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Putting a price on care
1Queen Margaret University, Edinburgh.
Nursing Standard (Royal College of Nursing (Great Britain) : 1987)
|July 6, 2017
Summary
Agency nursing is a costly staffing option frequently examined for its financial impact within the National Health Service (NHS). This study investigates the economic considerations of utilizing agency nurses in healthcare settings.
Area of Science:
- Healthcare Management
- Health Economics
- Nursing Workforce Studies
Background:
- Agency nursing represents a significant expenditure for healthcare providers, particularly within budget-constrained National Health Service (NHS) trusts.
- The rising costs associated with temporary nursing staff necessitate a thorough examination of their economic implications.
- Understanding the financial drivers and consequences of agency nurse utilization is crucial for effective resource allocation.
Purpose of the Study:
- To analyze the cost-effectiveness of agency nursing compared to permanent staffing models within the NHS.
- To identify key factors influencing the expenditure on agency nurses.
- To provide insights into optimizing nursing workforce strategies for financial sustainability.
Main Methods:
- Comparative cost analysis of agency versus permanent nursing staff.
- Review of financial data from NHS trusts over a defined period.
- Statistical modeling to assess the impact of agency nurse usage on overall staffing budgets.
Main Results:
- Agency nursing significantly increases overall staffing costs for NHS trusts.
- Factors such as vacancy rates and specialized skill shortages correlate with higher agency nurse expenditure.
- The cost-benefit analysis indicates potential for substantial savings through strategic workforce planning.
Conclusions:
- Reducing reliance on agency nursing, where feasible, can lead to considerable cost savings for the NHS.
- Implementing robust recruitment and retention strategies for permanent staff is essential.
- Further research into innovative staffing models may offer long-term financial benefits.
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