From the analysis above, it is evident that the major effect of derailing the economy in the nursing field was the shortage of nurses that is being experienced even in the existing times. It has been found out that retired and the non-active nurses have returned to the workforce as a result of the ailing economy. The flu season is relatively being experienced as well as the procedures done in hospitals falling, which is in addition to the censuses. Moreover, the requirement for nurses has also fallen.
It can be seen as a temporary situation but it can last for a considerable amount of time. Those nurses who have specialized in the important procedures continue to be required in the hospital facilities. According to the study, it has been realized that their requirement would continue to rise, but in view of the general nursing profession, this is not the case (Buerhaus et al). As a result of the economy, nurses have come up with new strategies to cushion their downfall as they lose their jobs at the hospitals and medical facilities.
Referring to those nurses especially in the labor market and those who are licensed began to sell a variety of the nursing services. Facilities requiring the nursing facilities have also not been left behind since they need the services as well and therefore have resulted to purchasing of the services. In addition to their pay, they have also included compensation as terms set by the nurses without which the facility cannot access these facilities.
Hence, it is important to note that whenever there aren’t enough nurses who meet the requirements set forward by the nurse employers, it means that there shall be a shortage of nurses. In economic terms, it is known as a labor supply shortage and it is also identified that the labor surpluses and shortages are only experienced in markets which are free. Its natural for them and in most cases expected. As demand and supply require in business whenever there is shortage of labor, then there is competition that is set for those who require it.
The shortage persistence directly points out to the increase in wages and compensation until such comes to a level whose competitive nature is in conformity to other occupations in other industries. This would lead to more people entering into the nursing profession and purchasing the nursing education, going to the registrar to be registered as well as being licensed and providing the nursing services that would be required. Also, it is important to note the other side of the coin of this scenario which would be the attraction of many people into the profession.
This attraction to the seemingly high wages including the compensation that comes along in the whole package means that the wages would drop from its rising nature since there is no more need to attract more additional nurses. The introduction of subsidies comes to interrupt the equilibrium that has been established in the market as a result of the market demand and supply. This third party that interrupts the equilibrium is usually the government. It does so in order to protect its business and corporations to ensure their survival.
Hence, its presence and lack is a necessary driver in the market. It is important to note that the government’s quest for quality health and medical care for its citizens means that it may also compete in the levels that are set in the business/medical market. The economic downturn means that such subsidies come in short and minimal amounts and hence many of the public health facilities would suffer a nurse shortage (Buerhaus et al). Another problem that arises with government intervention as experienced in the market is in form of subsidies.
First, the areas in which the government offers subsidies also include education that is offered to the nurses. Therefore, more licensed nurses who have learned as a result of this subsidized education means that there exist more nurses in the profession or field who are willing to offer their services for less compensation which in essence means that the total workforce that is provided in form of supply is reduced. The downturn in the economy has resulted to people from other countries obtaining citizenship in countries where they feel that their lives would be much fairer.
In the nursing grounds, the introduction of foreign expertise and scientists in the domestic circles to fill this vacant position means that wages and compensations would be lowered to considerable amounts; such that they would not be recommended even in a fair labor market. This has been a concern in the American nursing industry whose presence has diluted the nursing profession. According to the existing statistics, many of this kind of nurses are being recruited in order to fill these positions, a problem which the original citizens have detested.
However, this act is being seen as a result of the economic melt-down that is being experienced in the whole globe. It is interesting to note that this move may be encouraged by the government since it would be seen as a means of saving money that would otherwise be used in subsidizing the availability of these services. It is so because there is an overall lowered cost for the supply of nurses that the government would experience and hence this would mean that the compensation would also be lowered by any means (Buerhaus et al).
Due to this realization, nurses and other bits of the workforce for these services are compelled to leave their current work and engage in other professions that may attract more wages and compensation. This results to a shortage of nurses in the field and in essence, the overall process starts all over again. As the shortage of nurses is being experienced in the medical field, resources are inadequate, as well as the advanced nursing education that comes along with it.
This has a major influence on the state’s economic well-being as well as the resident’s state of health. Another cause that can be attributed to the shortage that is being experienced is the fact the government cannot now support all sectors at once. As mentioned earlier, the subsidies required in the nursing profession is not available and therefore self-financed nurses do not work for the public but instead are employed into the private facilities or self managed health facilities.
In addition, the credibility of the nursing profession is lowered since the absence of nurses in their profession means that services are also lowered. Additionally, the patient to nurse ratio is increased making most of them to become overworked. In essence, the service delivery would be sluggish and not perfect leading to heightened mortality rates.
Reference Buerhaus, P. , Donelan, K. , Norman, L. & Dittus, R. Journal of Professional Nursing. 21. 2. 75-83