N4455_Shoemaker_Stacie_ Financial Management .docx - N4455 Nursing Leadership and Management Module 3 Assignment 1 Financial Management Case Study

N4455_Shoemaker_Stacie_ Financial Management .docx - N4455...

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N4455 Nursing Leadership and ManagementModule 3 Assignment 1: Financial Management Case Study vsp20(1)Name:Stacie ShoemakerDate:1/25/20Overview: Financial Management Case StudyOne of the important duties of a nurse leader is to manage personnel and personnel budgets. In this assignment, you will assume the role of a nurse manager. You will use given datato make important decisions regarding budgets and staffing. Some nurse managers have computer spreadsheets or software applications to help them make decisions regarding budgets and staffing. You will only need simple mathematical operations* to perform the needed calculations in this assignment because the scenario has been simplified. Furthermore, some data have been provided for youthat a nurse leader might need to gather or compute in a real setting. Still, you will get a glimpse of the complexity of responsibilities nurse leaders shoulder regarding financial management. To calculate the percent of the wholea given number represents, follow these steps:Change the percentage to a decimal number by moving the decimal twice to the left (or dividing by 100).Multiply the new decimal number by the whole. Example: What is 30% of 70? 30%= .30; (.30) × 70 = 21To find out what percentage a number represents in relation to the whole, follow these steps:Divide the number by the whole (usually the small number by the large number).Change the decimal answer to percent by moving the decimal twice to the right (or multiplying by 100).Example: What percent of 45 is 10? 10 ÷ 45 = .222; so, 10 is 22%of 45. * You will only need addition, subtraction, multiplication, and division. ©2020 University of Texas at ArlingtonPage 1 of 8
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N4455 Nursing Leadership and ManagementCase StudyYou are the manager for 3 West, a medical/surgical unit. You have been given the following data to assist you in preparing your budget for the upcoming fiscal year.Patient DataAverage Daily Census (ADC): 55Budget based on 6.2 Avg. Hours per patient day (HPPD) (6.2 HPPD excludesNurse Manager and unit secretaries)Staff DataTotal FTEs40.0 Variable FTEs1.0 Nurse Manager2.5 Unit Secretaries 43.5 Total FTEs Staffing MixRN 75%LVN 10%NA 15%Average Salary Scale per EmployeeBenefits are 35% of annual salaries©2020 University of Texas at ArlingtonPage 2 of 8Nurse Manager$78,000.00 per yearRegistered Nurses (RN)$36.00 per hour
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  • Spring '16
  • Nursing, Registered nurse, Nurse Manager, financial budget

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