NUR-621 Economic Theories and Models in Health Care
Grand Canyon University NUR-621 Economic Theories and Models in Health Care-Step-By-Step Guide
This guide will demonstrate how to complete the Grand Canyon University NUR-621 Economic Theories and Models in Health Care assignment based on general principles of academic writing. Here, we will show you the A, B, Cs of completing an academic paper, irrespective of the instructions. After guiding you through what to do, the guide will leave one or two sample essays at the end to highlight the various sections discussed below.
How to Research and Prepare for NUR-621 Economic Theories and Models in Health Care
Whether one passes or fails an academic assignment such as the Grand Canyon University NUR-621 Economic Theories and Models in Health Care depends on the preparation done beforehand. The first thing to do once you receive an assignment is to quickly skim through the requirements. Once that is done, start going through the instructions one by one to clearly understand what the instructor wants. The most important thing here is to understand the required format—whether it is APA, MLA, Chicago, etc.
After understanding the requirements of the paper, the next phase is to gather relevant materials. The first place to start the research process is the weekly resources. Go through the resources provided in the instructions to determine which ones fit the assignment. After reviewing the provided resources, use the university library to search for additional resources. After gathering sufficient and necessary resources, you are now ready to start drafting your paper.
How to Write the Introduction for NUR-621 Economic Theories and Models in Health Care
The introduction for the Grand Canyon University NUR-621 Economic Theories and Models in Health Care is where you tell the instructor what your paper will encompass. In three to four statements, highlight the important points that will form the basis of your paper. Here, you can include statistics to show the importance of the topic you will be discussing. At the end of the introduction, write a clear purpose statement outlining what exactly will be contained in the paper. This statement will start with “The purpose of this paper…” and then proceed to outline the various sections of the instructions.
How to Write the Body for NUR-621 Economic Theories and Models in Health Care
After the introduction, move into the main part of the NUR-621 Economic Theories and Models in Health Care assignment, which is the body. Given that the paper you will be writing is not experimental, the way you organize the headings and subheadings of your paper is critically important. In some cases, you might have to use more subheadings to properly organize the assignment. The organization will depend on the rubric provided. Carefully examine the rubric, as it will contain all the detailed requirements of the assignment. Sometimes, the rubric will have information that the normal instructions lack.
Another important factor to consider at this point is how to do citations. In-text citations are fundamental as they support the arguments and points you make in the paper. At this point, the resources gathered at the beginning will come in handy. Integrating the ideas of the authors with your own will ensure that you produce a comprehensive paper. Also, follow the given citation format. In most cases, APA 7 is the preferred format for nursing assignments.
How to Write the Conclusion for NUR-621 Economic Theories and Models in Health Care
After completing the main sections, write the conclusion of your paper. The conclusion is a summary of the main points you made in your paper. However, you need to rewrite the points and not simply copy and paste them. By restating the points from each subheading, you will provide a nuanced overview of the assignment to the reader.
How to Format the References List for NUR-621 Economic Theories and Models in Health Care
The very last part of your paper involves listing the sources used in your paper. These sources should be listed in alphabetical order and double-spaced. Additionally, use a hanging indent for each source that appears in this list. Lastly, only the sources cited within the body of the paper should appear here.
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Student’s Name
Department Affiliation, University Affiliation
Course Number: Course Name
Instructor’s Name
Assignment Due Date
Theories/Models |
Description/Definition | Example Related to Health Care | Components |
| 1. Efficiency | Efficiency signifies that the economic state of each allocation of financial resources is enough to serve an entity or an individual effectively while reducing wastes and inefficiencies as much as possible (Migowski et al., 2019). Essentially, efficiency is the optimal use of resources to increase output. | In a health care system, efficiency implies that there is no alternative use or mixing inputs that could result in the same level of goods and services at a reduced cost. It is the measure used to compare the output in the delivery system to the input such as health care cost, materials, or treatment time (Migowski et al., 2019). For instance, for a better output in health care, a system needs to examine the effect of cost and time of treatment of health care outcomes. In most cases, resources are scarce, and there is increased competition for these limited resources. Therefore, people aim at achieving the optimal use of the sources. | Health care efficiency shows the best strategies of using health care resources to obtain the quality of health care delivery (Penner, 2017).
The health improvementis in two different components. The first is allocative efficiency, where interventions are selected to improve health outcomes, and the second is technical efficiency used in determining the leastinputs. |
| 2. Supply and Demand | This is an economic model that defines the relationship between the buyers and sellers. It is used in determining the link between the quantity of a commodity that would sell in a particular market. | In health care supplies, healthcare services such as medicine, technology, or even hospitals are available. Increased supply of these components lowers the cost of health care in a particular area. The demand defines the quantity of health care services required in a location (Parmar& Banerjee, 2019). Increased demand would increase the cost of healthcare, while reduced demand would reduce the cost of treatment. | The demand and supply in health care are not direct because of other factors that affect health care as welfare. However, supply and demand effectively analyze market structure in terms of perfectcompetition and competition (Parmar& Banerjee, 2019). For instance, many firms are in the market in a perfect competition market, implying that the economic power is distributed. |
| 3. Economies of Scale
|
Economies of scale is a measure used in explaining outcome vs. the production efficiency. Economies of scale state that the unit cost decreases with the volume of output. The connection between these two variables is described in various mechanisms such as market position for suppliers and volume on fixed costs and resources. | Economies areessential in health care as it measures the means that volume per procedure is related to improved outcome. For instance, buying health equipment when the actual demand is low than the required utilization would not be a better economic decision (Pettigrew et al., 2019). Moreover, health care organizations can save much through bulk buying of hospital equipment. | Economies of scale have two main types. The internal and external economies of scale are essential in understanding the theory (Pettigrew et al., 2019). Internal economies are those that the management can control because they are internal to the company. External economies are the external factorsfacingeconomies such as location, government, or industry. |
| 4. Market Failure | This is the economic situation explained by an unregulated market’s inadequate supply and distribution of goods and services (Parmar & Banerjee,2019). The market outcome might be ineffective in the presence of externalities. | Market failures emanate from negative and positive externalities, abuse of monopolistic power, inadequate public goods, and environmental reasons. For instance, if a person received COVID-19 vaccine, they are less likely to catch it. This further implies that they are less likely to be the career of the virus, indicating that vaccination is a positiveexternality. | The market responds to market failures through development structures that fill gaps that result in such failures. These structures include health insurance and independent physicians. |
References
Migowski, S. A., Gavronski, I., Libânio, C. D. S., Migowski, E. R., & Duarte, F. D. (2019). Efficiency losses in healthcare organizations
caused by lack of interpersonal relationships. Revista de AdministraçãoContemporânea, 23, 207-227. https://doi.org/10.1590/1982-7849rac2019170396
Parmar, D., & Banerjee, A. (2019). How do supply-and demand-side interventions influence equity in healthcare utilisation? Evidence from maternal healthcare in Senegal. Social Science & Medicine, 241, 112582. https://doi.org/10.1016/j.socscimed.2019.112582
Penner, S. J. (2017). Economics and financial management for nurses and nurse leaders. Springer Publishing Company.
Pettigrew, L. M., Kumpunen, S., Rosen, R., Posaner, R., & Mays, N. (2019). Lessons for ‘large-scale’general practice provider organisations in England from other inter-organisational healthcare collaborations. Health Policy, 123(1), 51-61. https://doi.org/10.1016/j.healthpol.2018.10.017