Budgeting & Problem Solving
After reading Chapter 19: Managing Costs and Budgets and the following online articles, watch this interview with a nurse manager about budgets and budgeting.
InterviewBudget_KellyEdmondson
Christman, E. & Ernstmeyer (Eds) (n.d.). Nursing management and professional concepts. Chippewa Valley Technical College. Creative Commons Attribution 4.0. https://wtcs.pressbooks.pub/nursingmpc/Links to an external site.
Clipboard Health. (2020, June 1). How to develop a nursing unit budget. https://nursingcecentral.com/how-to-formulate-a-nursing-budget/Links to an external site.
Approved Resources to Use in Writing Discussion Posts:
· The course textbook,
· any published peer-reviewed full-text article from the CINAHL database
Prepare a minimum of a 200-word response using the instructions and the scoring rubric.
Make sure you review the information from the rubric and grading information. Write your post in your own words and do NOT use direct quotations. APA Format is required to support citations and references.
· Case Study B
In Table 1 is a 20-bed nursing unit expense budget for June 2013. The average census in June 2013 was the same as budgeted (18 patients/day average). The columns show the budget for June, the actual expenses for June and the variance (the difference between the expected and actual budget expenses). In the last two columns, you see the expenses YTD (year to date; Jan – June) for the current year and the final column shows the YTD expenses (Jan – Jun) for the prior year.
Please note that the numbers provided are in the “thousands”. Example: Productive budget or June is actually $200,000 (not $200).
1. Study the columns and rows in this budget report.
2. Identify where the unit is over budget or under budget.
3. As the nurse manager, brainstorm how to explain this budget variance and write your answer as you would present to the Chief Nursing Officer.
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