2.50
Hdl Handle:
http://hdl.handle.net/10755/182704
Category:
Abstract
Type:
Presentation
Title:
Money Matters: Engaging Staff Nurses in the Financial Process
Author(s):
Cartmell, Miriam; Vannatta, Mary Jo
Author Details:
Miriam Cartmell, MS, RNC, CNAA, BC, Kettering Medical Center, Kettering, Ohio, USA, email: Miriam.Cartmell@khnetwork.org; Mary Jo Vannatta, RN, BSN
Abstract:
Podium Presentation: BRIEF DESCRIPTION: The development of a shared division council to address financial and budget processes can lead to improved financial outcomes and staff satisfaction. This presentation outlines the organization of the council, issues addressed by the council, and the impact of real-life decisions made by staff nurses. ABSTRACT: How does the business of healthcare affect the bedside nurse? How can we teach and involve nurses to be part of the unit budgetary process and financial management of their practice? Do nurses now need a business brain as much as they need clinical competence (Vere-Jones, 2006)? We too asked these questions. Dedicated to a shared governance model, this division set out to establish a Finance Council. The council is comprised of front-line staff from a variety of inpatient and outpatient settings reporting to this division. In addition, one graduate student working within the division, and one new Nurse Manger in the division also participated to gain/review financial knowledge. Business acumen is often a management competency that evolves over time yet is not typically considered at a staff nurse level. In organizations that wish to foster a learning environment, and mentorship for the next generation of leaders, a shared governance model provides an interactive platform from which to gain insight into the decision-making process. This process influences care at the bedside, but occurs outside of the patient care room. With shared governance, in addition to clinical practice decisions, nurses can extend their influence into administrative areas previously controlled only by managers (Hess, 2004). Through our council, we prepared staff to become the unit experts able to answer questions related to productivity, volume forecasting impacts, minor equipment selection with budget constraints, and capital purchase decision and prioritization. These issues were often in real-time situations. Benefits of this process include staff engagement demonstrated by additional members asking to join the group, an increase in our NDNQI scores related to staff participation in decision making, a division wide year end result of 7% improvement in productivity, and a $2M positive variance in total contribution margin. These achievements point to the understanding of the actual user, the bedside nurse, managing resource allocation of labor and supplies. Professional nurses want an environment that validates their opinion matters (Saylor, 2007). Our council is one way to provide the tools, invite the discussion, and make the decisions that impact how they deliver care. REFERENCES: Saylor, D. L., Shared governance: your opinion matters. Nursing Management. 2007; May, 38(5): 14-16. Vere-Jones, E., The business of nursing. Nursing Times. 2006; June, 102(23): 14-7. Hess, R. G., Jr., From bedside to boardroom - nursing shared governance. The Online Journal of Issues in Nursing. 2004; Jan 31, 9(1): 2.
Repository Posting Date:
28-Oct-2011
Date of Publication:
28-Oct-2011
Conference Date:
2008
Conference Name:
ANCC National Magnet Conference
Conference Host:
American Nurses Credentialing Center
Conference Location:
Salt Lake City, Utah, USA
Description:
The 12th American Nurses Credentialing Center (ANCC) National Magnet Conference, held 15-17 October, 2008 in Salt Lake City, Utah, USA.
Note:
This is an abstract-only submission. If the author has submitted a full-text item based on this abstract, you may find it by browsing the Virginia Henderson Global Nursing e-Repository by author. If author contact information is available in this abstract, please feel free to contact him or her with your queries regarding this submission. Alternatively, please contact the conference host, journal, or publisher (according to the circumstance) for further details regarding this item. If a citation is listed in this record, the item has been published and is available via open-access avenues or a journal/database subscription. Contact your library for assistance in obtaining the as-published article.

Full metadata record

DC FieldValue Language
dc.type.categoryAbstracten_US
dc.typePresentationen_GB
dc.titleMoney Matters: Engaging Staff Nurses in the Financial Processen_GB
dc.contributor.authorCartmell, Miriamen_US
dc.contributor.authorVannatta, Mary Joen_US
dc.author.detailsMiriam Cartmell, MS, RNC, CNAA, BC, Kettering Medical Center, Kettering, Ohio, USA, email: Miriam.Cartmell@khnetwork.org; Mary Jo Vannatta, RN, BSNen_US
dc.identifier.urihttp://hdl.handle.net/10755/182704-
dc.description.abstractPodium Presentation: BRIEF DESCRIPTION: The development of a shared division council to address financial and budget processes can lead to improved financial outcomes and staff satisfaction. This presentation outlines the organization of the council, issues addressed by the council, and the impact of real-life decisions made by staff nurses. ABSTRACT: How does the business of healthcare affect the bedside nurse? How can we teach and involve nurses to be part of the unit budgetary process and financial management of their practice? Do nurses now need a business brain as much as they need clinical competence (Vere-Jones, 2006)? We too asked these questions. Dedicated to a shared governance model, this division set out to establish a Finance Council. The council is comprised of front-line staff from a variety of inpatient and outpatient settings reporting to this division. In addition, one graduate student working within the division, and one new Nurse Manger in the division also participated to gain/review financial knowledge. Business acumen is often a management competency that evolves over time yet is not typically considered at a staff nurse level. In organizations that wish to foster a learning environment, and mentorship for the next generation of leaders, a shared governance model provides an interactive platform from which to gain insight into the decision-making process. This process influences care at the bedside, but occurs outside of the patient care room. With shared governance, in addition to clinical practice decisions, nurses can extend their influence into administrative areas previously controlled only by managers (Hess, 2004). Through our council, we prepared staff to become the unit experts able to answer questions related to productivity, volume forecasting impacts, minor equipment selection with budget constraints, and capital purchase decision and prioritization. These issues were often in real-time situations. Benefits of this process include staff engagement demonstrated by additional members asking to join the group, an increase in our NDNQI scores related to staff participation in decision making, a division wide year end result of 7% improvement in productivity, and a $2M positive variance in total contribution margin. These achievements point to the understanding of the actual user, the bedside nurse, managing resource allocation of labor and supplies. Professional nurses want an environment that validates their opinion matters (Saylor, 2007). Our council is one way to provide the tools, invite the discussion, and make the decisions that impact how they deliver care. REFERENCES: Saylor, D. L., Shared governance: your opinion matters. Nursing Management. 2007; May, 38(5): 14-16. Vere-Jones, E., The business of nursing. Nursing Times. 2006; June, 102(23): 14-7. Hess, R. G., Jr., From bedside to boardroom - nursing shared governance. The Online Journal of Issues in Nursing. 2004; Jan 31, 9(1): 2.en_GB
dc.date.available2011-10-28T15:36:21Z-
dc.date.issued2011-10-28en_GB
dc.date.accessioned2011-10-28T15:36:21Z-
dc.conference.date2008en_US
dc.conference.nameANCC National Magnet Conferenceen_US
dc.conference.hostAmerican Nurses Credentialing Centeren_US
dc.conference.locationSalt Lake City, Utah, USAen_US
dc.descriptionThe 12th American Nurses Credentialing Center (ANCC) National Magnet Conference, held 15-17 October, 2008 in Salt Lake City, Utah, USA.en_US
dc.description.noteThis is an abstract-only submission. If the author has submitted a full-text item based on this abstract, you may find it by browsing the Virginia Henderson Global Nursing e-Repository by author. If author contact information is available in this abstract, please feel free to contact him or her with your queries regarding this submission. Alternatively, please contact the conference host, journal, or publisher (according to the circumstance) for further details regarding this item. If a citation is listed in this record, the item has been published and is available via open-access avenues or a journal/database subscription. Contact your library for assistance in obtaining the as-published article.-
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