Question

Although the number of physicians and nurses has steadily increased over time there continues to be concern about impending shortages of physicians and nurses. Recently there has been more concern about physician burnout.

1. What role does student debt play in this workforce market?

2. How could physician and nursing shortages be altered by policy changes (wages, policy, substitution, barrier changes)?

Answer 1

I have explained the above 2 questions in detail below:

1. Higher education has become an integral part of our lives as more and more young people yearn to study more and in order to nance their education student loans are catered to them via public and private finance. One of the inflicting problems are a fall in the state loans and reduction in goverment sponsored education. Families and students can no loger rely on scholarships, grants and personal savings as they fail to keep up with the increasing tution fees. This is causing a crowding out effect on the workforce as there are no business happening or investments. There is a fall in the entrepreneurial activities and it is causing a rise in the borrowing rate in the economy and less spending which would increase student defaulters and cause a fall in the credit ratings.
2. The shortage of physicicans and nurses could be altered by policy changes : At the lower pay scaale levels there are opportunities for support staff who can be professionally trained and enable them to take on caring responsibilities, clinical skills can be extended within the scope. There should be role clarity among the practioners. There is an imprtant association of work environements with nurse outcomes and net of wage effects which implies that wages are important but they do not lead to better outcomes and more favourable work environements are associated with less burnouts, less of job dissatisfaction.Further, it can be noticed that hiring more can be more costs but this would increase productivity, decrease in profits, increase eopportunity costs but better patient outcomes.