NR533 week 3 - September 2018

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NR 533 Week 3: Process of Budget Preparation

After exploration of the types of budgets and the processes for their development at your institution. How and from whom is input into the budgets acquired and used? Where does control of the budget lie? What influence do unit and midlevel managers have on the various kinds of budgets?

NR 533 Week 3 Touchpoint Reflection: Financial and Budgeting Principles

Guidelines for Touchpoint Reflections

A downloadable version of the guidelines, which includes further information, is available for access on the Course Resources page.

Reflection Information


This week's readings contained a great deal of information on financial and budgeting principles. Some of you may have had some familiarity with the concepts and maybe even experience in working with them. However, there is always something new to learn.


What pre-conceived notions related to healthcare financial and budgeting principles did you hold before this week that you understand better now or for which you have a different perspective? How have these new revelations influenced your thinking related to access, availability, and quality of healthcare?


How has your enhanced knowing affected the way you view your proposed project?

What areas of additional financial or budgeting data gathering have you identified as a need for your plan?

NR533 week 3 - September 2018
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organizations     volatility,   and risks     planning       from   focused task     integrated       planning   takes into     whole       Lin,   Kao, 2016)     level       managed   managers and     with       management   addition, the     service       the   results as     a       planning,   planning, annual     forecasting       performance   The unit     managers       insights   budgeting process     usually       budgets   include the     the       preparing   the budget,     gather       and   implement the     analyze       development   operating budget,     and
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What     unit       have   the various     budgets? ReplyReply       "https://chamberlain   com/courses/32190/discussion_topics/736601?module_item_id=3893621" \o     Read"       JirglSep   2018Sep 22     Discussion       lot   week from     classmates       works   their organization     interesting       every   has a     for       They   to range     to       I   the difference     budgets       I   learned the     fixed       Fixed   are things     not       utility   and rent     need       regardless   the patient     costs       patient   such as     staff       A    The Nurse     to        Indianapolis,   Sigma Theta     to       instructure   \o "Mark     Collapse       10,   10 at     EntryHello       manage   operating budget     capital       budget   all full-time     and       revenue   day-in and     (Rundio,       is   must be     implemented       for    "The capital     nurses       are   responsible for     major       (Finkler,   Jones, 2013)     is       old   with newer     equipment       maintain   and continue     effective       and   costs are     the       nurse   when it     the       cost   the unit     are       not   like rent     insurance       are   in by     leaders       costs   change according     need       medical   and these     inputted       leaders   are closer     care       budget   upon the     need       exact   of fixed     a       things   office and     cost       managers   influence over     of       this   because they     it       their   and from collaboration     disciplines       changes,   any, need     made       in   for it     produce       OlfordReferences:Finkler   Kovner CT,     Financial       Managers   Executives 4th                     Saunders;   Rundio A     Manager's       &   2nd Edition     Theta       2016   to Comment     instructure       as   Collapse SubdiscussionRachelle     17,       10:13pmManage   EntryLisa, I     your       definitely   need to     level       level   definitely should     to       understanding   budget preparation     data       use   premium staff     important       preparing   budget Budget     be       The   involved in     budget       time   and based     such       and   variance reports     are       in   organization to     and       budgeting   What resources     add       process   leaders in     look       response   Nurse ReplyReply to     "https://chamberlain       "Mark   Unread" Collapse     OlfordSep       at   Discussion EntryHello     do       that   to deal     but       to   resources they     the       Resources,   the finance     budget       in   faculty meetings     asks       need   help them     It       don't   funds for     our       a   of a     included       and   supervisors about     ago       supervisors   that the     never       when   comes to     students       the   is open     to       and   trainings and     they       to   success, but     see       for   things  A     would       the   for leaders     facility       how   maximize the     that       to   with their     will       provide   with what     will       be   I would     that       for   so that     see       to   and what      Lisa       HYPERLINK   instructure com/courses/32190/discussion_topics/736601?module_item_id=3893621"     as       SuarezJesse   19, 2018Sep     4:31pmManage       classmates,I   the fact     nurse       unit   mid-level nurse     involved       process   time, the     have       on   value and     measures       need   the nursing     leaders       deep   in light     healthcare       such,   nursing leaders     may       manage   annual operating     their       as   the necessary     through       this,   may need     their       cost   medication and     and       as   identifying these     facilitate       cost   patient which     to       resource   and management     Rahahleh,       ReferenceMukherjee,   , Al     ,       (2016)   capital budgeting     healthcare       of    Journal of     58-76       2   4580 4240 ReplyReply     HYPERLINK       \o   as Unread"     WalkerPatricia       16   10:01amManage Discussion     our       I   completed my     for           nurse managers     organization       our   of financial     enter       Axiom   is our             estimate   volume to     beds,       admissions,   look at     month       to   with this     We       our   and supplies     way       is   on our     if       we   flex our             flexible   which is     in       fluctuating   the census     (Ittner           am able     expenses       I   have in     as       pay   I estimate),     overtime       has   closed since     of       a   event we     our       damage   three of     and       not   to be     mid-October       had   go back     end       2017   guide me     my       previous   we would     and       budget   benefit replacement     Unfortunately,       will   be budgeting     benefit       My   includes all     members       their   and salaries,     able       money   they are     sit       and   believe that     be       in     We     a       for   so I     my       of   two team     After       completed,   then will     with       of   and she     adjusts       had   meeting as             manager   have input     unit       is   for completing     deadline,       have   final say             approved   the vice     nursing,       corporate   final approval     cost       more   into the             of   the managers     to       capital   and include             at   organization reviews     requests       exceeds   allowed amount     $3,000,000       make   decision of     to       capital   will be     corporate           the managers     to       items   feel their     but       influence   it is     not       is   it does     the       manager,   must consistently     costs       they   staying within     and       variances   & Schub,     H       T   (2018) Budgeting     Nursing       Comment   "https://chamberlain instructure     "Mark       SubdiscussionKaren   SteachSep 18,     at       am   that you     much       budget   At the     and       input   the personnel     We       in   operating costs     budgets       have   standardized way     our       it   called staffing     into       character   nursing units     needs       by   from the     staff       a   calculators, and     support       patient   we are     our       et   , 2015)     that       input   the budget     think       resources   needed as     be       areas   waste might             and   staff do     any       operating   my staff     to       they   waste is     I       with   logistics department     that           would be     I       care   the problem     to       another   that controls     supplies       I'm   budgeting is     consuming       managers   hate doing     I'm       you   any manager     input       is   and should     to       in   process ReferencesTaylor,     Yankey,       C   Annis, A     K       A   & Sales,     Evaluating       Administration’s   Methodology Model:     Approach        ReplyReply   Comment HYPERLINK     com/courses/32190/discussion_topics/736601?module_item_id=3893621"       Read"   SubdiscussionPatricia WalkerPatricia     2018Sep       Discussion   KarenThank you     to       Hopefully,   the future     will       from   nurses into     as       the   that really     is       for   patients       good       included   the staffing     the       feel   waste is     area           think it     a       have   small committee     to       would   all our     lot       Research   shown that     Francisco       9   in neurosurgery     wasted       This   just one     one       happening   all the     ReferencesAllen,       hospitals   The nation's     tab                   the       A   at all     good                    ProPublica       hospitals   The nation's     tab        sky-high   http://www propublica     to       instructure   \o "Mark     Collapse       21,   21 at     EntryHello       have   budgeting thing     the       of   budgets is     agree       better   anyone what     for       their   and the     supplies       in   to provide     care       reserved   high dollar     last       organizations   2017) I     researching       capital   and I     could've       position   be able     in       requires   to provide     regards       budget   far I     able       things   this class     to       of   financial management     about       process   involves different     executive       the   department and     (Fulton,       know   all of     were       budget   truly thought     was       department   thought that     each       budgets   be and     department       sure   they didn't     their       if   needed more     to       they   ask for     receive       know   any variances     go       and   a committee     all       by   Thanks for     Olford ReplyReply       "https://chamberlain   com/courses/32190/discussion_topics/736601?module_item_id=3893621" \o     Read"       OlfordSep   2018Sep 23     Discussion       my   is below     September       Vs   Budget Leaf     https://bizfluent       an   site Thanks,Lisa     Comment       com/courses/32190/discussion_topics/736601?module_item_id=3893621"   "Mark as     SubdiscussionRachelle       2018Sep   at 8:59pmManage     enjoyed       Lisa   budget process     We       many   and people     ensure       process   successful I     an       had   different group     that       the   budgets (for     capital,       etc   with an     interdepartmental       philosophy   the finance     to       and   The organization     governance       different   So, it     only       Today,   should be     budget       team   numbers however     we       care   not black     It       that   healthcare budgets     for       the   discussion this      Dr       HYPERLINK   instructure com/courses/32190/discussion_topics/736601?module_item_id=3893621"     as       MaradkelBenyta   22, 2018Sep     7:34pmManage       Nurse,   class,I enjoyed     post       you   sharing the     how       is   in your     think       some   and some     my       to   For example,     a       built   and we     request       use   historical budget     reference       following   budget and     your       at   last 6     data       on   fiscal year     preparation       and   finalized by     The       I   is the     middle       influence   the budget     organization,       directors   work on     and       that   to the     the       the   to finalize     love       organization   and directors     the       operations   filling the     the       this   powerful as     hear       they   not clear     to       system   some items     the       are   calculated in     so       in   room definitely     my       also   not have     once       in   requests in     system)       most   the time     of       receive   budget in     and       to   HYPERLINK "https://chamberlain     \o       Collapse   JirglKara JirglSep     16       EntryDiscussion   Week 3Dr     classmates,In       do   a capital     operational       are   on these     manager       into   operating budget     daily       staffing,   equipment (Waxman,     2018)       is   to budget     company       and   all our     screens       be   added cost     budget,       nursing   from performing     The       equipment   will last     few       that   over a     of       Massarweh,   My hospital     to       the   budget My     put       beds   nursery overbed     part       budget   year she     include       bed   her budget     is       budget   begin, the     put       to   letting them     the       is   to be     asked       items   are needed     next       nurse   can review     put       correct   When managers     question       go   the chief     for       manager   to put     budget       perform   screens the     executive       place   in the     even       the   for the     The       budget   in many     nurse       over   they ask     their       financial   has control     out       each   based on     available       at   hospital is     of       the   decision-makers on     approved       Unit   midlevel managers     great       various   of budgets     hospital       of   have the     they       unit   midlevel managers     a       goes   the budget     are       are   every day     unit       equipment,   and staffing     individuals       and   statistics and     what       the   (Gunawan, &     KaraReferencesGunawan,       Aungsuroch,   (2017) Managerial     first-line       concept    International Journal     Practice,       doi:   1111/ijn 12502Waxman,     &       (2018)   the talk:     for       Leader,   101-106 doi:     mnl       to   HYPERLINK "https://chamberlain     \o       Collapse   WalkerPatricia WalkerSep     17       EntryHi   are currently     budget           just completed     last       director   finance operations     are       new   this year     we       a   last year     many       regarding   budget this     I       great   your manager     to       service,   you know     of       to   to the     for       service?    also utilize     budget       $5,000   more       that       that   manager includes     when       submitting   items for     it       example   shared decision     agree       mid-level   have a     on       They   the ones     developing       and   plan for             the   who are     their       the   of the     showing       the   (Mennella &     ReferencesMennella,       Heering,   C (2017)      CINAHL       to   HYPERLINK "https://chamberlain     \o       Collapse   JirglKara JirglSep     19       EntryPatty,When   manager decided     at       for   screens, I     her       I   two companies     quotes       the   representatives from both     see       included   had them     up       me   manager will     of       are   our own     currently       present   receipts from     that       buy   well as     of       on   supplies each     the       she   on the     She       nurse   hours to     submitting       to   state My     present       the   as well     cost       to   the hearing     am       board   approve my     contract       Kara ReplyReply   Comment HYPERLINK     com/courses/32190/discussion_topics/736601?module_item_id=3893621"       Read"   SubdiscussionPatricia WalkerPatricia     2018Sep       Discussion   KaraI think     great       involved   and the     in       What   great learning     it       good   with both     if       clinical     I     team       what   takes when     capital       Comment   "https://chamberlain instructure     "Mark       SubdiscussionTara   GunthnerSep 23,     at       enjoyed   your post     reflects       budgeting   I like     of       come   to do     hearing       the   education, a     can       Like   mentioned, this     up       nurses   attend to     that       of   Looking at     of       to   skill level     great       budget   and align     staff       nursing   specific to     level       to   that your     out       requesting   This reflects     positive       are   important in     process       leadership   will make     become       the   Being left     things       make   feel unimportant,     to       hospital,   have a     that       decision   asking for     our       to   their requests     manner       how   will impact     rendered       patient   or satisfaction     that       type   dialogue because     the       the   The nurse     to       communicate   benefits and     aligns       Otherwise,   members may     the       request   to Comment     instructure       as   Collapse SubdiscussionVirginia     16,       9:40pmManage   EntryDr Nurse     exploring       the   the different     budgets,       at   facility, GHVHCS,     on       that   chosen by     Executive       Board   Trustees It     belief       presently   from a     two       summation   a brand     of       the   to be     New       twenty   The zero-based     established       historical   into account     were       assessment   the community     counties       in   This type     forces       every   and reimbursement     budget       the   in which     the       make   adjustment requests,     these       to   service line     who       Nurse   She reviews     and       on   delete the     her       submitted   the Chief     The       budget   my facility     the       to   Board of     CEO       and   review presents     the       for   approval The     has       what   adjustments may     but       be   by the     Officer       The   managers need     an       the   process and     to       from   expenses (Marquis, 2017)     managers       the   operations and     the       unit   gives the     ability       census   as well     monitor       The   budget expense     facility       amount   five thousand     fiscal       first   ends September     requests       items   now taking     of       items   by the     new       capital   is over     million       spread   over three     process       like   massive undertaking,     can       the   is crying     staff       is   an easy     look       more   B L     Roles       in    China: Wolters     Rundio,       Nurse   Guide to     Finance       Theta   International    ReplyReply     HYPERLINK       \o   as Unread"     NurseRachelle       17   10:19pmManage Discussion     enjoyed       Thanks   sharing your     using       Historical   can be     tool       however   time we     budget       programs   my experience,     and       major   on budget     is       that   made For     worked       that   planning on     on       make   for 2     obstetric       on   preparation for     was