The economic impact of nursing

Abstract

Economics includes “the condition of a region or group as regards material prosperity” (Oxford Dictionaries, 2017). The links between material prosperity versus poverty, health status and quality of life are well documented as are the devastating impacts of population disparities on the aforementioned indicators (Association of State and Territorial Health Officials, 2012). Poor health affects the ability of people to work, generate income and care for their families—a widely understood conundrum. In short, economic position impacts health status, and health status impacts economic prosperity. Thus, matters of socioeconomic status and population health issues are of major interest and challenge for governments and policymakers (Fonseca, 2011; Smith, 1999). Poverty with associated population health disparities is particularly troublesome, vexing governments and policymakers globally and in low‐ and middle‐income countries (LMICs) in particular. Healthcare access impacts almost every human indicator including maternal/child mortality rates, rates of preventable infectious and noncommunicable disease, employability, gender equality, workforce productivity, trends in mortality rates and more (Ubri & Artiga, 2016). The issue of ageing populations further compounds issues.