The Nurse Manager's Guide to Budgeting & Finance / Edition 2

by Al Rundio

Overview

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 will affect budgeting, The Nurse Manager's Guide to Budgeting and Finance, 3rd Edition, provides practical tools, tips, and strategies for running a unit that you weren't 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

Product Details

ISBN-13:	9781940446585
Publisher:	Sigma Theta Tau International
Publication date:	02/01/2016
Edition description:	New Edition
Pages:	250
Product dimensions:	5.50(w) x 8.40(h) x 0.70(d)

About the Author

Al Rundio, PhD, DNP, RN, APRN, NEA-BC, FNAP, FAAN, is an experienced clinician, administrator, and educator. He is a Clinical Professor of Nursing at Drexel University's College of Nursing and Health Professions in Philadelphia, Pennsylvania. He is the former Vice President of Nursing/CNO at Shore Medical Center in Somers Point, New Jersey. He is a member of the board of trustees of Inspira Health System in New Jersey. Rundio currently practices part-time as a nurse practitioner in a residential addiction treatment center. He is the immediate Past President of the International Nurses Society on Addictions. Rundio is the coauthor of the first, second, and third editions of Nurse Executive Review and Resource Manual, published by the American Nurses Credentialing Center. He is the coeditor and author of The Doctor of Nursing Practice and the Nurse Executive Role, published by Lippincott Williams & Wilkins. He is the editor of Nurse Management & Executive Practice, also published by Lippincott Williams & Wilkins. He is the coeditor-in-chief of the Journal of Interprofessional Education and Practice. He is a popular speaker on nurse management and leadership topics. He presents nurse executive review courses to assist nurses in preparation for the nurse executive certification board examinations.

Table of Contents

1. Budgeting for the Nurse Manager
2. Healthcare Reimbursement
3. Budget Types
4. Budget Development
5. Building Operating Budgets
6. Capital Budgets
7. Budget Variances
8. Budget Reports
9. Healthcare Reform & the Affordable Care Act
10. Governing Boards & Specialty Organizations
11. QSEN Competencies and High-Reliability Organization
12. Conclusions

Editorial Reviews

Reviewer: Cynthia Cummings, EdD, RN, CHSE, CNE (University of North Florida Brooks College of Health)
Description: This book describes healthcare budgeting and finance for nurse managers and covers in depth healthcare reimbursement, which is an area that is not normally well understood by nurse managers.
Purpose: The purpose is to describe healthcare budgets, finances, and reimbursement. This book is certainly needed in these difficult economic times.
Audience: It is written for nurse managers and others interested in healthcare budgeting and finance. The author notes that the book was informed by classes he took and taught as well as his experience managing in a variety of healthcare settings.
Features: The book covers many topics, such as healthcare reimbursement, the role of insurance companies, capitation, accountable care organizations, and varying budget models, including capital expenditures, variance analysis, and reports. It contains a helpful glossary of terms, many examples of budgets, and "key action" points that make excellent student assignments. It is not intended to address areas of management other than financial issues in its 117 pages.
Assessment: This is an excellent resource for nurse managers or students needing an understanding of financial management in healthcare. The book presents valuable information, reports, and action items, which are particularly pertinent in the current economic climate. It is unique in its singular focus on the financial aspects, which may be all that a nurse manager requires. New nurse managers needing a broader-based understanding may find books such as The Business of Nurse Management: A Toolkit for Success, Bateman (Springer Publishing, 2012), more appropriate.

Doody's Review Service

"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. He clearly describes everything the nurse needs to know about the budget and the budgeting process. And if that isn't enough, he provides decisive and essential information for future administrative and clinical practice. No nurse should be without a copy!"

-William J. Lorman, PhD, JD, MSN, PMHNP-BC, NCPsyA, FAAN

Principal, Insight Psychological Services

Willow Grove, Pennsylvania

"The Nurse Manager's Guide to Budgeting & Finance, Third Edition, is so much more than a guide for nurse managers! 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

"Dr. Rundio has significant experience as a nurse executive and is currently my successor as treasurer for the Nightingale Awards of Pennsylvania. His book comprehensively outlines key budgeting concepts and shares important steps in developing strong, credible nursing budgets. This third edition includes 'real time' interviews and case examples that enhance the assimilation of knowledge and understanding of financial concepts-an outstanding strategy for explaining this often complicated yet critical leadership topic. I truly wish I'd had Dr. Rundio's book as a reference early in my career, not only for myself but as a resource for nurse leader colleagues!"

-Valerie S. Hardy-Sprenkle, MPH, RN, NEA-BC, FACHE (R)

WellSpan Vice President of Acute Care Nursing Practice (Retired)

WellSpan York Hospital Vice President/Chief Nursing Officer (Retired)

"Al Rundio's third edition of The Nurse Manager's Guide to Budgeting & Finance is a must-have resource for new nurse leaders as well as seasoned nurse executives. In this edition, Al addresses contemporary issues facing nurse leaders such as the financial impact of the global pandemic. He provides an up-to-date view of the complexities and challenges of the healthcare financial environment and shares real-world examples that exemplify nursing financial acumen. This guide should be part of every nurse manager's toolkit for assuring competent practice."

-Moreen Donahue, DNP, RN, FAAN, NEA-BC

Nurse Consultant

"Dr. Rundio did an amazing job of taking an incredible amount of information and streamlining it into short, detailed, and informative sections. His chapter on 'Budgeting Development' provides a true collection of all the specifics that need to be considered, as well as the steps needed to create a solid budget. I love that he included his personal thoughts and experiences throughout the book."

-Cindy McIntire, RN

Director of Nursing, Enlightened Solutions Detox

From the Publisher