NUR 499 Week 2 Assignment: Nursing Fair Value

NUR 499 Week 2 Assignment: Nursing Fair Value

NUR 499 Week 2 Assignment: Nursing Fair Value

It has been argued that women are not as effective at bargaining for wages as men. Since most nurses are women (even though numbers of men are increasing), it is possible that nurses remain significantly underpaid given their education and responsibilities. As in everything, the more prepared we are to accurately discuss salaries, the more effective we will be as a profession.

Read Chapter 3 and the Data for Occupational Employment and Wages for Registered Nurses, May 2015
Find two articles that examine pay for RNs.

Write a letter to the Chief Financial Officer at your institution (or previous institution if you are currently unemployed) making a case that RNs are undercompensated. This letter is NOT to be mailed either via email or USPS.

Support your assertions in the letter with data/information that you found in the articles.
Include in the letter what you feel the fair market value of RN’s services should be.

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Fair Value of RN Services

It can be a challenge to understand RN compensation. A variety of health care business models have been developed primarily due to the increasingly fractured payor systems; Medicare, Medicaid, CHAMPUS (VA), private policies, HMO, PPO, Fee-for-Service etc. Nurses are the largest expenditure for health care organizations and it is not difficult to understand compensation constraints. So how do nurses calculate the value of their services? What is a fair wage? If you were making the financial decisions, by what objective measures would you do so? The Bureau of Labor Statistics maintains detailed records for Occupational Employment Statistics. Read the Data for Occupational Employment and Wages for Registered Nurses, May 2017.

To Err is Human

In 1999, the Institute of Medicine turned the world of healthcare upside down. By asserting that 98,000 people were killed through error in hospitals, the relationship between patient and healthcare staff was forever changed. The effort, both financial and labor, that was instituted to address the issues leading to such a loss of lives was staggering.

And yet, few can say with certainty if that effort made a difference. A decade later the IOM issued an update. Read: To Err is Human- To Delay is Deadly: Ten years Later, Millions of Lives Lost, Billions of Dollars Wasted.

Nurses can join the pointing fingers group, or we can take a long, honest look at ourselves and our role in both the cause and the solution.