Tough Economic Times: Are Nurses Immune?

With all of the craziness in the economy and the widespread uncertainty about the future, there are few of us who won’t be affected in some way. Well, perhaps Warren Buffet or Bill Gates will dodge this downturn, buy even they may be worth a few billion less than a year ago.

I’m wondering how all of this will affect nurses.

I got to thinking about this yesterday when I saw an ad in our newspaper announcing the opening of a high-end fitness center by our local, large acute-care hospital. The center is separate from the hospital campus and purposely situated in an area of the county where there are many new, upscale homes.

I’m sure the center has been on the drawing boards for several years and the grand plan was for it to help bolster the hospital’s revenues. The site was chosen because of the socioeconomic demographics of the neighborhood, but now, many of these homes are in foreclosure. It’s my guess that the viability of this fitness center may be in jeopardy even before the doors open. In these tight financial times, people are less likely to join pricey gyms or commit to paying monthly membership fees. More likely they’ll opt to walk around the block, which might not be so bad.

Are there scenarios that could cause a drop in medical facility revenues and cause layoffs?

One trend that could have an effect is if people continue to lose their jobs, many of them will also lose their health insurance and thus use fewer medical services. This will hurt facilities’ bottom lines, which could affect nurses.

Of course, hospitals and medical centers will continue to provide care for the insured and uninsured, including those who arrive at the emergency room, because that’s what the law requires. But the number of procedures like gastric bypasses and other purely elective surgeries might take a nosedive, and these are procedures that help boost revenues.

Even with these possible adjustments, however, there seems to be an ongoing need for nurses. With so many approaching retirement age and nursing schools unable to meet the demand for enough graduates, shortages are predicted to continue in the coming decades. So it makes sense that a nurse will always be able to find a job. Whether or not it will be the job of his/her choosing, we don’t know, but opportunities should be available.

What is your situation?

How is this economic downturn affecting you or your area?

Is the recession affecting your place of employment?

Do you think nurses are immune to tough economic times?

Tell us what you think.