Week 1 Discussion
DQ1 Budgeting Concepts
Motivating employees of a healthcare organization is important for the success of the organization. If employees are not motivated to support the budget, it will typically not be successful. As the nurse leader, discuss two strategies to increase employee motivation related to the budget process.
DQ2 Budgeting Preparation
The largest element of a nursing unit’s operating budget is usually labor. As the nurse leader of her unit, Debbie is preparing her initial annual budget. Describe two factors she should consider when deciding whether to increase or decrease the current number of full-time equivalents (FTEs) on her unit for the next fiscal year.
Week 2 Discussion
DQ1 Healthcare Costs and Prices
Discuss one difference between the types of cost information needed for external reporting and the information useful to the manager.
Debbie meets with her supervisor to discuss forecasting. Discuss one reason why Debbie should support forecasting. Explain your rationale.
Week 3 Discussion
DQ1: Causes of Variances
Debbie is reviewing her monthly financial data. Discuss one potential variance that may occur in Debbie’s budget.
DQ2 Interpretation of Variances
Examine the differences between an original budget and a flexible budget. Discuss the purpose of both types of budgets.
Week 4 Discussion
DQ1 Marketing Plans
Discuss the influence your marketing plan can have on your operating budget.
DQ2 Incentives and Economic Implications
Debbie and her supervisor are having some preliminary budget discussions. The use of incentives is mentioned. Discuss the purpose of using incentives in Debbie’s operating budget.
Week 5 Discussion
DQ1: Pro Formas
Debbie and her supervisor have moved to the topic of pro formas. Discuss the purpose of pro forma statements and how they may benefit Debbie.
DQ2 Budgeting Process
Describe the budgeting process and the role of the nurse leader.
Week 6 Discussion
DQ1: Long-term Financing
After reading this week’s article by Niemand, discuss the benefits of developing a business plan to secure long-term financing in a healthcare organization.
DQ2 Financial Risk
Sources of financing for SLMC have changed over time. Historically, many donors provided financial assistance to the organization. Discuss concerns Debbie may have in preparing her annual budget, if your organization has historically been funded by philanthropy.
Week 7 Discussion
DQ1 Business Plan
Discuss the purpose of a business plan.
DQ2 Development of a Business Plan
Discuss the influence of the mission of SLMC in the development of the business plan that Debbie must develop.
Week 8 Discussion
DQ1 Business Plan Assignment
Upload your Business Plan Assignment from Week 7 into this discussion. Please provide insights and constructive feedback to your peers regarding their Business Plan Assignment.
What specific knowledge of financial management in healthcare organizations, that you gained through this experience, will be most important as you take on your future nurse-executive role?