Financial Incentives/Costs In no more than 250 words, summarize the financial impact for the issue and the idea (added costs, cost savings, increased revenue, etc.). Provided support.

 

Increased nurse to patient ratios within hospitals increases turnover rates and costs. Also, increased medical errors and adverse patient outcomes including mortality increased hospital costs since there may be litigations if there is justifiable negligence (Haddad & Toney-Butler, 2020). The implementation of mandatory staffing ratios will result in an increase in the cost of hiring more nurses. The provision of additional care will not result in additional revenue. Since a hospital that implements the required  nurse-to-patient ratios does not receive additional reimbursement, implementing the idea may be difficult. Overall, the implementation of the proposed idea would increase the annual costs within a healthcare setting (Joaquin, 2019).