Last updated: September 25, 2019
Topic: CareersNursing
Sample donated:

Learn to Speak

It is necessary to admit that before preparing any budget, it is necessary to know the volume base because preparation is claimed to be one of the most important steps in budgeting process. Mostly people belong to recreational nature and, thus, little attention is paid to budget requirements. The life of nurse leader is strongly affected by budgeting life meaning that leaders should consider time management, expenses management and department function. Further, leader should be able to master financial jargon to understand better financial and accounting field. Finance department mustn’t be allowed to drive the budgeting process by their own because nurse leaders have the most insight.

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In order to develop budget it is necessary to consider patient days, average daily census, patient acuity, length of stay and, finally, case mix index. Leaders should re-ascertain that financial department is in agreement with budgeted average daily census. If it is necessary to develop budgets for procedure-based and ambulatory units, it is required to pay attention to specific cases, births and procedures meaning to realize “who and where competition is and plan accordingly”. Critical care budgets include additional orientation hours, for example. Nurse leaders are able to build credibility among finance department and human resources if they execute orientation plans in time.

It is known that salary expenses are driven by the model of care varying nationwide. The primary factors are nurse-to-patient ration and, actually, number of unlicensed personnel. Thus, nurse leaders should think critically how to reduce expenses and how to ensure job-class development. Nurse leaders should be cost-effective everyday. For example, orientation would increase salary and decrease costs. Utilizing in-house resource is helpful in developing accurate non-salary budgets. Summing up nurse leaders have to understand and execute the plan in order to build credibility among nurses and to arrange efficient work of key administrative and financial departments.

References

Foley, Regina. (August 2005). Learn to Speak. Nursing Management. 28-35.