Nursing Leadership/Management Role in Budgets Essay

“Since we are a small unit composed of mostly RNs, I sit down with my staff and we go over the budget together. It gives the staff a sense of proprietorship. This way I feel we are sharing the responsibilities and it helps them to understand why we cannot afford a piece of equipment at this time. I can usually depend on someone to think out of the box. Once we went “dumpster diving” for office supplies as one employee suggested. It is actually the hospital’s warehouse for materials nobody wanted. We savaged enough office supplies for the year and was able to purchase a high cost item the unit needed. Plus it was a team building effort.”

One of the major functions of a nurse manager is managing a budget and allocating resources necessary to manage the unit or facility effectively. “Major steps in the budgeting process include gathering information and planning, developing unit budgets, developing cash budgets, negotiating and revising, and using feedback to control budget results and improve future plans”(Yoder-Wise, 2012, p. 244). The nurse manager must be able to accommodate variances and acclimate the budget in both the projections and up-to-date expenditures. Proficiency in managing a unit level budget is essential for both a favorable variance and optimal patient outcomes. Budgeting entails reviewing revenues and expenses, staffing costs, supplies, and capital equipment costs (Contino, 2001). This case study examines personnel, overtime (OT), supplies, travel, equipment, and staff education and the manner in which management can address these factors.

American Association of College of Nursing (2012).White Paper on The Role of the Clinical Nurse Leader Retrived from: http://www.aacn.nche.edu/publications/white-papers/cnl

3). In this relationship, each must work through phases including conflict resolution and negotiation as part of the process. Transformational theory further explains leadership must include exhibiting a degree of emotional intelligence. This occurs when perceiving how others feel, understanding how the feelings lead to thinking, understanding the emotions, and managing emotions internally. In respects to this theory, emotional intelligence enhances this bi-directional relationship between the leader and the followers (Spears, 2002).

Leadership is all about having the right amount of heart and determination to help make a difference in someone’s life. It takes certain qualities to be considered a good leader. A leader should want to help inspire others to make a change and to be the best that they can be. A true leader does not need to feel powerful, instead they empower those around them. Throughout my life I have come across various leaders who have made an impact on my life. It takes a very special person to inspire and touch people’s lives. Leadership is so much deeper than having power and bossing people around.

No matter how great a nurse leader may be, every nurse leader has their strengths and weaknesses. My strengths include being compassionate, humble, and resilient. Whereas my biggest weakness as a leader is not having the appropriate skills to influence others to see things my way.

Capital expenditure budget. This budget is needed when an organization needs to invest in major projects and equipments, such as purchases of new products, new information technology systems, in which a management team will conduct a financial evaluation to determine whether the company’s return on investments will be met (Halliman, 2006).

As the charge nurse of the acute care, the nurse interviewed is in charge of 6 employees in that specific department, but on the weekend she leads the entire hospital. Although being a nurse leader has its challenges, it’s great when everyone works together to achieve their goals and it becomes very fun. In regards to a budget, she has to conduct one for her responsibilities in infection control. This comes with many obstacles as it is hard to predict the budget for the entire year, and this was never taught to nurses in school or as part of job training (R. H., personal communication, November 12, 2016).

Leadership and management are essential to any health care organization, balancing patient care, employees, physicians, and the organization. Nursing is founded on interpersonal relationships. As a people-oriented profession, nursing leadership styles are influenced by humanism. The mission, attitude, and behaviors of a health care organization begins with its leadership, which creates the direction and purpose of the organization. The purpose of this paper is to differentiate between leadership and management, describe views of leadership, and explain the

Healthcare changes occurring today along with shrinking budgets and reimbursement rates for hospitals has forced institution CEOs to do more with less. Changes and restructuring of various health facilities require nursing leaders with flexibility and adaptability. Nurse leaders must also consider budgetary constraints, cost effectiveness, patient safety, and quality care while maintaining focus on improved patient outcome. The responsibility of ensuring patients receive safe and high quality care belongs to every employee in the hospital, including support staff such as IV therapy. In this hospital, this led to the development of a nurse director position to oversee the

Nurse leaders are faced with issues or problems on a daily basis that are often expected and sometimes unexpected. It “comes with the territory” so to speak. If there were no issues to solve or hurdles to overcome the necessity of designating a leader would not seem quite as important. Nurse leaders can tackle issues that occur in their work environment using nursing theory to guide them. Nursing theory provides a framework that nurse leaders can use to implement interventions or changes to positively impact the staff they lead. This framework of the theory will set the standards for achieving the desired outcomes and is based on knowledge that is gleaned from practice and/or research.

“Managers with leadership styles that seek and value contributions from staff, promote a climate in which information is shared effectively, promote decision making at the staff nurse level, exert position power, and influence coordination of work to provide a milieu that maintains a stable cadre of nurses”, (Boyle, Bott, Hansen, Woods & Taunton, 2009). This statement describes the large impact a leadership style can make on the work environment, and the morale of the team. In nursing history, several theories and leadership

Leadership may mean different things to different people, the consensus opinion of experts in this field is that leadership is using power to direct and influence activities of people to achieve set goals or targets. Nursing leadership is all about every nurse providing, facilitating and promoting the best healthcare services to client and to the public. Leadership is a shared responsibility. (CNO 2012). The nursing profession need leaders that can build the capacity of nurses through mentoring, coaching, supporting, developing the expertise and management skills of nurses to make a difference to the quality of patient care at all levels of the profession ( McIntyre & McDonald, 2014 ). At the core of every leadership either political or managerial is power and how the leader uses it. While it is practically impossible to lead without power, how the nurse leader uses this power not only determine the leadership style but also the results or outcomes of what is achieved through the process.

A company's budget serves as a guideline in planning and committing costs in order to meet tactical and strategic goals. Tactical goals such as providing budgetary costs for daily operations, and strategic objectives that include R&D, production, marketing, and distribution are all part of the budgeting process. Serving as a guideline rather than being set in stone, the budget is a snapshot of manager's "best thinking at the time it is prepared." (Marshall, 2003, p.496) The budget is a method in which to reign-in discretionary spending, and will likely show variances between what costs have been anticipated and what costs are actually incurred.

Staffing shortfalls in the medical community have been noted since the turn of the century (Coss, 2009). There are not enough professionals being adequately trained to handle the increased demand for complex health care (Stock, McDermott, & McDermott, 2014). Many hospitals experience nursing shortfalls due to this shortage. However, some shortfalls result from the hospital 's inability to financially maintain adequate staffing. Hospital management is forced to make difficult operating decisions as they continue to recover from the financial crisis of 2008 (American Hospital Association, 2008).