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In 1979, Paul Feldstein, an American health economist, first used the principles of economics to discuss the long-term care market, registered market, and other nursing economy issues, laying the foundation for the emergence of nursing economics. [19] In 1983, Nursing Economic Magazine was founded in the United States, and its main research ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 9 December 2024. Economic sector focused on health An insurance form with pills The healthcare industry (also called the medical industry or health economy) is an aggregation and integration of sectors within the economic system that provides goods and services to treat patients with curative, preventive ...
Nursing is a health care profession that "integrates the art and science of caring and focuses on the protection, promotion, and optimization of health and human functioning; prevention of illness and injury; facilitation of healing; and alleviation of suffering through compassionate presence". [1]
Economies of scope is an economic theory stating that average total cost (ATC) of production decrease as a result of increasing the number of different goods produced. [2] For example, a gas station primarily sells gasoline, but can sell soda, milk, baked goods, etc. and thus achieve economies of scope since with the same facility, each new ...
Services constitute over 50% of GDP in low income countries and as their economies continue to develop, the importance of services in the economy continues to grow. [2] The service economy is also key to growth, for instance it accounted for 47% of economic growth in sub-Saharan Africa over the period 2000–2005 (industry contributed 37% and agriculture 16% in the same period). [2]
The service provider must deliver the service at the exact time of service consumption. The service is not manifested in a physical object that is independent of the provider. The service consumer is also inseparable from service delivery. Examples: The service consumer must sit in the hairdresser's chair, or in the airplane seat.
In the United States, scope of practice law is determined by the states' legislatures and regulatory boards. [1] [3]According to the National Conference of State Legislatures, non-physician health care providers are providing increasing levels of service to patients, especially in rural and other underserved communities.
The scope of home health nursing is directly related to the nursing process. This includes assessment, diagnosis, planning, implementation, and evaluation. [5] The standards of home health nursing integrate research, education, proper use of resources, the quality of care provided, team collaboration, and ethical principles. [5]