Nursing Business Essay

Read the following chapters in Financial Management for Nurse Managers and Executives, 5 ed., Jones (2019):

Chapter 3- The financing of health care

Chapter 4- Key issues in applied economics

Chapter 6 – Accounting Principles

Write 150-300 words post Identifying healthcare FINANCIAL MANAGEMENT ISSUES for nurse managers. Nursing Business Essay

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Nursing entrepreneurship calls for the application of nursing courses and business backdrop for the initiation of investment opportunities within the medical field, for instance, through establishment, promotion, and management of own organizations (Wall 29-40). Some nurse entrepreneurs develop medical equipment, computerized networks, and home health services (Wall 29-40). To succeed as a nurse entrepreneur, the necessary proficiencies encompass innovation, creativity, and capacity to realize financing and establishment of suitable markets, in addition to an unswerving client base. This study discusses the concept of nursing entrepreneurship, evaluates challenges, assesses policies that strengthen the facilitation of nursing entrepreneurship in generating reforms in the healthcare system. Nursing Business Essay

NEED FOR NURSING ENTREPRENEURSHIP
Pressure keeps on rising as medical schemes across the globe seek to satisfy the requirements of the population successfully, cost-effectively, and efficaciously (Graham 41-42). There are extensive concerns regarding unsuitable proficiency mixes in the medical professionals, problem hiring and retaining personnel, in addition to the underutilization of most health staff members (encompassing the nurses). Needs-anchored, patient-focused advances to care that utilize mixed employee groups are broadly advocated as vital for medical systems for the provision of flawless, affordable, and excellent care that is available to everyone. Such an approach to medical care, particularly the application of evidence-anchored interventions, has illustrated enhanced medical findings. Interdisciplinary medical teams have the ability to boost results, subsequently decreasing outlays, and increasing timely access to care. Medical infrastructures that are sufficiently financed deliver germane care and are backed by a labor force suited to the health requirements of the population, which makes them essential for the provision of quality care. Nursing Business Essay

Nurses form the biggest percentage of health professionals, more than 80 percent of the medical personnel, and are deemed a significant component of the healthcare system in many nations (Graham 41-42). Regardless of the immense and considerable task of nurses in the medical field, they are usually regarded as equal partners in medical care groups. On this note, nursing proficiencies are usually underutilized across the healthcare system. Nonetheless, studies affirm that nurses have a significant role in the creation of a medical system that will gratify the requirements of reasonably priced, safe, excellent, accessible, and patient-focused care (Gilmartin 641-644). It is imperative for nursing personnel to exercise the complete extent of training and skills while endeavoring to change the manner in which medical care is offered through the formation of partnerships with other health experts. Nursing Business Essay

A wide pool of studies identifies that there is unrealized scope for extended practice for nurses operating in collaboration with physicians, as well as allied medical professionals (Graham 41-42). It is attributable to this acknowledgement that the scale of operation for nurses has in the past widened significantly with the enhancement and execution of advanced and specialized nursing proficiencies, for instance, the tasks of nurse practitioners and advanced practice nurses, which calls for execution through novel approaches to performance. The proficiencies of nurses are executed in numerous care environments across the healthcare system from the public or community medical services to primary care, to long-standing or supportive care, and critical care. Therefore, there is a great necessity for nursing entrepreneurship to address the problems of medical reforms around the world, all through the field of medical care (Wilson, Whitaker, and Whitford 7-12). Nursing Business Essay

CONCEPTS
Entrepreneur. Entrepreneurs denote the people who establish and run enterprises, particularly businesses, often with substantial ideas and risks (Yan and Judy 502-518). Instead of operating as employees, entrepreneurs manage businesses while taking all risks and incentives of business ventures, notions, and services provided. Entrepreneurs are thus considered innovators and leaders in business practices. Entrepreneurs have a tendency of excelling at identifying successful business opportunities and usually express constructive biases in their insight (that is, prejudice regarding finding new potentials and realizing unmet market demands) and a pro-risk taking stance that gives them a higher possibility of exploiting the arising opportunities. The entrepreneurial spirit is typified by innovation and taking risks (Yan and Judy 502-518). Nursing Business Essay

Innovation. Innovation signifies the outcome of the translation of novel schemes or inventions for the establishment of services that generate value or enhance excellence (Sharp and Monsivais 562-566). Innovation calls for the urge for nurses to seek distinctive tasks that back a broad range of operation and which fill gaps in medical care. Innovation in nursing aimed at enhancing medical findings, diagnostic and treatment alternatives, in addition to the success and cost efficiency of care are often taken to be the outcome of information technology instead of human aspects. Creative and innovative nursing services offered by entrepreneurial nurses all through medical environments present a means of facilitating human control of novel medical care (Yan and Judy 502-518). Nursing Business Essay

ENTREPRENEURSHIP IN NURSING
Nursing entrepreneurship offers nurses self-employment chances that permit them to pursue their personal vision and passion for the improvement of medical findings with the help of innovative techniques (Yan and Judy 502-518). Akin to other forms of entrepreneurs, a nurse entrepreneur operates as a proprietor of a business that provides nursing services in terms of direct care, research, education, consultation, and administration, all aimed at improving the health of the patients through quality service and care. In this regard, nurse entrepreneurs are self-employed and wholly accountable to the patients/clients for whom they offer services (for instance, individuals, nonpublic, or public organizations) (Kovalainen and Österberg-Högstedt 17-35). On this note, the nurse entrepreneurs might carry out an independent medical practice, start a business (such as pharmaceutical companies or nursing homes), or offer consultancy services (for instance, research and teaching). Hence, such nurses are innovators who instigate inducements that result in change, the modernization of medical services, and expression of leadership. The application of creativity in the development of excellent approaches, enhancement of services and delivery techniques, or creation of new means of care provision is an imperative attribute of nursing entrepreneurship. Employing such attributes with enhanced or unique proficiencies and expertise assists nurse entrepreneurs in the development of services and products that can be employed in both internal and external markets. Nursing Business Essay

CHARACTERISTICS AND THEIR EFFECTS ON HEALTHCARE
Sociability, kindness, and social entrepreneurship are the major characteristics that are well-suited to nurse entrepreneurs and might boost such prospects in the career (Davis, Marino, and Vecchiarini 147-165). Although sociability and kindness are mainly connected with the voluntary and nonprofit-making segments, they are as well applicable in profit-making businesses such as in nursing entrepreneurship. Though the majority of entrepreneurship businesses are mainly perceived as business undertakings that seek to realize monetary benefits, nurse entrepreneurs could be considered as endeavoring to attain excellent medical outcomes for as many people as possible. This way, such initiatives represent instances of nurse entrepreneurs offering quality services for the benefit of the wider community. Sociability and kindness are attributes that result in the formulation and execution of innovative techniques and practical models for the realization of a social benefit. Contrary to traditional business operations amid entrepreneurs, sociability in nursing entrepreneurship concentrates on the generation of social proceeds. In this regard, the major objective of sociability amid nursing entrepreneurs is to promote environmental and social ambitions. Nursing Business Essay

Social entrepreneurship advances in medical practice position, nurse entrepreneurs on the same platform as individuals who identify a need and establish the most excellent manner of remedying the arising concern (Sullivan 166). For nurse entrepreneurs to generate sustainable, nurse-directed, social health approaches to care that deal with gaps in the contemporary medical care, they are required to uphold high influence and control, which are the details that financiers at federal and state levels seek. Embarking on nursing entrepreneurship from a social welfare standpoint plays a vital role in facilitating creativity and innovation required for the influence of such nurses to become more satisfactory within the career. Moreover, visibility and expression of the operations of nurse entrepreneurs is likely to assist the community to comprehend the manner in which lasting challenges and futile models may be handled through productive approaches. Studies affirm that it is the accountability of health professionals, mainly nurses, to initiate service advancement programs locally. Therefore, medical boards should support nurse entrepreneurs in their efforts of improving services at the local level via the generation of social enterprises. Nursing Business Essay

CHALLENGES
Lack of Crucial Support. Throughout history, there have been challenges and hindrances to the initiatives of nurse entrepreneurs when carrying out leading reforms in healthcare (Lyons 1-5). Nevertheless, their determination to realize the required changes has backed the evolving nursing role thus ensuring constant progress. The necessity for changes in healthcare around the world remains a major concern. Nonetheless, the biggest group of health professionals, the nurses, is internationally poorly trained, understaffed, and defectively deployed. The main role of nurse entrepreneurs is the provision of collaborative and quality care of clients of all ages, gender, societies, and ranks, whether ill or well, and in all environments. In this regard, nursing entrepreneurship seeks to provide enlightenment, promote health, prevent illnesses, and offer quality care to all, irrespective of whether sick, disabled, or dying. Nurse entrepreneurs play a crucial role in their operations as individuals, members, and directors of professional teams. Regardless of the extent of services offered by nurse entrepreneurs, nursing perceptions of medical needs across the sector, and awareness of the significance of the progression, nurses are not recognized as important stakeholders in healthcare. Moreover, they are usually not equal partners on medical teams, which deny them vital material and moral support.  Nursing Business Essay
Obstacles to Self-Employment. For nurse entrepreneurs to function effectively in collaboration with other medical professionals, ignorance and mystification regarding their role and affiliation with other caregivers, monetary and cost concerns, legal matters, and client satisfaction ought to be tackled. Research affirms that nursing entrepreneurship is restricted and inadequate to inform reforms to healthiness strategies and nursing education. Hindrances to self-employment for nurse entrepreneurs present great difficulties (Meek 320-322). Lack of acknowledgment of nurse entrepreneurs when judged against the one offered to other self-employed medical professionals, is worsened by professional segregation, lack of a safety network, and confrontation or opposition from colleagues. Over and above the lack of reliable data on the concerns of nursing entrepreneurship, there are inadequate studies to support transformations to the medical system required to benefit from the role of nurse entrepreneurs. In particular, there is minimal evidence to offer adequate guidance to medical systems across the globe in terms of the implementation of novel nursing approaches effectively in entrepreneurship tasks, which encounter tremendous obstacles to effective progression. There is also inadequacy of research outcomes to result in transformations to nursing education for nurses to envisage and practice such roles successfully. Nursing Business Essay

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Lack of a Collaborative Environment and Adequate Funding. A collaborative setting for capitalization on the proficiencies of nurse entrepreneurs is fundamental for nursing personnel and other health professionals to attain their vision. Although considerable progress has been realized, it is faced with constant challenges that ought to be addressed. In the US, nurse entrepreneurs have resorted to operating in regions that are medically neglected to offer a safety network for Medicaid beneficiaries and uninsured residents. In such regions, nurse entrepreneurs offer high quality and cost-effective care, which promotes the wellbeing of the residents and decreases the level of hospitalization. Nevertheless, it is hard for nursing entrepreneurship to realize monetary sustainability as the nurse entrepreneurs depend on Medicare and Medicaid compensation, private donations, and government financing. Reliance on the unpredictable sources of funding restricts the rate of stability and confidence in nurse entrepreneurship amid most potential clients. Apart from this problem, almost half of the managed care insurers fail to pay nurse entrepreneurs offering primary care (which is an unlawful practice), and the law keeps on being unimplemented (Clendon 1445-1446). The other challenge that nurse entrepreneurs encounter is in the primary care doctors’ organizations pushing for the definition of primary caregivers to include physicians only. Opposition and lack of collaboration from medical organizations requires being tackled for successful health transformations that feature nurses in full range, innovative tasks, and adequate financing for success. Nursing Business Essay

STRATEGIES
Healthcare Reforms. There is a need for key initiatives to commence with the purpose of evaluating and changing the nursing career in the US (Keane 16-17). Necessary reforms in the operations of nurse entrepreneurs assert that nurses, seeking to offer quality and affordable care, have a key task in the attainment of the goals of accessible, suitable, quality, and affordable care. For this to be realized, hindrances that bar nurses from responding successfully to the swiftly varying health care aspects and an advancing medical system ought to be handled. If this is done, nurse entrepreneurs will be better placed to implement transformations for advancements in healthcare systems. Hindrances to healthcare reforms encompass the incapability of nurses to practice to their level best, poor access to learning that permits flawless succession to high levels, and minimal opportunities for effective collaboration with other health professionals. Other requirements for enhanced healthcare reforms are advanced research, extensive gathering of data, and information networks on the needs of medical personnel. Nursing Business Essay

Traditionally, innovation, creativity, and nursing entrepreneurship in the nursing course have been avoided since dominant values are recognition, consistency, and direction. Enhanced recruitment and learning approaches are required to train nurses for entrepreneurship tasks and offer leadership, manage care, and establish vital conduits. This is necessary not only in the US, where nursing entrepreneurship is enormously being employed, but across the globe. Though there are risks and hindrances in becoming innovative as a nurse entrepreneur, for nursing entrepreneurship to attain a substantial position in the healthcare sector, there is a need for it to be promoted in an effort of generating confidence and skills in nurses. Nursing Business Essay

Improvement of Research and Practice. Health transformations are necessary around the world because of the substantial aging populace and augment of chronic illnesses (such as asthma and diabetes). To satisfy the demands of future cohorts, the healthcare sector ought to facilitate nurses to operate to their maximum potential and enhance their proficiencies (Keane 16-17). Nurse entrepreneurs ought to be given the opportunity of assisting in the betterment of medical services in a cost efficient manner, but for this to happen, they have to be considered equal partners in the provision of care. The fact that many nurses are progressively shifting to entrepreneurship roles is evidence that positive results will be realized as nurses enhance their efforts towards quality care. It appears apparent that nurse entrepreneurs are putting efforts in entrepreneurship. This occurs through nurses carrying out operations in clinics in care provision and as specialists in the prevention of the worsening of chronic sicknesses in crucial situations. Nursing entrepreneurship is largely being well-established in care provision. Nonetheless, studies on nursing entrepreneurship within the healthcare field are insufficient. Research that ascertains the significance of the tasks where nurse entrepreneurs offer better medical results and the best means of achieving the desired results is needed.  Nursing Business Essay
Numerous activities and policies ought to be executed to promote nursing entrepreneurship (Keane 16-17). One of such policies is the provision of nursing learning that could entail placement with nurse entrepreneurs or business courses to ascertain that graduating from nursing equips one with proficiencies necessary to guide, challenge, and innovate. Interdisciplinary learning ought to be offered in a bid to introducing health professionals to the realization of nurses as equal partners in the provision of care. Health professionals ought to promote chances of collective partnership in research, learning, and practice to encourage unity and role awareness amid care providers. Medical reforms should be progressively inclined toward reinforcing and intensifying health care systems where care will be transferred from major health facilities to nurse entrepreneurs within the community. Improved highlighting on health promotion and disease prevention should be set to thwart the occurrence of chronic illnesses and maintain successful disease management, in addition to tackling health inequalities and boosting reasonable access to care. With respect to the full capacity and achievements of nursing entrepreneurship, healthcare systems ought to base the triumph of medical transformations (for instance, in Australia and America) on a nursing labor force that is suitably educated and backed for novel practices in numerous settings. Nursing Business Essay

CONCLUSION
There is a great obligation for nursing entrepreneurship to concentrate on the problems of medical reforms around the world, all through the sector of medical care. Creativity and innovation in nursing services offered by entrepreneurial nurses all through medical environments present a means of easing human control of novel medical care. Nursing entrepreneurship proffers self-employment for nurses and chances that permit them to track their personal vision and zeal for the improvement of medical findings with the help of innovative practices. For the success of nursing entrepreneurship, impediments that bar nurses from responding productively to the speedily varying health care characteristics and an advancing medical structure ought to be resolved. Nursing Business Essay