Reference no: EM133503737
Questions:
1. What are the 3 major components of a budget? Give examples of each one from a hospital or healthcare setting.
2. Which is most important - Gross revenue or Net revenue? Why? What is an operating margin? Look up 3 hospitals in the Twin Cities and report to the group their operating margin. Hypothesize why that might vary from hospital to hospital.
3. Think in-depth about what capital acquisitions might be (provide specific examples) and how capital acquisitions can make organizations profits.
4. What is a responsibility center? Distinguish between revenue and cost centers giving multiple examples of each from a hospital or healthcare organization.
5. Nurse managers need to take care that their budgets remain healthy. Putting yourself in the role of a new nurse manager, what are some examples of things you might note indicating your budget is dysfunctional?
6. Describe how a high patient mix/case mix could be beneficial for a hospital? How could it be detrimental? If you could come up with an ideal financial scenario for a hospital or hospital unit, what would your patient mix/case mix and payer mix look like?
7. What is the difference between direct and indirect patient care expenses? Why are indirect patient care expenses important? Provide specific examples.
8. What is the biggest cost center in any hospital? What is the largest part of a nurse manager's budget? What does that tell you about an ideal relationship between the CNO (Chief Nursing Officer) and the CFO? What does that tell you about ideal relationships between the CNO, nurse managers, and staff nurses?
9. Rundio notes that the cost of providing benefits to an employee is usually 25-30% of a base salary. (The average is 32%). Why does a nurse manager need to account for benefit time? How does this impact the budget?
10. Discuss how you can apply strengths-based nursing and trauma-informed care to clients who have experienced or are experiencing sex trafficking or sexual assault.
11. What are some steps you can take in your community to be alert to those who are vulnerable in these areas? strengths-based nursing, sex trafficking, intimate partner violence, and trauma-informed care.
12. Going forward, how can you as a future nurse be aware of some of the red flags presented by these clients?