Examine potential long-term solutions to address nursing staffing shortages and consider how local labor markets and other market factors influence staffing and budgeting. Need help/an example of completing a cost-benefit analysis to determine the best course of action to address the shortage in nurse staffing. Offer three solutions to recommend and the cost-benefit associated with each one. Also note the opportunity cost for each option.

Each Solution should include:

• Option Title.
• Proposal: Brief description of the option.
• Benefit: List the benefits associated with this option.
• Cost Associated: List the costs associated with this option.
• Opportunity Cost: List what might be given up if this option is selected.
• Detailed Explanation: Explain how the cost-benefit analysis for the option aligns with organizational needs and future growth.
  • Address the following for each option:
    • Non-monetary benefits, such as improved customer satisfaction, associated with the option.
    • Non-monetary costs associated with the option. For example, productivity may decrease initially as people adjust to new policies and procedures associated with the option. At the same time, productivity is likely to increase once people adjust to the new policies and procedures.
    • Although these factors may be difficult to quantify, successful health care leaders are able to weigh nonmonetary and monetary considerations when making their purchasing and budgeting decisions.
  • Spell out the pros and cons between this option and the issue presented in this assessment.
  • Explain how the concept of opportunity cost applies to the option?

Answer rating: 100% (QA)

Option 1 Title Increasing Nurse Salaries Proposal Increase the salaries of nurses to attract more qualified candidates and retain current staff Benefi... View the full answer