Nurses don’t go into healthcare because they like crunching numbers! But when they become nurse managers, they have to learn a new language of confusing financial jargon and terminology—often with little training.
Introducing A Practical Guide to Finance and Budgeting: Skills for Nurse Managers, Second Edition. This comprehensive guide is specifically designed to help new managers save time and produce, present, and defend the departmental budget.
In the second edition of this bestselling guide, author KT Waxman, MBA, RN, offers new and updated tips and tools that breakdown the confusing and often foreign, financial side of healthcare.
This one-of-a-kind resource offers step-by-step instructions, user-friendly tools, and helpful charts that simplify the convoluted language, number crunching, and report reading that is vital for budget planning and preparing.
The Second Edition is completely updated to help new managers:
- Comprehend the financial side of healthcare through easy-to-understand advice
- Eliminate guesswork with straightforward descriptions of each section of important financial forms and reports
- Save time with plain English definitions of potentially confusing financial terminology
- Secure executive buy-in with concise explanations of how the nursing department’s financial performance affects the entire organization
- Handle the new role of manager with quick and helpful field-tested tips and reminders
- Prepare budget presentations and build business plans with simple and easy-to-follow instructions
- Obtain adequate financial support for the department through right-way, wrong-way tips
- Provide time-saving insight to ancillary leaders who also need financial training
What is new in the second edition?
Not only does this guide help nurse managers, it also provides useful advice and tools for ancillary leaders who also need to plan staffing, create business plans, and justify budgets.
This second edition offers timely, need-to-know information to help managers of various types create solid business plans without spending time searching through multiple sources. This unique guide offers everything a new manager needs to effectively maintain a department’s financial planning.
Bonus CD-ROM with customizable forms and tools!
The second edition comes with a CD-ROM packed with forms, critical thinking activities, and helpful handouts to help managers meet their financial responsibilities throughout their careers.
The realities of today’s healthcare environment mean nursing and ancillary managers need to understand and interpret fiscal concerns to earn their place at the table. Rely on A Practical Guide to Finance and Budgeting: Skills for Nurse Managers, Second Edition to help your managers master their financial responsibilities with ease.
Who should buy this book?
A perfect resource for nurse managers, VPs of nursing, chief nursing officers, directors of nursing, nursing home administrators, ASC, home health, and rehab nursing administrators, staff educators, directors of education, and ancillary managers.
Earn 3 continuing education credits
HCPro is accredited as a provider of continuing education by the American Nurses Credentialing Center Commission on Accreditation. This educational activity for 3 nursing contact hours is provided by HCPro, Inc.
Learning objectives:
- Identify the flow of revenue cycle in your facility
- Discuss the foreign language of finance
- Identify the components of a financial statement
- Explain the differences between a balance sheet and income and departmental statements
- Describe the process of budgeting for staff, supplies, equipment, and capital expenditures
- Identify the process to construct a budget
- Describe breakeven analysis
- Define controllable costs
- Explain how to manage controllable costs
- Identify the process to construct a business plan
- Explain return on investment
- Describe return on investment’s importance in the cost/benefit analysis
About the author
KT Waxman, MBA, RN, president and CEO of KT Waxman and associates, a healthcare consulting company based in San Ramon, CA. Waxman has more than 20 years of experience as a nurse leader, has a master’s degree in business administration and a bachelor’s degree in healthcare administration from the university of La Verne in California, and speaks at conferences and forums across the country on the topic of finance and budgeting.
Faculty Disclosure of Vested Interest—HCPro Inc. has confirmed that none of the faculty/presenters or contributors have any relevant financial relationships to disclose related to the content of this educational activity.
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