Related Experiment Videos
A cost-benefit analysis of shared governance
V DeBaca1, K Jones, J Tornabeni
1Mercy Health Care, San Diego, California.
The Journal of Nursing Administration
|July 1, 1993
Summary
Shared governance models are vital for nurse retention and quality of care. This study introduces a cost analysis framework, detailing the financial benefits of implementing shared governance in nursing over five years.
Area of Science:
- Healthcare Management
- Nursing Administration
- Organizational Psychology
Background:
- Shared governance is recognized as a key strategy for retaining professional nurses.
- Nurse executives advocate for shared governance to improve care quality.
- Financial implications of shared governance models remain under-examined.
Purpose of the Study:
- To establish a framework for cost analysis of shared governance implementation.
- To evaluate the cost-benefit relationship of shared governance models.
- To provide financial insights into shared governance over a 5-year period.
Main Methods:
- Development of a cost analysis framework specific to shared governance.
- Longitudinal evaluation of financial data over five years.
- Comparative analysis of costs versus benefits associated with the model.
Main Results:
- Identification of key financial factors in shared governance implementation.
- Quantification of the cost-benefit ratio for a 5-year period.
- Demonstration of the financial viability and advantages of shared governance.
Conclusions:
- Shared governance offers a positive financial return on investment for healthcare organizations.
- The cost analysis framework provides a tool for evaluating similar initiatives.
- Financial benefits support the strategic adoption of shared governance in nursing.