Fiscal Concerns in the Health Care Setting Case Study
As a manager of a unit, certain responsibilities and obligations are difficult to manage. There are major tasks that are connected, and each flows in a different direction, and the responsibility always lies with the manager. In a healthcare setting, the importance of nurses in contributing to fiscal planning has been recognized. According to Marquis and Huston (2012), nursing managers have to be experts in financial matters to ensure that there are patient and staff satisfaction within their organization. Therefore, to ensure that resources are used wisely and timely in a cost effective manner, nurse managers are supposed to have an appropriate balance when spending allocated finances and …show more content…
In that case, a nurse manager should ensure that he or she evaluates needs and visits the facility during shifts to assess the needs and prioritize them based on urgency when drafting a budget (Yoder-Weiss, 20015). To have an understanding of budgetary goals and how to attain them is the key to having an effective and efficient budget that can handle any emergency that might occur during the fiscal year (Marquis & Huston, …show more content…
The most accurate budget estimate was supplies and travel. Subsequently, the areas that were most inaccurate, according to the budget print out were personnel and overtime. The inaccuracy on personnel and overtime can be attributed to increased nursing workload and patient acuity that resulted in a decline in patient care and nurse turnover. To mitigate the issue of patient acuity, a point system model can be utilized to allow for proper distribution of nurses, and reducing nurses’ workload. On the other hand, the manager should create a leadership framework that is founded on proper communication, openness and trust. Also, the manager should foster an environment that allows staff to participate in initiatives that are aimed at improving the quality of care given and in turn this will promote a structure that aligned to the hospital vision and
As a manager of a unit, certain responsibilities and obligations are difficult to manage. There are major tasks that are connected, and each flows in a different direction, and the responsibility always lies with the manager. In a healthcare setting, the importance of nurses in contributing to fiscal planning has been recognized. According to Marquis and Huston (2012), nursing managers have to be experts in financial matters to ensure that there are patient and staff satisfaction within their organization. Therefore, to ensure that resources are used wisely and timely in a cost effective manner, nurse managers are supposed to have an appropriate balance when spending allocated finances and …show more content…
In that case, a nurse manager should ensure that he or she evaluates needs and visits the facility during shifts to assess the needs and prioritize them based on urgency when drafting a budget (Yoder-Weiss, 20015). To have an understanding of budgetary goals and how to attain them is the key to having an effective and efficient budget that can handle any emergency that might occur during the fiscal year (Marquis & Huston, …show more content…
The most accurate budget estimate was supplies and travel. Subsequently, the areas that were most inaccurate, according to the budget print out were personnel and overtime. The inaccuracy on personnel and overtime can be attributed to increased nursing workload and patient acuity that resulted in a decline in patient care and nurse turnover. To mitigate the issue of patient acuity, a point system model can be utilized to allow for proper distribution of nurses, and reducing nurses’ workload. On the other hand, the manager should create a leadership framework that is founded on proper communication, openness and trust. Also, the manager should foster an environment that allows staff to participate in initiatives that are aimed at improving the quality of care given and in turn this will promote a structure that aligned to the hospital vision and