4209- Fiscal Planning & DRGs. Presented by Teri Pierce, MSN, RN Nsg 401 Rev. Fall 10. Fiscal Planning. Not intuitive; it is a learned skill that improves with practice. An important but often neglected dimension of planning. Fiscal Planning.
Presented by Teri Pierce, MSN, RN
Rev. Fall 10
Refers to effective and efficient delivery of services while generating needed revenues for continued organizational productivity
Responsibility of every health care provider
Viability of most health care organizations today depends on wise use of resources
Forecasting involves making an educated budget estimate using historical data.
Cost of benefits
New employee orientation
Total hours worked by nursing staff in a 24-hour period
patient census at the end of that
Total hours worked by a nurse (over 7 days)
Also called clinical pathways
Definition- standardized prediction of patients’ progress for a specific diagnosis or procedure
Length of stay (LOS)
Variance analysis - may be justifiable… ?
Fixed costs – things that don’t change, the amt you pay every month is the same
Variable costs – varies with volume and staff
cost to provide service+ profit
Reimbursement is not guaranteed by provision of service
Need for self-awareness regarding values in provision of care
Marquis, B. L., & Huston C. J. (2009). Leadership roles and management functions in nursing: Theory and application (6th ed.).Philadelphia: Wolters Kluwer Health.