Nursing Finance
A. List the elements of a strategic plan. B. What are the benefits for strategic management and how it affects your organization along with the trickledown effect to the unit level.
Describe 3 different budget types utilized in healthcare. What type of items fall within each type of budget chosen and how would budget type be applied in your work environment?
The budget process is a timely process that involves input from varying levels in healthcare. Once a budget is put forth by a manager, what are the next steps in the time table that will take place?
Describe the process of a budget submission, negotiation, and approval. What type of justifications can be brought forth for negotiations. Provide 2 examples for justification.
Explain what a full time equivalent is. What is the difference of productive vs. non-productive hours and provide examples for each as it relates to your work environment. Are fixed staff different than variable staff, if so, provide an explanation for the use of both and how they differ?
Why are revenues often ignored in nursing budgets?
Provide 3 examples for areas of measurement for performance budgeting. How can these examples be applied for a nursing unit?
What makes up the largest part of an operating budget for a given unit? Provide examples for 2 expenses that affect the budget and how it could better be controlled.