DNP-815A Topic 6 DQ 2 How can economic theory be applied to your proposed DNP Project?
DNP-815A Topic 6 DQ 2 How can economic theory be applied to your proposed DNP Project?
Economic theory must be utilized by the DNP-prepared nurse. How can economic theory be applied to your proposed DNP Project?
Economic theory as explained by Franz (2020), gives a guide to healthcare demands because healthcare consumption could be viewed by individuals as either an investment for further health or to cope with illness and recover from acute illness. Health comes along with price, a proxy (insurance), income, and consumer preferences which all play a role.
Economic theory helps to select preferences, trade risk, willingness for better health choices, consumption, likes, and dislikes. People tend to respond differently to medical circumstances differently regardless of personal resources making health care income and prices hard to measure.
However, sociodemographic characteristics such as age, ethnicity, sex, and education are strongly correlated with health care use. Economic Patient knowledge of insurance claims and rights is important.
Ransborg et al (2018) opine that the US population is rapidly r changing with the elderly doubling at an alarming rate they project by 2050 Americans aged >65 years will increase by 2.8%. Ab0ut 50% of surgeries are performed on patients >65 years this increase for surgical services is estimated to be 42.7%. Economic
theory application to my DNP surgical total knee or hip surgery project will be in line with the evidence-based- research available. DNP-815A Topic 6 DQ 2 How can economic theory be applied to your proposed DNP Project?
For example, Franz (2020) opines that orthopedic surgery is one of the medical specialties with the highest rate of compensation claims following medical treatment. Aae et al (2020) study report high compensation claims following hip and knee arthroplasty. DNP-815A Topic 6 DQ 2 How can economic theory be applied to your proposed DNP Project?
The study also reports malpractice litigation following arthroscopic surgery. They evaluated claims filled to the Scandinavian registries following orthopedic surgery hip and knee surgery in 2010-2015 Due to the potential risk of perioperative morbidity and surgical complications for patients undergoing total knee and hip surgeries here are significant for surgical services related expenses from inpatient to rehabilitation and medications up t0o outpatient services depending on the needs for individual patients.
There are expenses of co-payments and deductibles. Total knee or hip surgery presents distinct risks for patients both on a national and clinical as well as economic outcomes considering postoperative. Most patients especially the elderly tend to be compromised therefore meticulous preoperative medical optimization should be a collaborative shared responsibility between surgeon, primary care, and family. Further analysis should include clarification o of indications for surgery as well as outcome measures in the long term and quality of life (Aae 2020).
Aae, T. F., Lian, Ø. B., Årøen, A., Engebretsen, L., & Randsborg, P.-H. (2020). Compensation claims after knee cartilage surgery are rare. A registry-based study from Scandinavia from 2010 to 2015. BMC Musculoskeletal Disorders, 21(1), 1–8. https://doi-org.lopes.idm.oclc.org/10.1186/s12891-020-03311-4 DNP-815A Topic 6 DQ 2 How can economic theory be applied to your proposed DNP Project?
Randsborg, P.-H., Bukholm, I. R. K., & Jakobsen, R. B. (2018). Compensation after treatment for anterior cruciate ligament injuries: a review of compensation claims in Norway from 2005 to 2015. Knee Surgery, Sports Traumatology, Arthroscopy, 26(2), 628–633. https://doi-org.lopes.idm.oclc.org/10.1007/s00167-017-4809-y
Roger Frantz, The Beginnings of Behavioral Economics, 2020 DNP-815A Topic 6 DQ 2 How can economic theory be applied to your proposed DNP Project?
https://www.sciencedirect.com/topics/economics-econometrics-and-finance/economic-theoryretrieved August 12th, 2022.
Great post on the economic theory of health care. As medical professionals we understand the need for health care spending reduction. You have mentioned co payments and deductibles and I agree as meeting my high deductible is often a budget challenge.
However, this conversation is not a personal rant but an addition to the thoughts you have presented. As you discussed knee and hip surgery are economic considerations noted in the health care economic theories. Some of the cost associated with these surgeries include readmissions to hospitals according to data from the Centers for Medicare and Medicaid Services and Medicare. This data also shows that readmission costs around 9000 dollars and “Medical reasons accounted for the majority of readmissions (n = 257, 79.1%). However, patients readmitted for revision surgery (n = 68, 20.9%) had the highest mean readmission cost ($15,356, P < .001). ”
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Reform and healthcare delivery continues to be at the forefront of policy debate, given the slow-growing percentage of the gross domestic product GDP) and budget deficit in health care. Economic theory has been a major topic in healthcare conversation; different economic philosophies and theories and the passage of the Affordable Care Act (ACA) increased the involvement in health care (Hartman, 2010). DNP-815A Topic 6 DQ 2 How can economic theory be applied to your proposed DNP Project?
The surprising increase in healthcare costs in recent decades and the effort to control increased the relevance of the economic analysis of clinical interventions. The use of cost-effectiveness to guide reimbursement decisions wherein keeping individuals healthy is key to profitability. DNP-815A Topic 6 DQ 2 How can economic theory be applied to your proposed DNP Project?
The development of strategies for disease prevention, self-care, or adherence to beneficial clinical treatments can also have payoffs. Health outcomes are measured, such as the number of avoided infections or the cost per life saved.
My DNP project is about Central line-associated bloodstream infection (CLABSI). This remains an important component of any efforts of quality improvement given its impact on patients and healthcare organizations, and it is associated with an increased length of stay in the hospital and a cost of $16 000 – $69 000 on each event. The metrics for reimbursement negotiations and hospital ranking, and CLABSI (Ormsby et al., 2020). Bloodstream infections have a significant impact on patient outcomes, including mortality, length of stay, and healthcare costs.
References
Hartman, S. (2010). Economic theories. Philosophies and Theories for Advanced Nursing Practice, 327.
Ormsby, J. A., Cronin, J., Carpenter, J., Graham. D., Potter-Bynoe, G., Chandonnet, C. J., Vaughan, A. M., Weir, L., Flaherty, K. A., Chandonnet, C. J., Priebe, G. P., & Sandora, T. J. (2020). Central venous catheter bundle adherence: Kamishibai card (K-card) rounding for central-line-associated bloodstream infection (CLABSI) prevention. Infection Control & Hospital Epidemiology, 42, 1058- 1063.