In terms of nursing, the economic concepts of supply and demand are associated with the services care providers may offer and the needs of patients with regard to their health. Equity, one of the basic principles of economics and ethics, proposes that scarce resources should be allocated fairly among all the people, which is the most beneficial way to ensure their health. In the US system of healthcare, both the government and markets distribute the resources across populations (Porter-O’Grady & Malloch, 2016).
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This financing and reimbursement mechanism is a combination of strategies that form the inequitable distribution of resources, when some people lack insurance, and others struggle with accessing the necessary services. One may suggest that the change in the current system would positively impact customer satisfaction and decrease liability.
The DNP-prepared nurses act as the providers of supply, which is a certain number of services that are available to patients. Porter-O’Grady and Malloch (2016) state that the analysis of the supply and demand is crucial for understanding the current needs and opportunities. For example, the category of supply includes consultations, facilities, diagnostics, locations, and other components. At the same time, nursing demand can be considered in terms of the number of registered nurses per state, when it becomes evident that some of them face a lack of nurses (Porter-O’Grady & Malloch, 2016).
The latter directly affects the way health organizations address health disparities and prevent the onset of more challenges. In particular, in case if there are a sufficient number of DNP-prepared nurses, it is more likely that the given geographic location would be marked by some progress in equity and patient outcomes in a long-term period.
Porter-O’Grady, T., & Malloch, K. (2016). Leadership in nursing practice: Changing the landscape of health care (2nd ed.). Burlington, MA: Jones & Bartlett Publishers.