Staffing & Labor Costs
Typically the largest expense in a nursing unit budget
What is labor
The term for opening supplies that are never used and must be discarded
What is supply waste
Hospital metric affected when discharging patients early when medically appropriate
What is length of stay
Financial impact avoided when hospital-acquired infections are prevented
What is financial penalties or reduced reimbursement?
The hospital may not be able to do this if care is not documented
What is bill for services?
Staffing option that generally costs the unit the most per hour
A. Float nurse
B. Staff nurse in overtime
C. Travel nurse
D. Per diem nurse
What is a travel nurse
Results when leaving unused supplies in a patient room after discharge
What is supplies must be discarded
Process affected when patients that are ready for discharge but waiting for transportation or uncompleted paperwork
What is patient throughput
Patient falls with injury can increase costs because of this result
What is longer length of stay?
Accurate documentation of patient acuity supports this type of unit staffing
What is acuity-based staffing?
Results from early clock-ins or late clock-outs
What is incidental overtime?
Financial metric increased when multiple procedure supplies are opened "just in case"
What is supply costs or costs per patient day
What is ED boarding?
Reimbursement model that rewards hospitals for quality outcomes and patient satisfaction
What is value-based purchasing?
Failure to document complications or conditions can lead to this financial issue
What is denial of reimbursement?
Staffing action that helps reduce labor costs while supporting the hospital when your unit census drops by 6 patients mid-shift.
What is floating a nurse to another unit
Financial loss incurred when a nurse opens a central line kit but the procedure is canceled
What is supply waste
List two potential financial impacts resulting from a patient remaining in a bed until 5pm when they were discharged at 10 am
What is...
Increased length of stay
Reduced bed availability
Delayed admissions
Name two financial impacts resulting from a patient developing a hospital-acquired pressure injury
What is...
Increased treatment costs
Longer length of stay
Reduced reimbursement
A nurse forgets to document a complex wound requiring advanced treatment, creating this financial risk
What is lost reimbursement or billing denial?
Two nurses call out sick for night shift, you have the following options:
- Bring in a traveler
- Ask staff to stay overtime
- Increase assignments
Name two financial considerations used when making this decision
What are...
Overtime costs
Traveler hourly rates
Patient safety risks
Staff burnout costs
Financial consequence when a unit frequently loses IV pumps or telemetry boxes
What is replacement cost or rental cost
Allows for new admissions and increased hospital revenue
What is bed turnover?
In addition to patient safety, preventing these hospital acquired conditions also prevent reductions in reimbursement
What is falls and pressure injuries?
The reason accurate documentation of patient conditions is important related to hospital revenue
What is ensuring proper coding and reimbursement?