financial assessments budget of a nursing unit

Interview with nurse manager, cno and cfo on financial healthcare budgeting on a nursing unit

1. Financial Management of a nursing unit Nana H. Lau, RN, BSN, CDCES Hugo Vega, BSN, FNP CUNY School of Professional Studies NURS 602: Healthcare Finance Dr. Anne Simmons 7/09/24

2. Agenda 2

3. Spinal Cord Unit 3

4. Facility’s Reporting Structure 4

5. Interview Questions 5

6. Interview Answers (NM) What are the challenges in staffing? 6

7. Interview Answers (CNO) How is the budget for the nursing unit developed? 7

8. Interview Answers (CFO) What strategies do you use to increase the hospital’s revenue? 8

9. Challenges 9

10. Strategies 1 of 2 10

11. Strategies 2 of 2 11

12. References Agency for Healthcare Research and Quality (AHRQ) (2018, January 1). Quality indicators. https://www.ahrq.gov/cpi/about/otherwebsites/qualityindicators.ahrq.gov/qualityindicators.html Centers for Medicaid Services (CMS) (2024, January 1). CMS minium staffing long term facilifies and medicaide . https://www.cms.gov/newsroom/fact-sheets/medicare-and-medicaid-programs-minimum-staffing-standards-long-term-care-facilities-and-medicaid-0 John Hopkins Tracking and Improving Nurse-Sensitive Indicators During a Global Pandemic | Johns Hopkins Medicine Laskowski-Jones, Linda MS, APRN, ACNS-BC, CEN, NEA-BC, FAWM, FAAN. Nursing needs R & R: Recruitment and Retention. Nursing 52(12):p 6, December 2022. | DOI: 10.1097/01.NURSE.0000892664.29257.b7 or https://journals.lww.com/nursing/fulltext/2022/12000/nursing_needs_r___r__recruitment_and_retention.1.aspx Leger, M. (2023).  Financial Management for Nurse Managers (5 th  Edition).  Jones & Bartlett Learning. JAMA Network (2023, January 10). Association of Staffing Instability With Quality of Nursing Home Care. https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2800160 Yang, B. K., Carter, M. W., Trinkoff , A. M., & Nelson, H. W. (2021). Nurse Staffing and Skill Mix Patterns in Relation to Resident Care Outcomes in US Nursing Homes. Journal of the American Medical Directors Association , 22 (5), 1081–1087.e1. https://doi.org/10.1016/j.jamda.2020.09.009 or https://pubmed.ncbi.nlm.nih.gov/33132015/ Weech -Maldonado, R., Pradhan, R., Dayama , N., Lord, J., & Gupta, S. (2019). Nursing Home Quality and Financial Performance: Is There a Business Case for Quality?. Inquiry : a journal of medical care organization, provision and financing , 56 , 46958018825191. https://doi.org/10.1177/0046958018825191 or https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6376502/ Bean, M. (2024, April 9). Health-systems-lean-into-nurse-self-scheduling. Beckers Hospital Review. https://www.beckershospitalreview.com/nursing/health-systems-lean-into-nurse-self-scheduling.html Cheryl, D. (2023, May 17). Health Care Consolidation The Changing Landscape of the U.S. Health Care System. https://www.rand.org/content/dam/rand/pubs/testimonies/CTA2700/CTA2770-1/RAND_CTA2770-1.pdf 12