NUR-621: Principles of Health Care Financial Management

NUR-621: Principles of Health Care Financial Management

NUR-621: Principles of Health Care Financial Management

NUR-621 Economic Theories and Models in Health Care

The purpose of this assignment is to describe economic theories and models in health care. Include your responses in the worksheet listed below and base your responses on evidence. Include references to your textbook and one scholarly article. The four theories/models are listed below.

 

Theories/Models

Description/Definition

Example Related to Health Care

Components

1. Efficiency

Efficiency in resource use (getting the most out of limited resources) is a goal that every health-care organization can accept, regardless of one’s perspective (e.g., that of society, insurers, hospital administrators, or patients). Economic analysis is fundamentally about resource use and can serve an important role in health-care decision-making. Applying economic thinking to health care presents challenges to researchers and will require new approaches to analysis. Measuring the productive process in hospital care is complicated by the fact that the patient is both an input and an output in the process (i.e., the patient’s health is a function of factors determined outside the hospital, such as lifestyle and genetics). Precise and accurate information from hospital epidemiology is critical to understanding the resources needed, and thus the economic impact, of caring for hospitalized patients.

 

 

2. Supply and Demand

The relationship between the quantity of a commodity that producers wish to sell at various prices and the quantity that consumers wish to buy (“Supply and demand | Definition, Example, & Graph,” n.d.).

 

 

3. Economies of Scale

 

 

 

 

4. Market Failure

 

 

 

 

Ouliaris, S. (2011). What Are Economic Models? ProQuest, 48(2), 46–47. Retrieved from https://lopes.idm.oclc.org/login?url=https://search-proquest-com.lopes.idm.oclc.org/docview/872364973?accountid=7374

supply and demand | Definition, Example, & Graph. (n.d.). Retrieved July 28, 2020, from https://www.britannica.com/topic/supply-and-demand

NUR 621 GCU Health Care Staffing Matrix Worksheet

Assessment Description

The purpose of this assignment is to prepare students to make staffing decisions based on sound financial management principles and compliance guidelines.

Scenario: You are the nurse leader of a 30-bed medical surgical unit and have to account for all staffing, including any discrepancies. Using sound financial management principles, complete the “NUR-621 Topic 8: Staffing Matrix” in the provided excel template.

After completing the matrix, compose an 1,000-1,250-word reflection answering the following questions:

  1. Why is it important to use a staffing matrix in your health care setting?
  2. Briefly describe your staffing matrix. How many FTEs (full-time equivalent) on the staffing roster are required to cover daily needs? What units of services or work measurement did you use and why? What financial management principles did you use to determine your staffing matrix?
  3. Explain how you adjusted your staffing based on changes in the patient census.
  4. You receive your financial report for the month. You have used more FTEs than what was budgeted for your census. How will you make up the variance? How would you reallocate resources to make up for the variance and still comply with guidelines?

Include two to four peer-reviewed references in your essay, including the textbook.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. A link to the LopesWrite technical support articles is located in Class Resources if you need assistance.

NUR-621 E9

The purpose of this assignment is to prepare students to make staffing decisions based on sound financial management principles and compliance guidelines.

Scenario: You are the nurse leader of a 30-bed medical surgical unit and have to account for all staffing, including any discrepancies. Using sound financial management principles, complete the “NUR-621 Topic 8: Staffing Matrix” in the provided excel template.

After completing the matrix, compose an 1,000-1,250-word reflection answering the following questions:

  1. Why is it important to use a staffing matrix in your health care setting?
  2. Briefly describe your staffing matrix. How many FTEs (full-time equivalent) on the staffing roster are required to cover daily needs? What units of services or work measurement did you use and why? What financial management principles did you use to determine your staffing matrix?
  3. Explain how you adjusted your staffing based on changes in the patient census.
  4. You receive your financial report for the month. You have used more FTEs than what was budgeted for your census. How will you make up the variance? How would you reallocate resources to make up for the variance and still comply with guidelines?

Include two to four peer-reviewed references in your essay, including the textbook. 

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required. 

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance.

NUR-621 Topic 8: Staffing Matrix
Census 30 29 28 27 26 25 24
Direct Caregivers Scheduled Hours Shift Length Number of Staff
Day Shift
RN
NA
Health Unit Coordinator
Night Shift
RN
NA
Health Unit Coordinator

NUR 621 Principles of Health Care Financial Management, Assignemnt, Discussion – Complete

NUR 621 Week 1 Assignment, Operational Budget Presentation
NUR 621 Topic 1 DQ 1 and 2

NUR 621 Week 2 Assignment, Health Care Reimbursement Training Plan
NUR 621 Week 2 Assignment, Economic Theories, and Models in Health Care
NUR 621 Topic 2 DQ 1 and 2

NUR 621 Week 3 Assignment, Delivery Models Essay
NUR 621 Topic 3 DQ 1 and 2

NUR 621 Week 4 Assignment, Implementing Meaning Use
NUR 621 Topic 4 DQ 1 and 2

NUR 621 Week 5 Assignment, Quality Improvement in Nursing
NUR 621 Topic 5 DQ 1 and 2

NUR 621 Week 6 Assignment, Value-Based Purchasing Presentation
NUR 621 Topic 6 DQ 1 and 2

NUR 621 Week 7 Assignment, Staffing Models Presentation 2
NUR 621 Week 7 Assignment, Staffing Models Presentation 1
NUR 621 Topic 7 DQ 1 and 2

NUR 621 Week 8 Assignment, Staffing Matrix, and Reflection
NUR 621 Topic 8 DQ 1 and 2

ADDITIONAL INSTRUCTIONS FOR THE CLASS

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  • Discussion Questions (DQ)

Initial responses to the DQ should address all components of the questions asked, including a minimum of one scholarly source, and be at least 250 words. Successful responses are substantive (i.e., add something new to the discussion, engage others in the discussion, well-developed idea) and include at least one scholarly source. One or two-sentence responses, simple statements of agreement or “good post,” and responses that are off-topic will not count as substantive. Substantive responses should be at least 150 words. I encourage you to incorporate the readings from the week (as applicable) into your responses.

  • Weekly Participation

Your initial responses to the mandatory DQ do not count toward participation and are graded separately. In addition to the DQ responses, you must post at least one reply to peers (or me) on three separate days, for a total of three replies. Participation posts do not require a scholarly source/citation (unless you cite someone else’s work). Part of your weekly participation includes viewing the weekly announcement and attesting to watching it in the comments. These announcements are made to ensure you understand everything that is due during the week.

  • APA Format and Writing Quality

Familiarize yourself with the APA format and practice using it correctly. It is used for most writing assignments for your degree. Visit the Writing Center in the Student Success Center, under the Resources tab in Loud-cloud for APA paper templates, citation examples, tips, etc. Points will be deducted for poor use of APA format or absence of APA format (if required). Cite all sources of information! When in doubt, cite the source. Paraphrasing also requires a citation. I highly recommend using the APA Publication Manual, 6th edition.

  • Use of Direct Quotes

I discourage over-utilization of direct quotes in DQs and assignments at the Master’s level and deduct points accordingly. As Masters’ level students, it is important that you be able to critically analyze and interpret information from journal articles and other resources. Simply restating someone else’s words does not demonstrate an understanding of the content or critical analysis of the content. It is best to paraphrase content and cite your source. NUR-621: Principles of Health Care Financial Management

  • LopesWrite Policy

For assignments that need to be submitted to Lopes Write, please be sure you have received your report and Similarity Index (SI) percentage BEFORE you do a “final submit” to me. Once you have received your report, please review it. This report will show you grammatical, punctuation, and spelling errors that can easily be fixed. Take the extra few minutes to review instead of getting counted off for these mistakes. Review your similarities. Did you forget to cite something? Did you not paraphrase well enough? Is your paper made up of someone else’s thoughts more than your own? Visit the Writing Center in the Student Success Center, under the Resources tab in Loud-cloud for tips on improving your paper and SI score.

  • Late Policy

The university’s policy on late assignments is a 10% penalty PER DAY LATE. This also applies to late DQ replies. Please communicate with me if you anticipate having to submit an assignment late. I am happy to be flexible, with advance notice. We may be able to work out an extension based on extenuating circumstances. If you do not communicate with me before submitting an assignment late, the GCU late policy will be in effect. I do not accept assignments that are two or more weeks late unless we have worked out an extension. As per policy, no assignments are accepted after the last day of class. Any assignment submitted after midnight on the last day of class will not be accepted for grading.

  • Communication

Communication is so very important. There are multiple ways to communicate with me: Questions to Instructor Forum: This is a great place to ask course content or assignment questions. If you have a question, there is a good chance one of your peers does as well. This is a public forum for the class. Individual Forum: This is a private forum to ask me questions or send me messages. This will be checked at least once every 24 hours. NUR-621: Principles of Health Care Financial Management

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SCORE A+ WITH HELP FROM OUR PROFESSIONAL WRITERS NUR-621: Principles of Health Care Financial Management

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