Financial Management in Healthcare

Touchpoint Reflection: Reimbursement Issues Guidelines for Touchpoint Reflections A downloadable version of the guidelines, which includes further information, is available for access in the week 1 discussion thread.  Reflection Information EXPERIENCE 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. Describe your prior experiences with financial and budgeting principles, whether personally or professionally. Include your current involvement in budgeting at your institution. TO HELP WITH THE DISCUSSION POST: I’VE BEEN A NURSE MANAGER FOR 3 YEARS. PRIOR TO NURSE MANAGEMENT I HAD NO EXPERIENCE WITH BUDGETING BEDSIDE PERSONAL BUDGETING. NOW I DEAL WITH BUDGETING EVERYDAY TO ENSURE MY UNIT IS PRODUCTIVE I.E NOT OVER STAFFING, NOT ORDERING UNNECESSARY SUPPLIES FOR THE UNIT.

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REFLECTION 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? Reflect on at least two specific concepts.  How have these new revelations influenced your thinking related to access, availability, and quality of healthcare?

IMPLICATIONS FOR THE FUTURE How has your enhanced knowing affected the way you view your proposed project?  In course NUR 505 Advanced Research Methods I developed my PICOT question. My PICOT question goes as follow: In the healthcare organization what are the effects of developing and mentoring one group of nurse leaders vs no mentorship in the second group, after 8 weeks, survey the two groups of nurse leaders and evaluate their confidence and readiness as a leader.** What areas of additional financial or budgeting data gathering have you identified as a need for your plan?

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