Demand Versus Supply
“Need and demand are different, yet complementary, perspectives on the complex set of human, financial, and scientific exchanges that constitute medicine” (Getzen, 2007). Although there is a great demand for health care services in the United States there are many factors that influence the supply of these services. For instance, registered nurses (RN) make up the largest group of health care workers and provide a great deal of services to the individual that is in need of care. This profession however is considered to have a current shortage of workers and this is predicted to increase drastically within the next ten to twenty years (Spetz & Given, 2003). There is a large demand for RN’s currently and the supply is ample enough that there isn’t a crisis. Within the next ten to twenty years there will be such a demand for nurses that there may not be enough to go around.
In an article of the Journal of the American Medical Association, workforce analyst Dr. Peter Buerhaus reported: “Over the never twenty years, the average age of the RN will increase and the size of the workforce will plateau as large numbers of RNs retire. Because demand for RNs is expected to increase during this time, a large and prolonged shortage is expected to hit the US in the latter half of the next decade.” This large deficit will be due to longer life expectancy, greater amount of elderly persons, increase in total population, and advances in medicine that will require the need for nurses.
Due to the shortage in this area there will be a high market demand for nurses. The model used to project the demand for registered nurses is the Nursing Demand Model (NDM). This model merges experiential data with input from experts within the health care industry. These experts provide data on how the health care industry functions and the role of nurses in the delivery of care (HHS, 2002). The Nurse Demand Model predicts future demand in six areas: outpatient,...