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Nursing Management ( budgeting )

Nursing Management ( budgeting )

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Published by prokuno
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Published by: prokuno on Oct 29, 2008
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05/09/2014

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Budgeting- JULY 16, 2008-07-17
Management
Plan that expresses the activities of an agency in terms of pesos covering a specific period of time
Plan for allocation of resources and a control for ensuringthat results comply with the plans
A plan or schedule adjusting expenses during a certainperiod to the estimate or fix income for the period
An operational management plan stated in terms of incomeand expensesPreparing the budget
Nursing budget- a plan for allocation of resources basedpreconceived needs for a proposed series of programs todeliver patient care during one fiscal year
Hospital budget- is a financial plan to meet future serviceexpectationsPre Requisites for budgeting
Sound organizational structure with clear lines of authorityand responsibility is needed
Nonmonetary statistical data- such as number admission,average length of stay, percentage of occupancy andnumber of patient days- are used for planning and control of the budgetary process
Chart of accounts are designed to be consistent with theorganization plan
Management support is essential for a budgetary program
Formal budgeting policies and procedures should beavailable in the budget manualApplied Economics
Economic goods
o
 These are goods or services purchased by consumersfrom supplies to provide a benefit to the consumers
Income
o
Additional resources gained over time
Utility
o
It is the benefit consumers get from the purchase of goods and services
Marginal Utility
o
It is the additional utility gained by consuming onemore unit
Supply
o
It is the amount of goods or services the suppliersare willing to provide at a given price
Demand
o
It is the amount of goods or services the consumersare willing to buy at that price
Elasticity of Demand
o
It is the degree to which the demand for a good orservice decreases in response to a price increase andincreases in response to price decrease
Cost Factor
o
Cost is a money expended for all resources used
Expenses
o
Cost of providing services to patients also calledOVERHEAD
 
Expense Budgeting
o
 The process of forecasting recording and monitoringthe manpower, materials, and supplies and monetaryneeds of an organization
 Types of Expense or cost fixed
o
 They remain constant as volume increases anddecreases over a period of time
Variable Cost
o
Relate to volume and census
Sunk Cost
o
Fixed expenses that cannot be recovered even if aprogram is cancelled
Direct Cost
o
 The cost of providing and service
Cost Accounting
o
System assigns all cost to cost centers
Procedures of Budgeting
o
Determining the productivity goal
o
Forecast the workload
o
Budget patient care hours
o
Budget patient care hours and staffing schedule
o
Plan non productive hours
o
Chart productive and non productive time
o
Estimate cost of supply and services
o
Anticipate capital expenses
Budget Stages
o
Formulation stage
Usually a set number of months before thestart of fiscal year for the budget
Develop objective and managementplans
Gather all financial, historical, andstatistical data and distribute to cost-center manager
Analyze data
o
Review and Enactment
Prepare unit budget
Present unit budget for approval
Revise and combine into organizationalbudget
Revise and distribute to cost-center
o
Execution Stage
Direct and evaluate expenses and receipts
Revise budget if indicatedHistorical approach to budgeting
Historical approach is the most effective for calculating therelationship between volume of business and variable costwhen a company manufacture a few products and each
 
product contributes a relatively stable percentage to thetotal sales volume
Standard cost- it is develop to predict what labor andsupplies should costBudget Approaches
Zero based budgeting
o
It is a method of budgeting used to control cost
o
 Type of budget no program is take for granted andeach program must be justified each time funds arerequested
Program budgeting
o
It is a part of budget planning
o
Items such as continuing education program,employees benefits fares, health promotion program
Flexible budgeting
o
It determines a range of volume instead an actualvolume which is much more difficult to plan
Purpose of budgeting
o
 To plan the objectives, programs and activities of services and the fiscal resources need to accomplish
o
 To motivate nursing workers through analysis of actual experiences
o
 To serve as standard to evaluate the performance of nurse administrator and manger and to increaseawareness of costChange theoryReddin’s theory
Developed a planned change model that can be used bynurses
Suggested seven techniques by which change can beaccomplished1.Diagnosis- a scientific problem solving2.Mutual objectives- ensures that the goals of both groups,those instituting the change and those affected by arebrought into like3.Group emphasis- team emphasis, change is more successfulwhen supported by team4.Maximum information- important to the success of change5.Discussion of implementation6.Use of ceremony and ritual consider the culture of organization, particularly the use of rewards to reinforce thechange
7.
Interpretation to any resistance to change- the process andsystems which may require revising of the group work andobjectives set for implementationLewin’s Theory
Most widely used change theory
3 stages
o
Unfreezing stage- development through problemawareness of a need for change
Problem is identified and diagnosed and bestsolution is selected

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