Week 3 Discussion Question: Cost of Nursing Care
Fiscally responsible nurse managers realize that there is more to costing nursing services than knowing the hourly wages and benefits of employees. Direct and indirect costs, overhead costs, and capital expenditures are just a few of the key elements in determining what it costs to provide adequate patient care.
Respond to the following:
• Describe the various approaches in assessing the cost of nursing care.
• Examine the role of recruiting and retaining nurses in the cost of nursing care.
• Explain the impact of nursing turnover on nursing care costs.
• Examine whether the cost assessment methods used in your organization are effective. Give reasons for your answer.