Nr533 Week 3

/in /by

 

Week 3: Process of Budget Preparation

After exploration of the types of budgets and the processes for their development at your institution. How and from whom is input into the budgets acquired and used? Where does control of the budget lie? What influence do unit and midlevel managers have on the various kinds of budgets?

 
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
ORDER NOW

Nr533 Week 3 Tp

/in /by

 

Week 3 Touchpoint Reflection: Financial and Budgeting Principle

Guidelines for Touchpoint Reflections

A downloadable version of the guidelines, which includes further information, is available for access in the week 1 discussion thread.

Reflection Information
EXPERIENCE

This week’s readings contained a great deal of information on financial and budgeting principles. Some of you may have had some familiarity with the concepts and maybe even experience in working with them. However, there is always something new to learn. Describe your prior experiences with financial and budgeting principles, whether personally or professionally. Include your current involvement in budgeting at your institution.

REFLECTION

What pre-conceived notions related to healthcare financial and budgeting principles did you hold before this week that you understand better now or for which you have a different perspective? Reflect on at least two specific concepts.  How have these new revelations influenced your thinking related to access, availability, and quality of healthcare?

IMPLICATIONS FOR THE FUTURE
  • How has your enhanced knowing affected the way you view your proposed project?
  • What areas of additional financial or budgeting data gathering have you identified as a need for your plan?
 
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
ORDER NOW

Nr533 Week 3 1

/in /by

Respond 

 

This sounds very complicated and intensive. It is good that the employees have an understanding of the final budget so they can know their responsibility.

Dr. Strong

 
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
ORDER NOW

Nr533 Week 3 1 Tp

/in /by

respond 

 

Experience

            I work as a Patient Care Supervisor in an Acute Care Hospital. Currently, I am taking a Nurse Executive Specialty Track for my MSN that will enhance or develop my knowledge in leadership. As a Patient Care Supervisor, I am tasked with staffing whereby I ensure there is enough staff depending on the census of the unit. Whenever there are bedside procedures, I ensure that supplies are charged. Every day I make sure that we have supplies like juice, jello for the patients, and linens. Therefore, there is need for budgeting for proper planning of the finances involved. I am also regularly consulted by the hospital CFO to report financial information for my unit that would be useful in the budgeting process.

Reflection

            A preconceived notion I held is that budgeting is merely about expenses or how much money is available to be spent. Additionally, I believed that budgeting is a similar process across organizations. However, through this week’s concepts, I now have a better understanding of what budgeting entails. For instance, I am now enlightened that the budgeting process should closely consider organizational goals, mission, vision, and strategic plan. I have also learnt two types of budgeting, that is, incremental and zero-based budgeting. Incremental budgeting is common among public entities while zero-based budgeting is commonly used by private organizations (Menifield, 2017).

Implications for the Future

            The knowledge gained this week has positive implications for the future. In relation to how I view my proposed project, I will take into consideration the influence of financial management on quality outcomes in patient care. An area of financial data gathering that may be useful for my plan concerns patient record keeping. The ability to comprehend the budgeting process is an added advantage for any health care leader (Leger & Dunham-Taylor, 2018).

 
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
ORDER NOW

Nr533 Week 3 1 19491583

/in /by

Respond 

 

This sounds very complicated and intensive. It is good that the employees have an understanding of the final budget so they can know their responsibility.

Dr. Strong

 
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
ORDER NOW

Nrs 410v Module 3 Case Study 1 Alterations Of Hematology And Cardiovascular Systems

/in /by

HOMEWORKMARKET.COM – YOUR HOMEWORK ANSWERSHOMEWORKMARKET.COM – YOUR HOMEWORK ANSWERS