Assignment 5: Financial Accountability and Nursing’s Role in Decision-Making Paper (12 points)
This assignment broadens the students understanding and knowledge of the various roles financial management and nursing leaders play in the business of healthcare. Have you ever said to yourself “If we only did things this way, this department/unit would more efficiently and cost effective? Or, what about “I have an idea to improve care and save money?”
For this assignment, the student will identify a workplace/unit issue or concern. Create a plan related to the issue/concern that could help the unit become more efficient and cost effective. A major emphasis of this assignment is to focus upon on how to be more cost effective without compromising quality and safety. How can the plan improve the fiscalhealth of the department and/or unit?
Areas and ideas to consider might include:
• Charge for procedures not previously charged for
• Changing brands of items
• Creating a new department
• Outsourcing procedures or personnel • Buying new or different equipment
• Hiring personnel
• Eliminating procedures, departments, supplies, etc.
• Redesigning procedures, department layout, policy
Develop a scholarly paper that addresses the following criteria:
1. Identify and fully describe the problem or issue.
2. Describe in detail why this is a problem/issue and how it affects patients, nursing, and the organization in terms of fiscal management. Be specific.
3. Develop a plan or proposal related to the chosen problem on how to improve the fiscal health of the department/unit.
4. Include a literature review supporting the plan.
• Describe how the literature/evidence describes the problem/issue or supports the plan/ideas to resolve the problem/issue
• Discuss specific goals and objectives for implementing this plan/proposal
5. Identify specific strategies for solving this problem based on the readings and literature.
6. Include a proposed budget that shows the anticipated cost savings.
• Discuss the return on investment expected (when, who, how, etc.)
• This can be described in (a) narrative format within the paper, (b) in a table within the paper, or (c) as an appendix
7. Include a proposed time line for implementation.
8. Describe how the proposal/plan effectiveness will be evaluated.
9. The scholarly paper should be six to eight (6-8) pages excluding the title page, reference page, and appendices.