How to respond to this posts in one or more of the following ways:

• Compare the sunk or opportunity cost example that your colleague described to your own professional experience.
• Provide an insight you gained from your colleague's analysis of how the cost impacted the organization and the stakeholders.
• Propose an additional way to address the scenario that your colleague described.

While working as a director of a labor and delivery unit, decisions needed to be made regularly about patient care, equipment, employees, and policies. An example of a decision was when the unit was going to be buying new electronic fetal monitors, which monitors maternal vital signs, fetal heart rate, and contractions of patients who require this type of assessment, usually patients laboring. There are many types of electronic fetal monitors and one type had to be chosen that took into account the cost of the fetal monitors, as well as the abilities of each machine. One machine could do everything the hospital needed, including fetal scalp electrode and maternal electrocardiograms with different adaptors, but most importantly would feed into the electronic health record. The second machine provided the same functions, without needing adaptors, but did not feed into the electronic health record.

The organization asked for my recommendation, as well as several others, and I was a strong proponent for the monitor that needed adaptors, requiring additional cost, but fed into the electronic health record. The benefits for this opportunity cost was the ease of charting and documentation for the nurses and providers; while also having an accurate record of events for potential litigation concerns in the future, as obstetric case's statute of limitations is usually longer than other areas and is more common. Not having to chart every detail, but being able to validate documentation instead, can save a substantial amount of time, increasing patient and employee satisfaction.

The alternative was the monitor that did not require additional adaptors, which would be a cheaper alternative, and there would not be the fear of expensive adaptors being thrown in the trash by mistake, which does happen. This is an opportunity cost, as the organization had to weigh the benefits of one monitor to the benefits of the other, and choose one that did not meet all the requirements, making the company forego the additional benefits of the one not selected (Walden University, LLC, 2021).

The organization chose to buy the monitor that did not feed into the patient's chart, as it was more expensive and feared they would have to continuously buy adaptors for the machines. The cost this had on the stakeholders was significant, as the providers and nurses strongly believed they would make the decision to alleviate their workload and allow more time spent with their patients. Patient satisfaction scores did not decrease, as this unit usually has high scores regardless, as most patients are satisfied with the care they received, and the nurses continued excellent care, however it was a source of tension for years after the decision was made. The cost was less than the other machines, if you include the cost of the adaptors that would need to have been purchased, however it became evident nurse dissatisfaction rose and turnover increased.

Now, with this knowledge, I would have been clearer in my rationale as to why the alternative would have been a better choice. The decision was ultimately at the hands of the executive team, who did not think about the opportunity costs and the impact they would have on the organization as a whole, specifically related to employee and patient satisfaction. The quality of patient care could also have been discussed for a rationale, as nurses could be more present with their patients, further improving vaginal delivery rates to decrease cesarean section rates, which is looked at closely by accrediting bodies and regulatory institutions.