the Chief Nurse Officer (CNO) is charged with preparing the annual nursing division budget. She is concerned that the nurse managers and clinical nurse specialists don’t really understand th
the Chief Nurse Officer (CNO) is charged with preparing the annual nursing division budget. She is concerned that the nurse managers and clinical nurse specialists don’t really understand the components of the budgetary process. She starts doing research on what she can do to improve the managers’ understanding of hospital finances and budget process (Waxman & Massarweh, 2018). Because of this concern, she develops a plan that requires all of nursing leadership to participate in the following three interventions Monthly one-on-one meetings. New managers and the budget analysts will meet monthly to review essential finance reports for specific units. Monthly meetings will include discussion of the implications of various budget reports, where to find the reports, how to read and interpret the data, how to prioritize data, and where to go with questions. Monthly collaborative presentations at nursing leadership meetings on topics related to budget principles. As part of this plan, the CNO has called a meeting with the nurse managers and masters prepared nurses in leadership roles to review last year’s budget to prepare for the new budget. You will be attending this meeting and asked to actively participate. You need to come prepared to this meeting.
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