Nr 533 week 4 lesson readings

Nr 533 week 4 lesson readings Week 4: Operational Budgets Prerequisites: Student Attestation, Course Pre-Assessment Required readings: • • Operational Budgets • Introduction • A major responsibility of the nurse manager or nurse executive is managing the operational budget. This week's lesson focuses on applying basic financial principles to develop the operational budget. The two major components of the operational budget, employee and nonemployee expenses, will be explored in depth and applied. In addition, how variances can impact the operational budget will be examined. • Overview • Week 4: Lesson: Two videos: Transcript - Part 1 [18 min:32 sec]; Transcript - Part 2 [Expense Budget/supplies: 7 min:13 sec] 25 min Forecasting: (e.g., rent, office staff, professional development: indirect (laundry overhead cost); salary, rent, volume cost). Budget terms/calculation: Healthcare Systems Financial Environment Introduction How did our healthcare financial system get to where it is today? This week's lesson provides the historical perspective on the current healthcare systems' financial environments. Policy that led to the current payment systems, a look at what might develop in the future, and potential challenges to the system are explored. Overview Week 1—Video: 14 min:25 sec • • Quality, Cost Containment, and Access to Healthcare • Introduction • How are payment systems related to quality, cost containment, and access to healthcare? This week's lesson focuses on the goal of the Triple Aim and how it is impacted by various reimbursement issues within our current healthcare financial systems. • Review: Revenue calculation example! • Overview Week 3: Lesson • Week 3: Financial Management [Video: 17 min. 58 sec] Introduction Every nurse manager needs to be familiar with the basic principles of finance and budgeting related to the healthcare systems and delivery. This week, our lesson helps us move into the explicit elements of financial management. Our focus will be on differentiating among the different types of budgets, their purposes, who controls them, and the nurse executive's role in managing them. Overview • [Video: Week 3—Benchmarking note: Plan, do, study, act (re-evaluate)] • Week 4: Staffing Budgets/FTEs/Variance Analysis Assignment Week 4: Staffing Budgets/FTEs/Variance Analysis Assignment Mar 31 150 pts ## Week 4: Introduction Welcome to Week 4 This week, we turn our attention to the operational budget. Developing and maintaining the operating budget is a crucial responsibility for the nurse manager or executive. As you learn the specific elements contained within this budget type, you will apply basic financial principles to the process of developing key components of the operating budget. Outcomes 2 Weekly Objectives • Apply operational budget principles to development of staffing and supply budgets. (CO 2,3) (ANCC-NE-DOP I. B. 4) • Account for variances in selected operating budgets. (CO 2,3) (ANCC-NE-DOP I. B.6) 3 Weekly Objectives • Apply operational budget principles to development of staffing and supply budgets. (CO 2,3) (ANCC-NE-DOP I. B. 4) • Account for variances in selected operating budgets. (CO 2,3) (ANCC-NE-DOP I. B.6) ## Week 4: Reading • Due Mar 31 by 11:59pm • Points None Requir