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Nursing budget - Assignment Example

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Nursing Budget By: Class: Date: 1. The cost of turnover for our department would be estimated at 50%. The factors that play a role in this would be the size of our facility compared to others, the current pool of qualified applicants, and the accessibility of training facilities and personnel…
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Nursing budget
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Download file to see previous pages This would mean a noninvasive way to get the same results. Noninvasive is ideal for any patient because it means more comfort for the patient while we are conducting our tests. The controllable costs will be the initial costs to purchase a unit. Uncontrollable costs will be in the form of maintenance and this would be based on the usage. If we were to buy a unit that costs $10,000 and finance it at 8% interest over 2 years our payments would only be $452.27 per month. This is more than reasonable. 7. We would need to hire 6 RNs for the regular shifts and an additional part–time RN. This would mean a total of 7 RNs. 8. Median salary for RNs is 75,180. For the full time RNs this would be $451,080. Our part time RN would earn $33.09 per hour and receive up to 30 hours per week for a maximum payroll total of $51,620.40. Total for all would be approximately $502,700.40. 9. You could use 4 full time RNs and 1 part-time RN if the shifts were 12 hours each. 10 – 13. Options for the 6th nurse would include being a floater, training, helping out with phones or other things that need to be done. I would make my 6th nurse a floater meaning that she would constantly go from room to room to make sure that the patients and other nurses have what they need. The floater would be a different nurse each time this happens to make sure that the other nurses also have a chance to perform the same duties. Implementing this decision would allow all of the nurses to learn from one another thereby making sure they are all on the same page. One nurse would not be receiving more or less training than the other but instead they will be training as a group. 14 - 16. A cost containment strategy would be effective staffing and human resource policies. HR software could be used to keep track of employees’ comings and goings. We could use an automated time card system that would track time, holidays, breaks, etc. This would help with containment of overtime, lost hours due to being nonproductive and over or under staffing. Also making sure there is a clear plan for overtime, identifying nonproductive time, and demonstrating a firm understanding of incentives and bonuses (Kirkby, 2003). Overtime is usually the cause of being over budget due to not planning out the staff accordingly. There should always be some contingencies included in any personnel budget to make sure that overtime is at a minimum. Lost hours may not seem as important but if we look at the hours that an employee has spent being nonproductive we realize how much we are losing by paying that employee to do virtually nothing. 17 - 20. The continuous limb movement machines can be postponed as well as the seminar. We were most accurate in predicting supplies and personnel expenses. We were most inaccurate with continuing education, capital expenditures, and travel. Some factors that contributed to this could have been not knowing ahead of time which conferences we wanted to attend as well as deciding too late to buy more equipment. We over budgeted for personnel. This over-budgeting could be used towards some of the other things that we want to do such as purchasing the equipment we need or attending the conference. Our projected ADC was actually too low as well. In next year’s budget we should plan on ADC being slightly higher than 25.8 so that we can adequately budget for all aspects of our department. 21 – 24. According to Schmidt & Altus (Schmidt & Altus, 2010) several factors that are ...Download file to see next pagesRead More
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