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An in-depth guide to preparing accurate nursing budgets, this book will help you improve your financial skills and contribute to your organization's strategic planning. It discusses the different types of budgeting, the budgeting process, forecasting, variance analysis, and costing out nursing services. A variety of settings are included: hospitals, long-term care, home health, community health, managed care, and others. With this guide, you'll learn how to communicate effectively with financial managers, succeed in your role in the budgeting process, and assist in the delivery of high-quality patient care at the lowest possible cost. Each chapter includes Learning Objectives to focus your study and a Summary and Implications for Nurse Managers to reinforce what you've learned. Additional Suggested Readings provides helpful resources for further research and study. An appendix includes numerous sample budget forms and instructions, allowing you to see firsthand the various types of budgeting forms used in day-to-day practice. New "Budgeting for Information Systems" chapter describes how to budget for information technology (IT), what kind of personnel you should consider hiring to support the nursing IT function, and how to evaluate IT products. New "Budgeting for the Operating Room" chapter covers key stakeholders in the budget development process, developing the prioritization process, and specialized aspects of the operating room budget. A discussion of magnet hospitals has been added, including the cost implications of applying for "magnet" status. Coverage now includes different delivery care models and their potential budgetary impact to a health care organization, along with Clinical Ladders and the budgetary implications of nurses "testing-up" the ladder. Budgeting for clinics and same-day surgery facilities is described. Updated and expanded content discusses budget variance analysis and interpretation of budget reports that differ from the planned budget. Includes the budget implications of outsourcing, and how to determine whether outsourcing is cost-effective for a particular service.
The Nurse Manager's Guide to Budgeting and Finance, 2nd Ed. provides practical tools, tips, and strategies for running a unit when faced with the realities of patient-staffing ratios, budgets, reports, and accounting--things seldom taught in nursing school.
Covering the financial topics all nurse managers need to know and use, this book explains how financial management fits into the healthcare organization. Topics include accounting principles, cost analysis, planning and control management of the organization's financial resources, and the use of management tools. In addition to current issues, this edition also addresses future directions in financial management. - Nursing-focused content thoroughly describes health care finance and accounting from the nurse manager's point of view. - Numerous worksheets and tables including healthcare spreadsheets, budgets, and calculations illustrate numerous financial and accounting methods. - Chapter opener features include learning objectives and an overview of chapter content to help you organize and summarize your notes. - Key concepts definitions found at the end of each chapter help summarize your understanding of chapter content. - Suggested Readings found at the end of each chapter give additional reading and research opportunities. - NEW! Major revision of chapter 2 (The Health Care Environment), with additions on healthcare reform, initiatives to stop paying for hospital or provider errors, hospice payment, and funding for nursing education; plus updates of health care expenditure and pay for performance; provide a strong start to this new edition. - NEW! Major revision of chapter 5 (Quality, Costs, and Financing), with updates to quality-financing, Magnet organizations, and access to care, provides the most up-to-date information possible. - NEW! Reorganization and expansion of content in chapter 15 (Performance Budgeting) with updated examples better illustrates how performance budgeting could be used in a pay-for-performance environment. - NEW! Major revision of the variance analysis discussion in chapter 16 (Controlling Operating Results) offers a different approach for computation of variances that is easier to understand. - NEW! Addition of comparative effectiveness research to chapter 18 (Benchmarking, Productivity, and Cost Benefit and Cost Effectiveness Analysis) covers a recently developed approach informs health-care decisions by providing evidence on the effectiveness of different treatment options. - NEW! Addition of nursing intensity weights, another approach for costing nursing services, to chapter 9 (Determining Health Care Costs and Prices), lets you make decisions about what method works best for you.
An in-depth guide to preparing accurate nursing budgets, this book will help you improve your financial skills and contribute to your organization's strategic planning. It discusses the different types of budgeting, the budgeting process, forecasting, variance analysis, and costing out nursing services. A variety of settings are included: hospitals, long-term care, home health, community health, managed care, and others. With this guide, you'll learn how to communicate effectively with financial managers, succeed in your role in the budgeting process, and assist in the delivery of high-quality patient care at the lowest possible cost.
This book helps nurses develop and refine good budgeting skills - a necessity in today's economy-driven health care system. Clearly written and thoroughly understandable, this new edition shows first-line nurse managers and their immediate supervisors how to work effectively with financial staff and management, and how to develop, monitor, and maintain departmental and institutional budgets. It is written at a level that assumes no previous financial management experience or expertise on the part of the reader.
"This text is an essential resource that addresses the financial management issues faced by nurse managers. Ideal for students, professionals, chief nursing officers, and those in nurse administrator roles, it examines the financial impact of administrative and management decisions across hospitals and healthcare organizations. The Fifth Edition was revised by a new lead author, J. Michael Leger, who brings the invaluable perspective of being both a PhD educated nurse and an MBA graduate. At its heart, this is a practical, straightforward budgeting workbook for the health care space"--
Financial Management for Nurse Managers: Merging the Heart with the Dollar, Third Edition is an essential resource that addresses the financial management issues faced by nurse managers. Ideal for students, professionals, chief nursing officers, and those in nurse administrator roles, it examines the financial impact of administrative and management decisions across hospitals and healthcare organizations The Third Edition covers a broad range of topics and includes a variety of real-world examples. Important Notice: The digital edition of this book is missing some of the images or content found in the physical edition.
Covering the financial topics all nurse managers need to know and use, this book explains how financial management fits into the healthcare organization. You'll study accounting principles, cost analysis, planning and control management of the organization's financial resources, and the use of management tools. In addition to current issues, this edition also addresses future directions in financial management. Chapter goals and an introduction begin each chapter. Each chapter ends with Implications For The Nurse Manager and Key Concepts, to reinforce understanding. Key Concepts include definitions of terms discussed in each chapter. A comprehensive glossary with all key terms is available on companion Evolve? website. Two chapter-ending appendixes offer additional samples to reinforce chapter content. Four NEW chapters are included: Quality, Costs and Financing; Revenue Budgeting; Variance Analysis: Examples, Extensions, and Caveats; and Benchmarking, Productivity, and Cost-Benefit and Cost-Effectiveness Analysis. The new Medicare prescription bill is covered, with its meaning for healthcare providers, managers, and executives. Coverage now includes the transition from the role of bedside or staff nurse to nurse manager and nurse executive. Updated information includes current nursing workforce issues and recurring nursing shortages. Updates focus on health financing and the use of computers in budgeting and finance. New practice problems are included.
Written by and for nurses, this key foundational text helps to build the fundamental economics and financial management skills nurses and nurse leaders need for daily use. This third edition delivers several new features, adding to its value as the only timely and relevant text written for the full spectrum of RN-to-BSN, BSN, and MSN students. It has been significantly revised to simplify content, to address the vast changes in and increasing complexity of U.S. health care financing, and to be useful in both traditional in-class format and hybrid and online programs. Two new and refocused chapters address assessing financial health and nurse entrepreneurship and practice management, and new material illuminates recent research findings and statistics. Chapters feature worksheets such as business plan checklists and text boxes expanding on key chapter content. The book is distinguished by its provision of case examples based on nurse-run clinic and inpatient nursing unit financial issues. It provides multiple opportunities for experiential learning, such as writing business plans and health program grant proposals. It delivers cost-benefit and cost-effectiveness analyses, discusses budget preparation, offers strategies for controlling budget costs, and updates relevant health policies and statistics. The text’s engaging format promotes the synthesis of economics and finance across the nursing curriculum through the use of end-of-chapter exercises, discussion questions, and games based on concepts within the text. Additionally, tips throughout the book alert students about the need to apply concepts from other aspects of their education to economic and financial situations. Also included are online supplemental materials for teachers and students, including Excel spreadsheets, grant proposals, a test bank, and PowerPoint slides. New to the Third Edition: Updates health reform, health care spending, and other relevant policies and statistics Includes two new and refocused chapters that address assessing the financial health of a business and nurse entrepreneurship and practice management Highlights recent research findings and key concepts in text boxes Provides blank and completed worksheets, such as business plan checklists, so nurses can apply financial concepts in their clinical settings Fosters understanding of key concepts with enhanced explanations and samples of business plans and other reports Key Features: Aligned with AACN and AONE guidelines, the CNL certification exam, and QSEN competencies Serves as a primary financial management text for multiple nursing academic programs Facilitates experiential learning through end-of-chapter exercises, games, tips for synthesizing knowledge, worksheets, and case examples Designed for use in traditional classrooms and in hybrid and online learning programs Includes a chapter on measuring nursing care with indicators for capacity, staffing, patient acuity, performance, and patient flow NEW! a FREE Q&A App is availabel (see inside front cover)
Leadership/Management/Finance