1
Nursing Budgeting Process
Name
Institution
Course
Instructor
Date
, 2
Nursing Budgeting Process
Budgeting is critical to healthcare organizations' financial stability(Yoder-Wise &
Sportsman, 2022). The nursing budget of a hospital affects patient care, results, and safety. I am
the Chief Nursing Executive; therefore, I am reviewing the nursing budgeting process and
making suggestions to suit current demands. There is a need for Improved patient
communication, results, and safety.
The Budgeting Strategy
The nursing budgeting strategy at my company is primarily driven by the need for
staffing levels and the costs associated with providing evidence-based nursing care. The annual
budget is developed based on projected expenditures (Aydas et al., 2022). The budgeting process
includes input from nursing, human resources, and finance. The yearly forecasts of each
department determine how much of a contribution they make to the budget. The budget must
first be reviewed and approved by top leadership before the board can approve it of directors.
Possible Points of Improvement
I suggest some changes based on my nurse budgeting review. Staffing and the cost of
evidence-based nursing care should be addressed first. While these are essential fiscal items,
patient outcomes, and safety should be prioritized. Patient satisfaction, results, and patient safety
incidents can be used in budgeting (Aydas et al., 2022). The budget supports the organization's
patient safety as well as results goals.
Each department must have a voice in budgeting; nursing, human resources, and finance
all contribute (Lam & Schubert, 2019). However, while developing a budget, it is vital to
consider quality management, risk management, and patient experience. The whole scope of
patient care is considered when the budget is being developed. Technology for budgeting is the
Nursing Budgeting Process
Name
Institution
Course
Instructor
Date
, 2
Nursing Budgeting Process
Budgeting is critical to healthcare organizations' financial stability(Yoder-Wise &
Sportsman, 2022). The nursing budget of a hospital affects patient care, results, and safety. I am
the Chief Nursing Executive; therefore, I am reviewing the nursing budgeting process and
making suggestions to suit current demands. There is a need for Improved patient
communication, results, and safety.
The Budgeting Strategy
The nursing budgeting strategy at my company is primarily driven by the need for
staffing levels and the costs associated with providing evidence-based nursing care. The annual
budget is developed based on projected expenditures (Aydas et al., 2022). The budgeting process
includes input from nursing, human resources, and finance. The yearly forecasts of each
department determine how much of a contribution they make to the budget. The budget must
first be reviewed and approved by top leadership before the board can approve it of directors.
Possible Points of Improvement
I suggest some changes based on my nurse budgeting review. Staffing and the cost of
evidence-based nursing care should be addressed first. While these are essential fiscal items,
patient outcomes, and safety should be prioritized. Patient satisfaction, results, and patient safety
incidents can be used in budgeting (Aydas et al., 2022). The budget supports the organization's
patient safety as well as results goals.
Each department must have a voice in budgeting; nursing, human resources, and finance
all contribute (Lam & Schubert, 2019). However, while developing a budget, it is vital to
consider quality management, risk management, and patient experience. The whole scope of
patient care is considered when the budget is being developed. Technology for budgeting is the
