Mahnaz Mushtaq, Mahpara Mushtaq
The economic power of care signifies the efficient use of economy in healthcare systems, aiding in the creation of healthier individuals and societies and driving robust economies. This could be achieved by adhering to various healthy financial management practices. It’s essential to remember that financial management doesn’t always imply stinginess, although it’s well-known that being stingy is not a good financial management practice.
As we celebrate this year’s International Nurses Day, recognizing nurses as the heart and soul of healthcare, let’s examine the solvable issues they face in our healthcare departments, impacting the economic power of our healthcare system. Undoubtedly, there are many, but we will focus on two significant aspects.

International Nurses Day

First things first, an inevitable and well-known fact is the inappropriate nurse-patient ratio, which cannot be overlooked. Behind this shortfall lies a significant strength that, when corrected, can be explored through contemplation.
What is the nurse-patient ratio? Why is it significant? How does it affect patient care? And how does investing in improving the nurse-patient ratio in hospital settings result in gains rather than losses in finance? The answers to these questions are not difficult to discern.
The nurse-to-patient ratio refers to the number of patients assigned to a nurse in a healthcare setting. It is a critical factor that significantly impacts both the quality of patient care and nurse well-being. Adequate staffing ensures that nurses can provide timely and effective care to patients. Lower ratios generally imply more personalized care and increased availability of nurses for each patient.
When nurses have a manageable workload, they can focus on individual patient needs, monitor health conditions, and prevent complications. High nurse-to-patient ratios can lead to burnout, fatigue, and stress.
Adequate staffing, therefore, contributes to nurse job satisfaction and retention. Empirical studies have shown that each additional patient assigned per nurse in a hospital is associated with increased mortality rates, longer length-of-stay, and higher rates of nurse burnout.
Failing to consider these effects disregards potential cost savings resulting from providing higher quality care and reducing nurse turnover. Investing in improving the nurse-to-patient ratio in hospital settings can indeed yield financial gains rather than losses. Here’s how:
Reduced medical errors: Increased nurse availability per patient reduces the likelihood of medical errors, resulting in significant cost savings associated with legal issues, additional treatments, and prolonged hospital stays.
Improved patient outcomes: Better staffing ratios are associated with lower mortality rates and improved overall patient health outcomes. Healthier patients tend to have shorter hospital stays, which can reduce hospital costs.
Decreased readmissions: Adequate nurse staffing leads to better discharge planning and patient education, resulting in lower readmission rates. Fewer readmissions can save hospitals from penalties and additional treatment costs.
Enhanced patient satisfaction: Higher nurse-to-patient ratios often lead to better patient experiences and satisfaction, which can be reflected in higher Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS) scores. These scores can influence hospital funding and reimbursements.
Reduced nurse turnover: Investing in appropriate staffing levels can lead to higher job satisfaction among nurses, reducing turnover rates. The cost of recruiting, hiring, and training new staff is substantial, so retaining experienced nurses can lead to long-term financial savings.
Boosted nurse retention: By reducing burnout and improving job satisfaction, hospitals can retain experienced nurses. This retention saves money on hiring and training and maintains a skilled workforce that delivers high-quality care.
Optimized hospital operations: Efficient nurse staffing can lead to smoother hospital operations, as nurses can manage their workload more effectively. This efficiency can lead to cost savings in various operational areas.
Another highly significant aspect is none other than conduction of in-setting continuous nursing education programs. In-setting continuous nursing education refers to educational programs and activities designed to enhance the knowledge, skills, and professional competence of nurses within their workplace.
As defined by the American Nurses Credentialing Center (ANCC), in-setting continuous nursing education builds upon the educational and experiential bases of registered nurses.Its purpose is to enhance practice, education, administration, research, or theory development, ultimately improving public health. In simpler terms, it ensures that nurses stay updated with current industry practices, learn about new technologies, treatment regimens, and update their clinical skills.
Continuous nursing education transcends initial training, offering ongoing professional development opportunities for nurses. It enables them to expand upon their existing knowledge and experience, fostering a culture of lifelong learning. Emphasizing relevance to daily practice, such education addresses real-world challenges and advancements in the field.
Moreover, many states require a specific number of contact hours for license renewal, recognizing the critical role of continuous education in upholding patient care standards. Well-educated nurses contribute significantly to improved patient outcomes. Therefore, continuous education is indispensable for maintaining professionalism and ensuring competence in nursing practice.
Thus, in-setting continuous nursing education ensures that nurses remain up-to-date, skilled, and committed to providing high-quality care within their healthcare environment. Therefore, investing in continuous nursing education within healthcare settings can significantly strengthen the finances of healthcare institutions and improve their image while maintaining dignity.
Continuous nursing education offers numerous benefits. Firstly, it enhances clinical competence by keeping nurses updated on evidence-based practices and technologies. Secondly, it reduces turnover and recruitment costs by retaining experienced nurses through ongoing education investments.
It also contributes to quality improvement and patient safety, leading to fewer incidents of hospital-acquired infections, falls, and medication errors, thereby lowering legal costs and enhancing reputation, ensuring compliance with regulatory requirements, ensuring continued funding and avoiding penalties.
It promotes efficient resource utilization, as educated nurses can identify cost-effective interventions and manage supplies more effectively, reducing wastage. Lastly, it improves nurse satisfaction and retention, as educated nurses tend to be more satisfied with their jobs, thereby reducing recruitment and training expenses.
In conclusion, while the initial investment in improving nurse-to-patient ratios and continuous nursing education may seem like an expense, the long-term financial benefits can very well outweigh the costs. It’s a strategic investment that can lead to a more efficient, effective, and financially stable healthcare system.
Nurses are the heartbeat and soul of healthcare. Their tireless dedication, compassion, and expertise keep our healthcare systems running smoothly and making all the difference in the lives of countless individuals.
Remember, behind every successful medical treatment, there’s a nurse providing essential care. So, let’s express our gratitude to these unsung heroes who keep our hearts beating strong. Together, we can create a movement for positive change in healthcare. Let us stand united, advocate and catalase for transformative improvements.
(The authors are Nursing Officers at GMC, Anantnag)

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