The importance of fundamental economic concepts for nurse leaders: No margin, no mission

Abstract

Rising health care costs are currently a problem in virtually every industrialized country, and policy makers around the globe are trying to figure out ways to continue to maintain economically viable health care systems. A primary focus on quality and access in prior years has proven to be incomplete in terms of the long-term sustainability. The focus of interest has now turned to the concept of value which unavoidably brings the essential element of cost squarely into the forefront. In order to deal more effectively with inevitable cost constraints, nurse leaders will need a basic understanding of some of the fundamental economic concepts that will be driving many of the initiative for more financially sustainable health care systems.