlaw, & O’Grady, 2015). In the situation, where one needs to operate the limited resources to provide the ultimate outcome possible, cost-effective business strategies apply best. The core element of cost-effectiveness is the omission of unnecessary disbursements (Melnyk et al., 2014). This business principle is frequently used in my clinical settings with huge success. For instance, our specialists are doing their best to ensure cost-effective use of the needed materials for patient care provision. The significance of this business principle is not only high for the optimal healthcare quality but to me as well since I understand the economic struggles the society is facing and want to make my own contribution to the situation improvement.

Measurement of important variables is the next business principle that promotes the quality of the patient service provision (Melnyk et al., 2014). This principle is chosen because to track one’s success, the nurse leader needs measurable variables. This principle is also widely used at my current faculty by regular assessment of the key performance variables such as client satisfaction, client readmission, and team satisfaction. The importance of this principle for healthcare and to me has a similar nature, which is in the significance of measuring the performance for coordinating the right course of the unit functioning (Melnyk et al., 2014).

Building the culture around the service provided to patients is another effective business principle that facilitates patient care provision (Melnyk et al., 2014). This principle appears on this list because it is also vital to inspire the nursing professionals’ work. The team members who work in the conditions of the well-elaborated culture of service provide better patient care (Melnyk et al., 2014). This principle has wide implementation on the unit by means of regular team building and professionalism building activities such as training and seminars. This principle is crucial for the team members’ motivation. This factor alone explains why it is essential for the healthcare and important in my work.

In conclusion, cost-effectiveness, measurement of important variables, and building the culture around the service provided to patients are three important business-based principles that apply in the patient care with an objective to provide the safe, quality, and patient-oriented service. The three principles are essential for the achievement of the optimal outcomes on the nursing unit. They address all the procedures and participants of the healthcare delivery process by providing guidance on how to optimize the results of work and facilitate effective cooperation between the team members in the nursing body of workers.

References

Barker, A. M. (2015). Advanced practice nursing. Burlington, MA: Jones & Bartlett Publishers.

Mason, D. J., Gardner, D. B., Hopkins Outlaw, F., & O’Grady, E. T. (2015). Policy & politics in nursing and health care (7th ed.). St. Louis, Mo.: Elsevier Saunders.

Melnyk, B. M., Gallagher‐Ford, L., Long, L. E., & Fineout‐Overholt, E. (2014). The establishment of evidence‐based practice competencies for practicing registered nurses and advanced practice nurses in real‐world clinical settings: Proficiencies to improve healthcare quality, reliability, patient outcomes, and costs. Worldviews on Evidence‐Based Nursing, 11(1), 5-15.

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IvyPanda. 2022. "Patient and System Cost Business Principles." June 10, 2022. https://ivypanda.com/essays/patient-and-system-cost-business-principles/.

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