Week 6: Assignment: Budget and
Financial Indicators
Start Assignment
Due Dec 5 by 11:59pm
Purpose
The purpose of this assignment is to provide you with the opportunity to analyze
financial indicators to ensure high-quality and cost-effective patient care and to develop
a budget for the DNP Project.
Course Outcomes
This assignment enables the student to meet the following course outcomes:
CO 1: Examine the role of the DNP-prepared nurse in leading financial planning
and management across healthcare settings. (POs 2, 4, 9)
Due Date(s)
Submit your assignment by 11:59 p.m. MT Sunday at the end of Week 6. The late
assignment policy applies to this assignment.
Total points possible: 100
Page Requirement:
Length 2-3 pages - excluding title page and references.
Instructions
There are two parts to this assignment.
1. Respond to only one of the two scenarios presented. As background to this
assignment, please refer to Chapter 3 in the Waxman text.
2. Create a budget for your DNP Project. Utilize the following budget template to
assist you with budget development.
o Link (Word doc): Budget Template (Links to an external site.)
Part 1: Select one of the following scenarios to
discuss.
This study source was downloaded by 100000838234991 from CourseHero.com on 07-21-2022 09:06:24 GMT -05:00
https://www.coursehero.com/file/111684279/NR711-Week-6-Assignemnt-docx/
, Scenario Option: RN Overtime Hours and Costs
As discussed in Scenario Three in Chapter 3 (The True Cost of a Productive Nursing
Hour) in the Waxman text, the chief nursing officer (CNO) of Pacific Hospital realizes
that overtime hours and associated costs are excessive. The budget target is to reduce
weekly overtime hours per full-time RN from 6.5 to 4.0 hours.
a. Present evidence-based approaches (cited) to propose strategies to reduce
overtime at Pacific Hospital. Strategies may include substitutes for overtime,
interventions such as rapid response teams to quickly address patient
complications, or other ideas.
b. Prepare a table using data that you make up (fictitious) showing your analysis of
reduction in overtime hours and related cost savings over a six-month period.
Table: RN Productive and Overtime Budget Analysis for Medical-
Surgical Units
Item Budget Actual Variance
Available beds 80
Occupancy rate 80%
Patient days 23,296
HPPD 8
RN productive hours 186,368.0
RN productive FTE 93.2
RN overtime hours 372.7
RN productive hour expense $13,968,282
RN overtime expense $41,906.71
This study source was downloaded by 100000838234991 from CourseHero.com on 07-21-2022 09:06:24 GMT -05:00
https://www.coursehero.com/file/111684279/NR711-Week-6-Assignemnt-docx/
Financial Indicators
Start Assignment
Due Dec 5 by 11:59pm
Purpose
The purpose of this assignment is to provide you with the opportunity to analyze
financial indicators to ensure high-quality and cost-effective patient care and to develop
a budget for the DNP Project.
Course Outcomes
This assignment enables the student to meet the following course outcomes:
CO 1: Examine the role of the DNP-prepared nurse in leading financial planning
and management across healthcare settings. (POs 2, 4, 9)
Due Date(s)
Submit your assignment by 11:59 p.m. MT Sunday at the end of Week 6. The late
assignment policy applies to this assignment.
Total points possible: 100
Page Requirement:
Length 2-3 pages - excluding title page and references.
Instructions
There are two parts to this assignment.
1. Respond to only one of the two scenarios presented. As background to this
assignment, please refer to Chapter 3 in the Waxman text.
2. Create a budget for your DNP Project. Utilize the following budget template to
assist you with budget development.
o Link (Word doc): Budget Template (Links to an external site.)
Part 1: Select one of the following scenarios to
discuss.
This study source was downloaded by 100000838234991 from CourseHero.com on 07-21-2022 09:06:24 GMT -05:00
https://www.coursehero.com/file/111684279/NR711-Week-6-Assignemnt-docx/
, Scenario Option: RN Overtime Hours and Costs
As discussed in Scenario Three in Chapter 3 (The True Cost of a Productive Nursing
Hour) in the Waxman text, the chief nursing officer (CNO) of Pacific Hospital realizes
that overtime hours and associated costs are excessive. The budget target is to reduce
weekly overtime hours per full-time RN from 6.5 to 4.0 hours.
a. Present evidence-based approaches (cited) to propose strategies to reduce
overtime at Pacific Hospital. Strategies may include substitutes for overtime,
interventions such as rapid response teams to quickly address patient
complications, or other ideas.
b. Prepare a table using data that you make up (fictitious) showing your analysis of
reduction in overtime hours and related cost savings over a six-month period.
Table: RN Productive and Overtime Budget Analysis for Medical-
Surgical Units
Item Budget Actual Variance
Available beds 80
Occupancy rate 80%
Patient days 23,296
HPPD 8
RN productive hours 186,368.0
RN productive FTE 93.2
RN overtime hours 372.7
RN productive hour expense $13,968,282
RN overtime expense $41,906.71
This study source was downloaded by 100000838234991 from CourseHero.com on 07-21-2022 09:06:24 GMT -05:00
https://www.coursehero.com/file/111684279/NR711-Week-6-Assignemnt-docx/
