NR 533 WEEK 4 LESSON READINGS
QUESTIONS AND ANSWERS
Week 4: Operational Budgets
Prerequisites: Student Attestation, Course Pre-Assessment
Week 4: Introduction
Week 4: Introduction
Week 4: Reading
Week 4: Reading
Mar 31
Required readings: https://chamberlain.instructure.com/courses/40538/assignments/1284162?module_item_id=4991237
Week 4: Lesson
Table of Contents
Operational Budgets
Introduction
A major responsibility of the nurse manager or nurse executive is managing the
operational budget. This week's lesson focuses on applying basic financial principles to
develop the operational budget. The two major components of the operational budget,
employee and nonemployee expenses, will be explored in depth and applied. In addition,
how variances can impact the operational budget will be examined.
Overview
Week 4: Lesson:
Two videos: Transcript - Part 1 [18 min:32 sec]; Transcript - Part 2 [Expense Budget/supplies:7 min:13 sec]25 min
https://chamberlain.instructure.com/courses/40538/pages/week-4-lesson?module_item_id=4991239
Forecasting: (e.g., rent, office staff, professional development: indirect (laundry overhead cost); salary, rent, volume cost).
Budget terms/calculation: https://chamberlain.instructure.com/courses/40538/pages/week-4-lesson?module_item_id=4991239
Will need to watch previous 3 videos; Week 3: Budget (17:58): vision, mission, strategic plan; next yr’s revenue:
forecasting
Week 1: Lesson
Table of Contents
, Healthcare Systems Financial Environment
Introduction
How did our healthcare financial system get to where it is today? This week's lesson
provides the historical perspective on the current healthcare systems' financial
environments. Policy that led to the current payment systems, a look at what might
develop in the future, and potential challenges to the system are explored.
Overview
Week 1—Video: 14 min:25 sec https://chamberlain.instructure.com/courses/40538/pages/week-1-
lesson?module_item_id=4991193
Week 2: Lesson
Table of Contents
Quality, Cost Containment, and Access to Healthcare
Introduction
How are payment systems related to quality, cost containment, and access to healthcare?
This week's lesson focuses on the goal of the Triple Aim and how it is impacted by various
reimbursement issues within our current healthcare financial systems.
Review: Revenue calculation example!
https://chamberlain.instructure.com/courses/40538/pages/week-2-lesson?module_item_id=4991204
Overview
Week 3: Lesson
Week 3: Financial Management [Video: 17 min. 58 sec]
Introduction
Every nurse manager needs to be familiar with the basic principles of finance and budgeting related to the
healthcare systems and delivery. This week, our lesson helps us move into the explicit elements of financial
management. Our focus will be on differentiating among the different types of budgets, their purposes, who
controls them, and the nurse executive's role in managing them.
https://chamberlain.instructure.com/courses/40538/pages/week-3-lesson?module_item_id=4991215
Overview
[Video: Week 3—Benchmarking note: Plan, do, study, act (re-evaluate)]
Week 4: Lesson
QUESTIONS AND ANSWERS
Week 4: Operational Budgets
Prerequisites: Student Attestation, Course Pre-Assessment
Week 4: Introduction
Week 4: Introduction
Week 4: Reading
Week 4: Reading
Mar 31
Required readings: https://chamberlain.instructure.com/courses/40538/assignments/1284162?module_item_id=4991237
Week 4: Lesson
Table of Contents
Operational Budgets
Introduction
A major responsibility of the nurse manager or nurse executive is managing the
operational budget. This week's lesson focuses on applying basic financial principles to
develop the operational budget. The two major components of the operational budget,
employee and nonemployee expenses, will be explored in depth and applied. In addition,
how variances can impact the operational budget will be examined.
Overview
Week 4: Lesson:
Two videos: Transcript - Part 1 [18 min:32 sec]; Transcript - Part 2 [Expense Budget/supplies:7 min:13 sec]25 min
https://chamberlain.instructure.com/courses/40538/pages/week-4-lesson?module_item_id=4991239
Forecasting: (e.g., rent, office staff, professional development: indirect (laundry overhead cost); salary, rent, volume cost).
Budget terms/calculation: https://chamberlain.instructure.com/courses/40538/pages/week-4-lesson?module_item_id=4991239
Will need to watch previous 3 videos; Week 3: Budget (17:58): vision, mission, strategic plan; next yr’s revenue:
forecasting
Week 1: Lesson
Table of Contents
, Healthcare Systems Financial Environment
Introduction
How did our healthcare financial system get to where it is today? This week's lesson
provides the historical perspective on the current healthcare systems' financial
environments. Policy that led to the current payment systems, a look at what might
develop in the future, and potential challenges to the system are explored.
Overview
Week 1—Video: 14 min:25 sec https://chamberlain.instructure.com/courses/40538/pages/week-1-
lesson?module_item_id=4991193
Week 2: Lesson
Table of Contents
Quality, Cost Containment, and Access to Healthcare
Introduction
How are payment systems related to quality, cost containment, and access to healthcare?
This week's lesson focuses on the goal of the Triple Aim and how it is impacted by various
reimbursement issues within our current healthcare financial systems.
Review: Revenue calculation example!
https://chamberlain.instructure.com/courses/40538/pages/week-2-lesson?module_item_id=4991204
Overview
Week 3: Lesson
Week 3: Financial Management [Video: 17 min. 58 sec]
Introduction
Every nurse manager needs to be familiar with the basic principles of finance and budgeting related to the
healthcare systems and delivery. This week, our lesson helps us move into the explicit elements of financial
management. Our focus will be on differentiating among the different types of budgets, their purposes, who
controls them, and the nurse executive's role in managing them.
https://chamberlain.instructure.com/courses/40538/pages/week-3-lesson?module_item_id=4991215
Overview
[Video: Week 3—Benchmarking note: Plan, do, study, act (re-evaluate)]
Week 4: Lesson
