NR533 Week 1 Discussion 1 & 2
Week 1: Budgeting Concepts
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Motivating employees of a healthcare organization is important for the success of the organization. If employees are not motivated to support the budget, it will typically not be successful. As the nurse leader, discuss two strategies to increase employee motivation related to the budget process.
Week 1: Budgeting Preparation
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The largest element of a nursing unit’s operating budget is usually labor. As the nurse leader of her unit, Debbie is preparing her initial annual budget. Describe two factors she should consider when deciding whether to increase or decrease the current number of full-time equivalents (FTEs) on her unit for the next fiscal year.
NR533 Week 2 Discussion 1 & 2
Week 2: Healthcare Costs and Prices
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Discuss one difference between the types of cost information needed for external reporting and the information useful to the manager.
Week 2: Forecasting
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Debbie meets with her supervisor to discuss forecasting. Discuss one reason why Debbie should support forecasting. Explain your rationale.
NR533 Week 3 Discussion 1 & 2
Week 3: Causes of Variances
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Debbie is reviewing her monthly financial data. Discuss one potential variance that may occur in Debbie’s budget.
Week 3: Interpretation of Variances
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Examine the differences between an original budget and a flexible budget. Discuss the purpose of both types of budgets.
NR533 Week 4 Discussion 1 & 2
Week 4: Marketing Plans
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Discuss the influence your marketing plan can have on your operating budget.
Week 4: Incentives and Economic Implications
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Debbie and her supervisor are having some preliminary budget discussions. The use of incentives is mentioned. Discuss the purpose of using incentives in Debbie’s operating budget.
NR533 Week 5 Discussion 1 & 2
Week 5: Pro Formas
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Debbie and her supervisor have moved to the topic of pro formas. Discuss the purpose of pro forma statements and how they may benefit Debbie.
Week 5: Budgeting Process
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Describe the budgeting process and the role of the nurse leader.
NR533 Week 6 Discussion 1 & 2
Week 6: Long-term Financing
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After reading this week’s article by Niemand, discuss the benefits of developing a business plan to secure long-term financing in a healthcare organization.
Week 6: Financial Risk
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Sources of financing for SLMC have changed over time. Historically, many donors provided financial assistance to the organization. Discuss concerns Debbie may have in preparing her annual budget, if your organization has historically been funded by philanthropy.
NR533 Week 7 Discussion 1 & 2
Week 7: Business Plan
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Discuss the purpose of a business plan.
Week 7: Development of a Business Plan
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Discuss the influence of the mission of SLMC in the development of the business plan that Debbie must develop.
NR533 Week 8 Discussion 1 & 2
Week 8: Business Plan Assignment
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Upload your Business Plan Assignment from Week 7 into this discussion. Please provide insights and constructive feedback to your peers regarding their Business Plan Assignment.
Week 8: Reflection
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What specific knowledge of financial management in healthcare organizations, that you gained through this experience, will be most important as you take on your future nurse-executive role?