I’m studying for my Nursing class and need an explanation.
Please reply to the following discussion 100 words 1 reference each
#1 Shannon Del Orbe Been
A nurse administrator is responsible in knowing and understanding the different types and budgets within the healthcare organization: operating, capital expenditure, and cash. The operating budget is the main budget the administrator maintains an active role in for the healthcare organization by controlling personnel and supply costs. Collaboration with the nursing staff on the unit as well as other. Each nursing unit is considered a cost center within the organization, with its own specific budget for personnel and supplies.
The personnel budget, being the largest part of the operating budget, consists of multiple factors such as the average daily census, patient acuity, personnel required relating to full-time equivalents (FTEs), as well as productive and non-productive hours (2020). The supplies include medical and office supplies, minor equipment, orientation and training, and travel expenses. Although budgets are based on assumptions, using the previous year’s expenses for personnel and supplies, helps the nurse manager/leader to accurately predict the next year’s budget. Lastly, the revenue budget is the final component of the operating budget which projects the income the organization will receive for providing care. Although they may not be involved in developing the revenue budget, having knowledge about it is essential for great decision-making.
For nurse administrators the CMI tool is very effective for analyzing area hospital performance at a similar acuity level for medical and surgical care. One critical component of documentation in a hospital’s surgical areas is the detail surrounding medical devices used in each case. If a simple medical device goes undocumented, it can jeopardize that procedure’s severity, and can also jeopardize the entire hospital’s CMI and reimbursement rate down the line. Pre-billed audits ensure the acuity is also captured in final coding (Faye, 2019). Both are standard elements of the CDI process and program interventions. The DRG for a patient admission that does not meet medical necessity, indicates the patient’s care could have been provided on an outpatient basis. It could also have a critical impact on the CMI. Nurse administrators must ensure their budgets are accounted for with minimal errors. Any missed opportunity to increase a case’s severity level is a missed opportunity for revenue not only in that procedure, but across the entire hospital, because each individual case affects the hospital’s CMI.
Faye, S. P. (2019). Technical Efficiency of Public Hospitals: A Data Envelopment Analysis with an Estimated Case Mix Index. SSRN Electronic Journal. doi:10.2139/ssrn.2163151
Nurse Administrator. (2020). Journal For Healthcare Quality. doi:10.32388/8ijpt6
The American Association of Colleges of Nursing (AACN) Homepage. (n.d.). Retrieved from https://www.aacnnursing.org/
#2 Stephanie Mortimer-Wallace
Nurse administrator play a pivotal role in controlling cost as they are largely responsible for managing staff, financial resource management, and business management in addition to their responsibilities in coordinating and supervising the delivery of healthcare on their units. However, first and foremost, nurse administrators must focus on providing high-quality patient care and focus on ensuring revenue is not lost. Healthcare organizations need to be cost-conscious and look for ways to save money without sacrificing patient care. It is possible to save money in the clinical setting and provide cost-conscious care without compromising any negative effects on nursing care (Brown & Hansmann, 2018).
Case Mix Index is an important performance indicator for nurse administrators not because it tells a big story in and of itself, but because of how it impacts the unit finances. The CMI is a good tool for nurse administrators to compare unit performance at a similar acuity level for medical and surgical care. Units with much lower CMI can be direct reflection on missed documentation and lower acuity weighted diagnostic codes. It can also be a useful tool to help identify how missed opportunity to increase a case’s severity level is a missed opportunity for revenue not only in that particular procedure, but across the entire organization, because each patient care case affects the hospital’s CMI (Dunham-Taylor & Pinczuk, 2015).
The last 14 weeks have been some-what challenging however, I was able to meet the course objectives by guiding me to make the right financial decisions in healthcare finance. This course has also guided me in understanding the financial environments of healthcarewithin which these decisions operate. Financial management has equipped with the tool that I will need to be able to analyze these financial information’s and to predict likely future results and to plan more carefully their proposed course of action on my nursing care unit has certainly been a fantastic 14 weeks.
Brown, B, & Hansmann, J. Five Solutions to Controlling Healthcare’s Cost Problem. Retrieved from https://www.healthcatalyst.com/healthcare-cost-problem-how-to-control-it
Dunham-Taylor, J., & Pinczuk, J. Z. (2015). Financial management for nurse managers: merging the heart with the dollar. Burlington, MA: Jones & Bartlett Learning.
#3 Stephanie Mortimer-Wallace
The world is changing at a rapid speed because of technology, and it is very evident in healthcare. There are many emerging technologies that will cause a change in the way nurses practice and these changes are evident today. Electronic Health records and computerized order entries from physicians and providers and clinical decision support all parts of this emerging technology. Electronic Health Records is a unique powerful solution that will simplify nursing workflow as well as improve the delivery of healthcare. It has also provided up-to-date information that is accurate about patients wherever they present for care within a particular healthcare organization. However, one of the drawbacks of the Electronic Health Records is the systems do not talk to each other, which is a disadvantage to patients because if they have a consultation with a physician outside of the organization the information is not readily accessible to the patient or the physician (Silow-Carroll, Edwards, & Rodin (2012).
Another emerging technology in nursing informatics is the mobile communication systems which allows for better quality care and is highly used for better staff communication and coordination. Using these mobile communication systems such as smart phones allow nurses and physicians to communicate with patients in real-time on a two-way in-house system which ultimately decrease the interruption of conversations between patients and care givers. This new technology improves the patient’s overall satisfaction and their overall level of care they receive (Schmitz, J. (2020). However, the drawback for the use of this type of technology is patient information getting into the wrong hands through hacking of computerized systems. That is why it is of vital importance for all organizations that use these types of technology have the proper privacy laws in place to safeguard patient healthcare information.
Silow-Carroll, S., Edwards, J. N., & Rodin, D. (2012). Using electronic health records to improve quality and efficiency: the experiences of leading hospitals. Issue brief (Commonwealth Fund), 17, 1–40.
Schmitz, J. (2020) Employing Mobile Devices to Improve Healthcare Communications and the Quality of Patient Care. Retrieved from https://www.forbes.com/sites/forbescommunicationscouncil/2020/02/03/employing-mobile-devices-to-improve-healthcare-communications-and-the-quality-of-patient-care/#3616bd251a2f
#4 Shannon Del Orbe-Been
Two types of emerging technologies that I find to be very important are nursing education software advancements and healthcare communication systems. Nurse education, like nursing itself, is dynamic in nature, and current technology now allows for online classes and patient simulators (Ackerman et al., 2019). As health care professionals continue to encourage patients to take charge of their own care, nursing education grants nurses the ability to translate patient-gathered data into viable treatment options. Today’s leaders in nursing must be experts in the latest advancement, as well as knowledgeable about emerging innovations. By utilizing these technologies, nurses and healthcare professionals can improve patients’ experiences and help provide the best care possible. An advanced degree and hands-on training in systems and informatics can prepare nurses for leadership positions in nursing administration (Ackerman et al., 2019). Two benefits of education software advancements are it provides an opportunity to learn different ways and boost learning motivations. Setbacks are cost effectiveness as curriculum planning is more expensive and it disconnects from face to face interactions.
Health communication systems are designed to provide better quality of care, staff communication and coordination, and facilities that integrate mobile communication systems report significant improvements in those areas. The biggest benefit from the nursing perspective is that we now have one device for communicating about care, medication administration, and receiving alert. Getting patients involved in their own healthcare is an overarching goal of nurses and tapping into patient-generated data is one very effective way to do that. Patients can gather and record data via smart phones or wearable technology to encourage self-care and promote a greater understanding of their own health (Fieschi, 2018). The types of data that can be collected include blood pressure, exercise habits, blood sugar levels, and food intake. Adding patient-generated lifestyle and self-care data to nurses’ diagnostic toolkit can result in more accurate treatment plans and shorter recovery times. Patient-generated information also helps reduce incidents of readmission by offering current patient’s tools for better self-care; addressing patients with chronic conditions to help them manage ongoing care at home; and engaging healthy patients by promoting fitness and preventive behaviors Disadvantages of telecommunication relates to breach of privacy and delay in care response. Improving these areas increases nurses’ productivity, allowing them to provide better-quality care for more patients.
Ackerman, M., Malloch, K., Wade, D., Porter-O’grady, T., Weberg, D., Zurmehly, J., & Raderstorf, T. (2019). The Master in Healthcare Innovation: A New Paradigm in Healthcare Leadership Development. Nurse Leader, 17(1), 49-53. doi:10.1016/j.mnl.2018.09.010
Fieschi, M. (2018). Managing and Integrating Telemedicine and Telehealth. Health Data Processing, 153-167. doi:10.1016/b978-1-78548-287-8.50012-2
The American Association of Colleges of Nursing (AACN) Homepage. (2020). Retrieved June 25, 2020, from http://www.aacnnursing.org/