...Demand Versus Supply of Registered Nurses HCS/552 March 19, 2012 Jayme Carrico Demand Versus Supply of Registered Nurses Demand versus supply in the United States continues to be an issue with increasing shortages of registered nurses (RN) and the increasing demand for health care services. There is a higher demand for registered nurses because of the increase in population, aging baby boomers, and increase in chronic diseases. The shortage of registered nurses impacts the health status and quality of life of the population. Factors that impact health care are the importance of supplying adequate nursing personnel and retaining RN’s in the workplace. There is a need to provide resources to educate registered nurses along with recruiting future registered nurses. “Economists use the concepts of demand and supply to inquire how the quantity of services used changes as price changes” (Getzen, 2007, p. 24). The purpose of this paper is to discuss demand versus supply of registered nurses and the effects of consumer demand versus the economic variables of cost, access, and supply. Demand Registered nurses are in more demand than ever before because of the continued nursing shortages. Factors contributing to the shortages are advancements in technology, people are living longer, and the health care needs are more complicated. In the early years nurses were trained to take vital signs, administer shots, and insert catheters. Nurse training in the...
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...this paper, the writer will select a service, such as health information technology, and argue the impact on consumer demand on health information technology versus the economic variables of cost, access, and supply. In addition, the writer will back his/her perspectives and rationale for the constant delivery of health information technology based on supply chain model. Demand is the quantity of goods a buyer needs, the quality demanded is the quantity of product buyer will pay for at a certain price. Demand always generate supply and vice versa, when demand increase, supply increases also their relationship balances each other. Supply is the total amount of a service or product in which a market will offer. Quantity supplied is the sum of a service or product that suppliers are ready to give at a certain price. As with demand quantity will be available as with everything else that has to with calculations. Supply and demand has its own law that governs them. The law of demand is “when all factors stay constant, if a good has a higher price, individuals will not demand it much.” It also means when the price of goods drops, the demand of the product will increase, and more people will want the product. Supply also has its own law that is “when prices rise for certain product or service, dealers will be willing to provide more of the product.” When a supplier provides more of a product or service, he or she makes more profits. As proceeds booms with greater demand, the...
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...Demand Versus Supply Paper Troy D. Burks University of Phoenix HCS/552 Health Care Economics JAYME CARRICO February 17, 2014 Demand Versus Supply: Home Health Care Services It is not a secret the health care industry in the United States is highly competitive, that demand for medical services and products grows faster every year, and that supply in certain areas is shortening. The demand for health care products and services is the result of the society’s desire of living longer and maintaining a better health status. In the present, patients are very interested in learn about the new alternatives the market offers to improve their wellbeing and suppliers are more alert of the population’s wants and needs. Additionally, the multiple advances in technology have created a whole new scenario for delivering health care increasing the demand and supply of technologic advanced goods (products and services). Population’s requirements for better services in terms of quality and effectiveness are also crucial determinants of the trends in the demand and supply of certain health care goods. A service that has become highly demanded not only for the reasons aforementioned but also because the increasing of the aging population and the government needs of cutting health care expenditures, is the home health care. As its name indicates it is an array of services that patients receive in their home as part of an illness, chronic condition or injury treatment. Services include...
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...Demand Versus Supply Of Registered Nurses Health Care Economics HCS/552 May 22, 2011 Pattie Skjerve Demand Versus Supply Of Registered Nurses The writer will discuss the circumstances that play a part in the insufficiency in the supply of nurses, basically, the absence of instructors that are needed in these nursing programs, along with various issues in recruitment and retention of nurses. This paper will also provide detailed statistics that will explain and demonstrate how important the demand for registered nurses will eventually surpass the supply, due to the evolving census of an aging population. The paper agrees that reinvestment in the nursing profession is very important to assure a sufficient supply of nurses that will meet the likely predicted demands of the economy. Let's start in the early 1950s, when the idea or simple thought of becoming a nurse was considered and recognized as one of the most volunteered professions in society. The nurses would make beds and smile happily in the various faces of the different patients, as well as check temperatures. Today, this is somehow not the case, nurses play such an important part in our health care system now, that we have taken them for granted for too long and it is time we realize it by making those necessary changes. The largest group of health care professionals in the United States are composed of Registered Nurses and still we are faced...
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...Demand and Supply The exchange rate can be defined as the price in which we exchange a specific currency for another. Currently $1 U.S. Dollar equals 0.923300€ Euro which basically determines how many Euros you can obtain for 1 dollar. Currency rates are constantly fluctuating which means that they are being traded 24 hours a day, 7 days a week, 365 days a year throughout the entire world. In the simplest of terms exchange rates fluctuate due to supply and demand. Determining the supply and demand of exchange rates are attributed to two main causes, among several smaller factors, which are higher interest rates and lower domestic prices. For consistency purposes I will be using U.S. Dollars $ compared to the Euro € to explain and use as examples throughout the paper. When U.S. has higher interest rates when compared to foreign countries this will lead to an increased demand for U.S. dollars. The higher returns associated with higher interest rates leads to foreign investors looking to invest in the U.S. market. When the U.S. has lower prices on its common goods this will also lead to an increased demand for the U.S. dollar. Lower prices on goods and services leads to foreign consumers looking to capitalize on the opportunity to pay less for U.S. goods and services versus purchasing them domestically. The supply of exchange rates shifts because of the same causes, interest rates and lower prices. (Bullshit about Supply) (Throw in a Supply and Demand Graph) Real Exchange...
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...ac.ae Abstract - In this paper, a novel formulation for the capacitated warehouse inventory-location model with risk pooling for multiple products is proposed. A single plant ships different types of products to retailers via a network of warehouses. The locations and inventory policies of the warehouses are chosen so as to minimize the sum of fixed facility location, transportation, and inventory carrying costs. The warehouses retain safety stock so as to maintain appropriate service levels in the face of uncertain demand at the retailers for multiple products. Keywords - integer programming, location-inventory, multiple products, supply chain optimization I. INTRODUCTION Supply Chain Management spans all movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption [1]. It involves decisions on facility location, technology selection, inventory management, and distribution. These decisions can be categorized into three different levels: strategic, tactical, and operational. Particularly in today’s competitive business environment, the importance of integrating these decisions so as to minimize costs and maximize customer satisfaction cannot be underestimated. Much of the research literature treats the different decision levels separately; few papers deal with optimizing jointly over both the tactical and operational levels, and even fewer involve multiple products. In this paper, we study a multi-product...
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...Demand Versus Supply Paper “Demand refers to one of the fundamental concepts in economics. Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship” (Hekla, 2012). Supply represents the amount the market can offer. Quantity supply is the amount of a certain product that can be produced for certain prices. Price is the relationship between supply and demand. “The law of demand is if factors remain equal, the higher the price of the supply the less demand there will be. The law of supply is the quantities that will be sold at a certain price, and the higher the price the higher the quantity supplied” (Hekla, 2012). This in turn increases revenue because with high demand, comes high supply due to wanting or needing the product. With high supply and low price, than comes high demand due to the lower price. Demands and supply for health care products and medications continues to be in high demand as products are developed. The newer the product, the higher the demand, and the higher the price. Product Lovenox is a product used to treat and prevent deep vein thrombosis or pulmonary embolisms. This medication is given subcutaneously by a care giver or the patient may be trained to give their own. Lovenox is also known by the generic name of Enoxaparin. Lovenox is used in the...
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...career as a doctor. Since she knows I am currently taking this course in Economics, she is interested in learning how economic principles could play a role in her potential career path. In order to better help Jenny, I have conducted some research to help her make an informed decision. Over this course of this paper, I will explore several economic facets to help make sense of the data about this profession including the supply and demand, elasticity, costs of production, pricing, and economic or normal profit or loss. My goal is to better educate myself on these basic microeconomic concepts while providing Jenny with valuable data! To begin, the discussion will focus on what the demand for doctors looks like. I found an interesting article that focuses on the shortage of available physicians in the United States. This article paints a startling picture of how the demand for physicians will continue to grow over the next decade, as the available supply of physicians remains far less than the demand. Below is an interesting trend graph that this article presented. The article also goes on to discuss how the recently implemented Affordable Care Act will impact the demand for physicians. As we can see from the chart listed above, the Affordable Care Act will open up the amount of people (or buyers) who will seek to utilize the services of a physician. The article projects that this act will add an estimated 30 to 40 million more Americans into the “healthcare patient pool”. In...
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...Key Supply Chain Performance Indicator Paper Danny Shieh ISCOM/370 March 31th, 2012 Leon Powell Key Supply Chain Performance Indicator Paper The success of a company can often be represented by its performance of the supply chain element. Such performance is measured to ensure the flow and process of each element is accurate and up to standard based on the company’s goals and objectives. In this paper, author will first define supply chain and its elements, then define the meaning and importance of key performance indicators. Lastly, Author will explain three example indicators, how it is calculated, and what the number means. Supply Chain Management Supply chain management (SCM) is defined as managing the flow of information and materials from upstream suppliers to downstream customers. The Institute for Supply Management’s definition states that “Supply chain management is the design and management of seamless, value-added processes across organizational boundaries to meet the real needs of the end customer” ("Institute for Supply Management", 2011). The elements of the supply chain are components that made the flow possible. Such element includes supplier, logistics/transportation, purchasing, production, inventory, planning, IT, quality assurance/quality control, and customer. These elements are important to the flow of supply chain as they each contribute a function that worked together...
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...Abstract This paper goes into great detail of describing the association of risks with insurance. We do not think that there could be risks associated with insurance but, there is. The next focus in the paper is to determine what types of ethical misconduct can be foreseen if the supply and demand of insurance was too much to handle. This paper gives opinion of whether or not a person’s income should be a consideration as to whether or not they should be insured. Driving factors for the basis of a consumer seeking insurance and how it compares to the empirical measurements were discussed in detail as well as how to measure the demand for insurance. Lastly, the paper breaks down the lemons principle in terms of how it applies to health care and where we are today. Key words: insurance, health, supply, demand, insured What is insurance without risk? When we think of the term insurance the first though that comes to mind is something that we are given by our employers or others in the event that something should happen to us we are covered. One can say that insurance for consumers is almost the same as the insurance we purchase for our cars. The insurance covers us for medical procedures that might have to be incurred at the time of an accident. The proper description of insurance is that of the providing by a company to the consumer in the return of a premium or co-pay (Folland, Goodman, Stano, 2013). Insurance now has become more important to have than ever with all of...
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...faster pace compared to other sectors during 1970-71 to 2010-11, with CAGRs of 9.67% and 8.61% respectively. Power generation in India: According to the MoPNG, gas use in India amounted to 59 bcm in FY 2009/10, up from 43 bcm in FY 2008/09; energy use amounted to 61% compared to 39% used for non-energy purposes. Before the start of Krishna-Godavari in April 2009, consumption was supply constrained and demand for gas could easily have been 30 bcm higher. Indeed, it is important to make a clear distinction between potential demand and actual consumption as these numbers widely differ. In 2007, unmet demand was estimated at 35 bcm.18 Demand has been constrained by the lack of supply as domestic production and LNG imports, even at the recent higher supply rates, were insufficient to meet potential demand. The IEA presented two longterm scenarios in the WEO issued in November 2009: a Reference Scenario and a 450 Scenario. The first scenario can be described as business-as-usual, while the second tries to limit the global temperature increase to 2°C. In its Reference Scenario, the IEA expects Indian gas demand to increase to 94 bcm by 2020 and to 132 bcm by 2030, driven by the industrial and power generation...
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...Christian Scheminant ECO/372 May 10, 2016 Mr. Michael Kraynik Product Purchases and the Economy For this paper I’m going to select buying a home as my product of purchase since I’m currently in the market of selling my existing home and purchasing a new home. When considering making large financial purchases in today’s economic world, you have to take into consideration the possible long-term effects on your financial situation, current budget or future outcome. You have to ask yourself if the purchases you want are ideal and are you in a financial position to make such a significantly large purchase. There are so many factors to consider than just personal obligations or wants, but is it economically sound in today’s market as well. In this paper, I will talk about and try to explain some of the economic indicators such as interest rates and inflation rate as well as job market for the area. While considering if any of these indicators impact the supply for what I will demand over a two year period. Also in this paper, I have to answer how I might apply my understanding product, and how I am considering purchasing versus the supply and demand. Also I need to describe the impact on the price of the home and whether making the purchase should or should not occur or possibly be beneficial to me. Lastly, I will see if there are any macroeconomic shifts in supply or demand affecting the price of the Home. Thus, leading to the final decision of whether to purchase a new house...
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...------------------------------------------------- TERM PAPER ------------------------------------------------- OF Operation management ON (SUPPLY CHAIN MANAGEMENT PRACTICES OF VARIOUS RETAIL CHAINS) TERM PAPER MORE FREE TERM PAPERS ON SITE: www.BesplatniSeminarskiRadovi.com Introduction: Supply chain management (SCM) is the management of a network of interconnected businesses involved in the ultimate provision of product and service packages required by end customers. Supply Chain Management spans all movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption. It defines SCM as the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand, and measuring performance globally." A supply chain is a network of facilities and distribution options that performs the functions of procurement of materials, transformation of these materials into intermediate and finished products, and the distribution of these finished products to customers. Supply chains exist in both service and manufacturing organizations, although the complexity of the chain may vary greatly from industry to industry and firm to firm. Supply chain management is...
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... Abstract This paper will evaluate the strengths and weaknesses of four healthcare organizations. It will describe the services provided by each. The Efficiency of the Healthcare Service Few industries in the world have a higher need than healthcare. Healthcare is quickly becoming the fastest growing capital expenditure. As the population ages, so does the demand and need for healthcare services. This growth translates into ample job opportunities. A career in healthcare management presents professionals with a thriving, growing and the moral gratification of maintaining their communities. There are several types of healthcare organizations. With so many branches to the healthcare field, how does one assess the facility with the right fit? Every healthcare organization has strengths and weaknesses. Healthcare facilities are divided into two categories; proprietary and non-profit. A healthcare facility is structured by the clinicians and the administrators. I chose my community of Kennesaw, GA to highlight the health services needed and being provided. Kennesaw is located about 20 miles northwest of Atlanta with a population of 32,000 estimated by the US. Census Bureau. Currently the median age group is 31. In this paper, I pick out four healthcare organizations, define their strengths and weaknesses, and show their political/economic value. A doctor’s office is an extremely in-demand healthcare organization, especially...
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...ABSTRACT This paper compiles information from different sources, in reference to demand for used car versus new cars. The supply and demand for used car continue to increase. We see a trend from 1995 to 1999 and again from 2009-2010 (2011 not release yet) for used car sales increased. Increase in demand due to high gas prices and the short supply of Japanese small new cars. We find a significant demand response, as nearly half of the decline in sales of U.S. manufacturers from 2002-2010 was due to the increase in gasoline prices. On the other hand, a gasoline tax increase would have a modest effect on average fuel efficiency. The effect of prices of used cars on the demand for new cars are mixed, customers are looking for more efficient cars, and less payments. The recession in the United States is driving more costumers to buy used cars since they are more affordable; also the earthquake in Japan created a short supply for small cars in the market, bringing more opportunity for the used car to be in demand. One thing to keep in mind because of the demand for small cars and compact cars is rising, the dealerships are selling used cars for more than their actual MSRP, and the customers are buying them, therefore moving the economy in the right direction. We the used car prices increasing and Japan being able to continue manufacturing small and compact cars, customers are beginning to lining more and more for new cars. We the high prices of gasoline, the used car mind set...
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