The Nurse Manager’s Guide to Budgeting & Finance, Third Edition

Book excerpt: Nurses focus on the art and science of caregiving, but nurse managers are faced with the economic reality of patient-staffing ratios, budgets, reports, and accounting. Acronyms such as FTEs and ADCs can feel like a foreign language, but thankfully, help is available. Updated to include details about key legislation that affects budgeting, The Nurse Manager’s Guide to Budgeting and Finance, 3rd Edition, provides practical tools, tips, and strategies for running a unit that were not taught in nursing school: · Operating and capital budget development and planning for the year · Formulas and calculations for full-time employee hours, variances, and benefit costs · Explanation of financial statements, budgets, and reimbursement documents · The relationship between high reliability organizations (HROs) and finance/budgets · Differences between not-for-profit and for-profit institutions “What a great reference—complete yet concise! For those nurses who don’t think the budget is important, Rundio identifies the relationship between informed budgeting and improved patient care… No nurse should be without a copy!” –William J. Lorman, PhD, JD, MSN, PMHNP-BC, NCPsyA, FAAN Principal, Insight Psychological Services Willow Grove, Pennsylvania “This book is essential reading for all advanced practice registered nurse educators and policymakers. Concepts central to healthcare costs, reimbursement, and national policy are presented in a way that is easy for the non-manager to understand. It’s not easy to make budgeting interesting, but Dr. Rundio does it!” –Sally K. Miller, PhD, APRN, FAANP Clinical Professor Drexel University College of Nursing and Health Professions