About the Author | p. vii |
Introduction | p. xiii |
Budgeting for the Nurse Manager | p. 1 |
What Is a Budget | p. 3 |
The Benefits of Budgeting | p. 4 |
The Integral Nature of Budgeting | p. 8 |
Summary | p. 10 |
How Does Health Care Reimbursement Work? | p. 11 |
Health Care Reimbursement in the USA | p. 12 |
The Early Role of Insurance Companies | p. 13 |
The Advent of Medicare and Medicaid | p. 14 |
Part D and the "Donut Hole" | p. 15 |
Medicaid | p. 17 |
The Role of Philanthropy | p. 18 |
Managed Care | p. 18 |
Types of Health Care Reimbursement | p. 20 |
Capitation | p. 22 |
The Role of Social Policy | p. 25 |
Accountable-Care Organizations (ACOs) | p. 27 |
The Importance of Reimbursement: An Example | p. 29 |
Summary | p. 31 |
Varieties of Budgets | p. 33 |
Forms of Budgets | p. 34 |
Zero-Based Budgets | p. 35 |
Fixed Budgets | p. 35 |
Flexible Budgets | p. 36 |
Historical Budgets | p. 36 |
Operating Budgets Versus Capital Budgets | p. 38 |
Summary | p. 39 |
The Budget-Development Work Flow | p. 41 |
Collecting Relevant Data | p. 42 |
Planning Services | p. 46 |
Planning Activities | p. 46 |
Implementing the Plan | p. 48 |
Monitoring the Budget | p. 48 |
Taking Corrective Measures When Necessary | p. 49 |
Management's Role in Budgeting | p. 50 |
Summary | p. 52 |
Building an Operating Budget | p. 53 |
Key Metrics in the Operating Budget | p. 54 |
Understanding Expenses | p. 57 |
Projecting Expenses | p. 59 |
Calculating Employee-Related Costs | p. 60 |
The Number of FTEs Needed | p. 62 |
Accounting for Benefit Time | p. 63 |
Other Key Calculations | p. 65 |
Putting It All Together | p. 66 |
Busting Budget Myths | p. 68 |
Summary | p. 70 |
Fixed Budgets | p. 35 |
Flexible Budgets | p. 36 |
Historical Budgets | p. 36 |
Operating Budgets Versus Capital Budgets | p. 38 |
Summary | p. 39 |
The Budget-Development Work Flow | p. 41 |
Collecting Relevant Data | p. 42 |
Planning Services | p. 46 |
Planning Activities | p. 46 |
Implementing the Plan | p. 48 |
Monitoring the Budget | p. 48 |
Taking Corrective Measures When Necessary | p. 49 |
Management's Role in Budgeting | p. 50 |
Summary | p. 52 |
Building an Operating Budget | p. 53 |
Key Metrics in the Operating Budget | p. 54 |
Understanding Expenses | p. 57 |
Projecting Expenses | p. 59 |
Calculating Employee-Related Costs | p. 60 |
The Number of FTEs Needed | p. 62 |
Accounting for Benefit Time | p. 63 |
Other Key Calculations | p. 65 |
Putting It All Together | p. 66 |
Busting Budget Myths | p. 68 |
Summary | p. 70 |
Understanding Capital Budgets | p. 71 |
Budgeting for Major Movable Equipment | p. 72 |
Budgeting for Fixed Assets | p. 73 |
Examples of Capital Expenditures | p. 73 |
Why Develop a Capital Budget? | p. 74 |
Developing the Capital Budget | p. 75 |
Including a Contingency Line | p. 80 |
Summary | p. 81 |
Analyzing Budget Variances | p. 83 |
Conducting a Variance Analysis | p. 84 |
Calculating Variances | p. 85 |
Calculating the Efficiency Variance | p. 86 |
Calculating the Volume Variance | p. 87 |
Calculating the Cost Variance | p. 89 |
Putting It All Together | p. 90 |
Summary | p. 92 |
Budget Reports | p. 93 |
Types of Budget Reports | p. 94 |
Comparative Staff Summary Report #1 | p. 96 |
Comparative Staff Summary Report #2 | p. 98 |
Comparative Staff Summary Report #3 | p. 100 |
Comparative Staffing Report #4 | p. 103 |
Comparative Staffing Report for the ICU/CCU | p. 103 |
Staff Mix Analysis Report | p. 103 |
Nursing Care Hour Report | p. 107 |
Summary | p. 107 |
Conclusions | p. 109 |
Get Politically Involved | p. 111 |
Know What Types of Insurance Plans Reimburse Your Organization | p. 112 |
Develop Strategic Relationships with Key Individuals in Your Organization | p. 113 |
Speak the Language of Finance | p. 115 |
Do It | p. 116 |
Concluding Remarks | p. 117 |
Glossary | p. 119 |
Index | p. 133 |
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