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Cost analysis: a tool for measuring the value of nurse practitioner practice
1University of Colorado School of Nursing, 4200 East Ninth Ave, Box C288, Denver, CO 80262, USA.
Nurse Practitioner Forum
|February 28, 2001
Summary
Nurse-managed centers require strong business and financial strategies alongside clinical care for survival and advanced practice nurse training. Analyzing operational costs revealed key differences impacting center profitability and sustainability.
Area of Science:
- Healthcare Management
- Nursing Economics
- Clinical Operations
Background:
- Nurse-managed centers are vital for advanced practice nurse (APN) training.
- Their sustainability hinges on integrating business acumen with clinical quality.
Purpose of the Study:
- To analyze operational costs in academic-based nurse-managed centers.
- To identify practices contributing to financial viability versus precarious survival.
Main Methods:
- Employed cost analysis methodologies.
- Examined operational expenditures of two distinct academic-based nursing centers.
Main Results:
- Identified specific practices linked to profitability in one center.
- Highlighted factors contributing to questionable survival in the second center.
- Operational costs varied significantly between the two centers.
Conclusions:
- Effective financial management and sound business practices are critical for nurse-managed center survival.
- Clinical excellence alone is insufficient for long-term sustainability.
- Further research into scalable business models for nursing centers is warranted.