Nursing Management Practice. Nursing Economics

Nursing Management Practice. Nursing Economics

Financials are something that one nurse may say she knows nothing about, but that is not true. Financial decisions made by the facility impact the direct care that nurses give to patients. When there are budget cuts, nurses may feel that they do not have the resources to provide for the patients. One ethical implication of financial decisions includes the impact of incentives. A nurse may provide different care when there is some type of incentive at play…whether that be food or monetary. It is suspected that a nurse may provide better care to the patient when the incentives are there. This is an ethical implication because we as nurses should be providing the same amount of care, no matter the incentive or not. “Leaders must make it there responsibility to provide nurses with increased exposure to quality, safety, and financial data, thereby allowing nurses to translate data while achieving and sustaining successful outcomes” (Talley, Thorgrimson, & Robinson, 2013, pg. 82).Nursing Management Practice. Nursing Economics


  There are many ways to include nursing staff in the financial planning of the facility. The first way is for the nurse to have an understanding. A financial boot camp provides a “curriculum a regular part of the nursing orientation process” (Talley, Thorgrimson, & Robinson, 2013, pg. 80). “Understanding the business of nursing includes, but is not limited to, trends, growth, volume, patient population, physician/provider changes, and internal and external environmental impact” (Talley, Thorgrimson, & Robinson, 2013, pg. 80). The next way to involve nursing to have leaders that are open and honest about the financials. “Leaders must make it their responsibility to provide nurses with increased exposure…” (Talley, Thorgrimson, & Robinson, 2013, pg. 77). The development of the nursing dashboard may assist with this. The CNO dashboard includes particular metrics that are part of the financials of the facility. The CNO dashboard specifically breaks down each unit in the facility and provides the metrics for that unit. Having access to this information as nursing staff will allow you to see where the money is allocated and why. Having a better knowledge of where that money goes will make you a better nurse and how you use your unit’s supplies. “Patient safety priorities, quality outcome initiatives, and financial accountability are more imperative than ever” (Talley, Thorgrimson, & Robinson, 2013, pg. 82). Thanks, Ashleigh Bowman Reference: Talley, L., Thorgrimson, D., & Robinson, N. (2013). Financial Literacy as an Essential Element in Nursing Management Practice. Nursing Economics, 31(2), 77-82. Retrieved August 20, 2019. Nursing Management Practice. Nursing Economics


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