Prof Name Course Name Student Name Capella University Assessment 2 Preparing and Managing an Operating Budget MSNwritingservices com Sept 26 2023 Do you need Help to complete your Capella Uni MSN FlexPath Class in 1 Billing Email Us Contact MSNwritingservices com Website MSNwritingservices com For Free MSN Sample MSNwritingservices com free Sample Preparing and Managing the Operating Budget in Healthcare Leadership MSNwritingservices com Healthcare administration demands a well rounded approach to enhance care quality through strategic planning organization and evaluation of healthcare systems Nursing leaders play a pivotal role in managing operating budgets promoting staff and patient satisfaction and driving innovation and empowerment within their teams Mastery in financial management awareness of current trends and effective leadership are essential for creating and overseeing successful budgets Nursing leaders with strong business skills help healthcare facilities grow by implementing innovative changes that address both patient care and staff needs This leadership directly improves patient outcomes reduces medical errors and boosts morale and productivity among healthcare workers The objective of this assessment is to create and manage a budget for a unit within a 35 bed hospital staffed by 20 full time equivalent employees The budget will focus on addressing staff turnover and retention while aligning with the organization s commitment to staff well being and patient centered care Objective Do you need Help to complete your Capella Uni MSN FlexPath Class in 1 Billing Email Us Contact MSNwritingservices com Website MSNwritingservices com For Free MSN Sample MSNwritingservices com free Sample Operating Budget Budget Creation and Design Strategic Plan and Evaluation Criteria An operating budget outlines projected expenses and revenues over a specific period guiding financial activities For a small hospital key expenses include medical supplies utilities staff training and technology maintenance critical components for maintaining staff satisfaction and retention Revenue sources typically include patient care fees research grants and charitable donations Creating a budget involves systematic planning analysis and decision making to ensure consistency and accuracy Strategic planning sets the objectives taking into account economic conditions available resources and patient expectations Budgetary decisions are informed by data from baseline assessments needs analyses and a SWOT analysis A solid strategic plan ensures that the budget aligns with the organization s mission and sets clear measurable goals This budget emphasizes staff retention and patient centered care while supporting the organization s overall objectives Evaluation metrics such as staff retention rates patient satisfaction surveys and clinical quality indicators will be used to measure the budget s effectiveness MSNwritingservices com Managing the budget requires continuous monitoring analysis and development Quarterly data collection helps evaluate long term financial sustainability track quality indicators and assess departmental performance Effective budget management focuses on minimizing non productive time accurately tracking employee hours and promoting a healthy work life balance This assessment outlines the development of an operating budget for a 35 bed hospital unit with a strong focus on staff retention and patient centered care The budget integrates strategies for staff retention patient care and training while ongoing management ensures continuous evaluation and adaptability Ongoing Budget Management Conclusion Do you need Help to complete your Capella Uni MSN FlexPath Class in 1 Billing Email Us Contact MSNwritingservices com Website MSNwritingservices com For Free MSN Sample MSNwritingservices com free Sample References Abdulsalam Y Schneller E 2019 Hospital supply expenses An important ingredient in health services research 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Health Services Research 20 1 147 https doi org 10 1186 s12913 020 4999 8 MSNwritingservices com Specchia M L Cozzolino M R Carini E et al 2021 Leadership styles and nurses job satisfaction Results of a systematic review International Journal of Environmental Research and Public Health 18 4 1552 https doi org 10 3390 ijerph18041552 Sonmez Cakir F Adiguzel Z 2020 Analysis of leader effectiveness in organization and knowledge sharing behavior on employees and organization SAGE Open 10 1 215824402091463 https doi org 10 1177 2158244020914634 Weyman A K Glendinning R Costa J et al 2023 Should I stay or should I go NHS staff retention in the post COVID 19 world Challenges and prospects https doi org 10 5281 zenodo 7611656 Wong K Chan A H S Ngan S C 2019 The effect of long working hours and overtime on occupational health A meta analysis of evidence from 1998 to 2018 International Journal of Environmental Research and Public Health 16 12 2102 https doi org 10 3390 ijerph16122102 Do you need Help to complete your Capella Uni MSN FlexPath Class in 1 Billing Email Us Contact MSNwritingservices com Website MSNwritingservices com For Free MSN Sample MSNwritingservices com free Sample