NHS FPX 6008 Assessment 3 Business Case for Change  university NHS-FPX 6008 Economics and Decision Making in Health Care 

Business Case for Change Hello, everyone, and welcome to today’s presentation on change implementation within NewYork-Presbyterian Hospital for a substantial healthcare economic issue – nursing shortages in critical care areas. My name is _______, and in today’s presentation, I will explore the healthcare economic issue from a financial perspective, highlighting actions to address the challenges.  Summarizing the Issue and Its Impact  Nursing shortages in the United States are a significant healthcare economic issue, particularly influencing hospitals in urban areas like New York. A report recognizes the need for an additional 275,000 registered nurses within the US, 40,000 specifically for the New York state to fill vacant nursing positions by the year 2030 (Haddad et al., 2023; New York State Department of Health, 2023). Contributing factors include an aging workforce, nurses’ brain drain, poor workplace environment, excessive workload, nurses’ burnout, and limited capacity in nursing education programs. Within NewYork-Presbyterian Hospital, these shortages impact patient care due to personnel constraints, ultimately leading to medical errors, poor patient outcomes, and ineffective organizational workflows.  Nursing shortages have turned our work into a daily battle. Overwhelmed by high patient-to-nurse ratios, my colleagues and I are stretched thin, leading to exhaustion and burnout. We struggle to provide the compassionate care our patients deserve, often missing breaks and working late hours. The constant pressure diminishes our morale and mental health, causing many to leave the profession. This vicious cycle leaves us even more short-staffed, affecting patient safety and care quality. Organizationally, this issue is increasing our reliance on costly temporary staff and overtime pay, driving up operational costs and straining the hospital’s budget (Beauvais et al., 2023). NHS FPX 6008 Assessment 3 Business Case for Change For the community we serve, especially vulnerable and underserved populations, nursing shortages are resulting in longer wait times, limited healthcare facilities, compromised care quality, and adverse health outcomes, exacerbating healthcare disparities (Peng et al., 2023). Thus, this initiative is not just a professional obligation and will not only improve working conditions for me and my colleagues, but it is also a moral responsibility as healthcare providers to ensure that all patients receive the high-quality care they deserve. Furthermore, addressing this crisis is crucial to restoring our well-being, improving patient outcomes, and providing a sustainable, supportive healthcare environment for all. Feasibility and Cost-Benefit Considerations Addressing nursing shortages is connected with several feasibility and cost-effective outcomes for our organization.  Feasibility Considerations  Addressing nursing shortages is highly feasible through targeted investments such as improving working conditions and retention programs. According to Sharma and Rani (2020), an adequate nurse-to-patient ratio in critical care areas is linked with higher patient satisfaction due to the provision of proper nursing care. Moreover, a supportive environment and a limited number of patients reduce nurses’ workload, significantly minimizing turnover rates and fostering a sustainable workforce. The organization can utilize technology, like advanced scheduling software, to optimize nursing workflows and reduce administrative burdens.  Simultaneously, nurse retention strategies such as career development and recognition programs can enhance nurse satisfaction and reduce turnover (Pressley & Garside, 2023). Providing opportunities for professional growth can empower nurses, improving their skills and career progression. The organization can provide continuing education credits and national and international training opportunities for nurses. Moreover, implementing recognition programs, such as monthly recognition events and daily appreciation, can foster a positive work environment. These strategies improve job satisfaction and create a sense of loyalty and commitment to the profession, ultimately reducing turnover rates. These solutions are practical and feasible to be integrated into existing healthcare infrastructures with a clear plan and commitment from stakeholders. Cost-Benefit Considerations  The cost-benefit analysis strongly supports addressing nursing shortages. A study by Lasater et al. (2021) showed that hospitals in New York State that implement a 1:4 nurse-to-patient ratio can significantly save up to $720 million by preventing hospital readmissions and reducing length of stay. Thus, by lowering the nurse-to-patient ratio through effective workload management and a supportive environment, we will observe substantial enhancements in New York-Presbyterian Hospital’s