A Practical Guide to Finance and Budgeting: Skills for Nurse Managers

Softbound book: 150 pages + bonus CD-ROM
Size: 11" x 8.5"
ISBN 1601461364
978-1601461360
HCPro / Opus
February 2008
Includes 3 Nursing Contact Hours!
(click button below for the very best currently available price for this important resource)

This book is a comprehensive guide designed specifically to help nurse managers produce, present, and defend their departmental budgets.

Nurses don't go into healthcare because they enjoy number crunching! Shouldering the finance and budgeting responsibilities thrust upon new nurse managers can be mind boggling. This book breaks down the often confusing aspects of healthcare finance. This edition is completely updated to help new managers:

Comprehend the financial side of healthcare through easy-to-understand advice
Eliminate guesswork with straightforward descriptions of each section of important financial forms and reports
Save time with plain English definitions of potentially confusing financial terminology
Secure executive buy-in with concise explanations of how the nursing department’s financial performance affects the entire organization
Handle the new role of manager with quick and helpful field-tested tips and reminders
Prepare budget presentations and build business plans with simple and easy-to-follow instructions
Obtain adequate financial support for the department through right-way, wrong-way tips
Provide time-saving insight to ancillary leaders who also need financial training

You'll find step-by-step instruction, useful tools, and helpful charts to grasp the confusing language, number crunching, and report analysis that is vital for your budget responsibilities. This book will:

Help nurse managers understand the financial side of healthcare
Walk you through each element of important financial forms and reports
Define necessary financial terminology
Help you justify the importance of the nursing department's financial performance to the entire organization
Provide quick and helpful insider tips and reminders for handling your role as nurse manager
Help you prepare budget presentations
Help you create proformas and build business plans
Help you figure out the right ways - and the wrong ways - to get adequate financial support for your unit

This book comes with a helpful and easy-to-use CD-ROM. The companion CD-ROM is full of customizable forms, critical thinking activities, and helpful handouts to help meet your financial responsibilities throughout your career as nurse manager. The CD-ROM also contains tools you can use to assess employee satisfaction and productivity. With this book and CD-ROM resource, you will be able to:

Identify the flow of revenue cycle in your facility
Discuss the "foreign" language of finance
Identify the components of a financial statement
Explain the differences between a balance sheet and income and departmental statements
Describe the process of budgeting for staff, supplies, equipment, and capital expenditures
Identify the process to construct a budget
Describe breakeven analysis
Define controllable costs and how to manage them
Identify the process to construct a business plan
Explain ROI and its importance in the cost/benefit analysis

As an educational activity, this book also qualifies you for 3 contact hours from HCPro, accredited as a provider of continuing nursing education by the American Nurses Credentialing Center Commission on Accreditation.

KT Waxman, MBA, RN, is President and CEO of KT Waxman and Associates, Healthcare Consulting, based in San Ramon, CA. Waxman is a registered nurse and a certified nursing administrator. She has more than 20 years' experience as a nurse leader. Waxman has held positions as senior consulting manager, chief operating officer, vice president of patient care services, director of behavioral health services, director of critical care services/respiratory therapy, and department director of medical/surgical unit. She is a nationally known speaker on the topic of nursing leadership and management and has presented hundreds of sessions throughout her eclectic career. Waxman is an active member of the American Organization of Nurse Executives (AONE) and currently serves on the AONE Institute's rewards and recognitions committee. An active member of the Association of California Nurse Leaders (ACNL), Waxman has served on its board for five years. She is a past president of ACNL (1998-1999), is currently a faculty member of the California Center for Nurse Leadership, and teaches healthcare finance in its intensive program for nurse leaders. Waxman has a passion for mentoring new nurse managers and feels that the middle manager role is the most difficult in healthcare.

With more than 17 years of experience, HCPro, Inc. is a leading provider of integrated information, education, training, and consulting products and services in the vital areas of healthcare regulation and compliance. The company's mission is to meet the specialized informational, advisory, and educational needs of the healthcare industry. As an acknowledged industry authority in healthcare regulation and compliance, HCPro focuses on providing its expertise in the areas of accreditation, medical staff affairs, credentialing, privileging, medical record management, regulatory compliance, nursing, quality/patient safety, infection control, and workplace safety.

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