NURS FPX 6216 Assessment 3 Budget Negotiations and Communication

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Assessment 3: Budget Negotiations and Communication
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Student Name
Capella University
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Prof Name
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Nov 10, 2023
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Budget Negotiations and Communication
The management of an operating budget is a critical aspect of business acquisition, particularly
in the context of nursing leadership. The nursing leader bears the responsibility of preparing and
managing the budget, ensuring comprehensive management of all facility aspects. This
assessment focuses on the development and negotiation of a budget for a 35-bed hospital
serving an elderly population with 20 equivalent staff members, many of whom are available for
part-time work. The justification and communication of this budget center on two key aspects:
staff retention and patient-centered care. The budget justification outlines the strategic plan
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designed to enhance fiscal profitability, improve staff productivity, justify equipment and service
costs, and establish connections that contribute to both the budget and organizational goals.
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Strategic Plan for Profitability and Fiscal Success
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The current budget analysis involves a needs assessment that identifies staff retention and
patient-centered care as primary concerns. The strategic goal is to enhance these aspects
through a SWOT analysis, providing a practical evaluation of the organization and its
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environment (Gharachorloo et al., 2021). The plan focuses on prioritizing nursing leader actions
based on identified needs.
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1. The plan initially addresses employee retention strategies, aiming to enhance
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satisfaction by offering appraisals and competitive compensation packages. Motivated
staff, achieved through increased salaries, compensation for overtime, and
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performance-based increments, positively influences clinical outcomes and

patient-centered care (Panda & Sahoo, 2021).
2. Emphasis is placed on patient-centered care through the implementation of an
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integrated system, including patient feedback surveys, fostering a culture of empathy,

and individualized care. Healthcare improvement strategies, such as infection control
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and readmission reduction, contribute to patient-centered care (Kwame & Petrucka,

2021).
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3. Training is addressed to tackle issues related to staff satisfaction and care standards.
Comprehensive training for both new and skilled staff, utilizing cross-functional teams, is
proposed to manage infection rates and patient outcomes effectively.
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Uncertainties in strategic planning for fiscal success, such as market volatility and economic
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conditions, are acknowledged. Additionally, concerns about industry trends, regulatory

compliance changes, and technological advancements are considered.
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Plan for Staff Productivity Goals
Patient-centered care relies on employee productivity to ensure staff members remain motivated
and engaged in collaborative efforts for patient benefit. Strategies for enhancing staff
productivity include:
● Feedback loops: Gathering opinions and feedback from staff to address workload
issues and improve nurse-to-patient ratios.
● Stakeholder Awareness: Communicating changes in working dynamics, such as
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appraisals and revised salaries, and evaluating workload patterns for improvement.
● Monitoring Progress: Continuous evaluation and modification of the plan to ensure
effective results.
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Alternative approaches, such as outsourcing and mandatory overtime, are rejected due to
practicality concerns.
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Justification of Equipment and Service Costs
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Budget allocation for essential utilities and expenses is crucial for successful operations. After
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employee-related expenses, utilities, medical supplies, and medication receive significant
budget allocation. Proper allocation is seen as essential for effective budget management and
achieving patient-centered care (Xi et al., 2023). Maintenance of equipment and services,
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including hygiene management and training expenses, contributes to reducing turnover and
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promoting patient-centered care.
Link Between the Organization’s Mission and the Project

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The project aligns with the organization's mission of providing patient care and inter-professional
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collaboration for the elderly population. The budget is designed to improve patient interactions,
increase satisfaction levels, and reduce turnover through strategic planning. Financial stability is
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recognized as supporting organizational goals, including employee retention, training, and

development, ultimately enhancing patient care effectiveness (Dennis, 2019).
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Conclusion
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The assessment focuses on effective budget management to ensure financial security and
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elevate care standards. Strategic planning guides each step, aligning the budget with
profitability goals. Staff productivity is enhanced through feedback loops and stakeholder
awareness. The budget is intrinsically linked to the organization's mission of providing
patient-centered care.
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References
Dennis, C. (2019). Strategic planning—A health system operational perspective. Journal of
Hospital Management and Health Policy, 3(0). https://doi.org/10.21037/jhmhp.2019.10.03
Edgman-Levitan, S., & Schoenbaum, S. C. (2021). Patient-centered care: Achieving higher

quality by designing care through the patient’s eyes. Israel Journal of Health Policy Research,
10, 21. https://doi.org/10.1186/s13584-021-00459-9
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Gharachorloo, N., Nahr, J. G., & Nozari, H. (2021). Swot analysis in the general organization of
labor, cooperation and social welfare of east Azerbaijan province with a scientific and
technological approach. International Journal of Innovation in Engineering, 1(4), 47–61.
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https://doi.org/10.59615/ijie.1.4.47
Karaferis, D., Aletras, V., Raikou, M., & Niakas, D. (2022). Factors influencing motivation and
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work engagement of healthcare professionals. Materia Socio-Medica, 34(3), 216–224.
https://doi.org/10.5455/msm.2022.34.216-224
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Kwame, A., & Petrucka, P. M. (2021). A literature-based study of patient-centered care and
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communication in nurse-patient interactions: Barriers, facilitators, and the way forward. BMC
Nursing, 20(1), 158. https://doi.org/10.1186/s12912-021-00684-2
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Panda, A., & Sahoo, C. K. (2021). Work–life balance, retention of professionals and
psychological empowerment: An empirical validation. European Journal of Management
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Studies, 26(2/3), 103–123. https://doi.org/10.1108/EJMS-12-2020-0003
Xi, Y., Ding, Y., Cheng, Y., Zhao, J., Zhou, M., & Qin, S. (2023). Evaluation of the medical
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resource allocation: Evidence from China. Healthcare, 11(6), 829.

https://doi.org/10.3390/healthcare11060829
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performance-based increments, positively influences clinical outcomes and

integrated system, including patient feedback surveys, fostering a culture of empathy,

and readmission reduction, contribute to patient-centered care (Kwame & Petrucka,

conditions, are acknowledged. Additionally, concerns about industry trends, regulatory

promoting patient-centered care.

Link Between the Organization’s Mission and the Project

recognized as supporting organizational goals, including employee retention, training, and

Edgman-Levitan, S., & Schoenbaum, S. C. (2021). Patient-centered care: Achieving higher

Studies, 26(2/3), 103–123. https://doi.org/10.1108/EJMS-12-2020-0003

resource allocation: Evidence from China. Healthcare, 11(6), 829.

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