Budgeting helps to ensure that these are available at the appropriate time.
What are resources (money, time, people)?
100
A nurse leader in the cardiac cath lab has marketed their services to the community resulting in extra revenue for the hospital. Based on this information the cath lab would be considered this type of center.
What is a profit center or revenue center?
100
Position control is a budgeting technique used by the nurse leader to determine this.
What is the difference between budgeted FTEs and actual FTEs?
100
This is the accrediting body (organization) responsible for making sure that hospitals and nursing units maintain adequate staffing for patient safety. Especially important for States that do not have mandated staffing ratios!
What is the Joint Commission (TJC)?
100
The operating budget for an organization is the projection of these two things for the coming year.
What are revenues and expenses?
200
This information is vital for an organization to know when planning the budget.
What is demographics of population served; community influences, competitors, and revenue sources?
200
The nurse manager who uses this approach to budgeting would receive a spread sheet listing each expense item or category used on the unit for that month.
What is incremental or line-by-line budgeting?
200
The difference between budgeted costs and actual costs.
What is the budget variance?
200
One way the nurse leader can reduce OT hours is by using this strategy.
What is use of part-time or per diem staff, or evaluating unit productivity?
200
In hospitals, nursing units are usually considered this type of center.
What is a cost center?
300
This type of statistical data would be important to include when planning a future budget.
What is # of admissions; average daily census; ALOS; pt acuity; projected occupancy; wage increases; price increases; new equipment needs; regulatory changes?
300
A manager over a medical surgical unit who is responsible for predicting, documenting, and managing budget expenditures would be considered this type of center.
What is a cost center?
300
This type of budget would be used to purchase new telemetry monitors for the cardiac unit.
What is the capital budget?
300
Replacement FTEs can be calculated by determining the number of replacement hours and dividing them by this number of hours/shift in a year.
What is 2080?
300
Revenue for hospitals might be paid in this way.
What is fixed cost per case (DRG); per diem rates; negotiated discounts; capitation?
400
This term refers to the number and type of workers used on a nursing unit and might include RNs, LVNs, and CNAs.
What is staff mix?
400
With this type of budget, the nursing unit receives more money for the budget when patient census and acuity increases.
What is variable or flex budget?
400
Overhead and maintenance costs would be considered in this type of budget.
What is the nonsalary expense budget?
400
In addition to direct salary expenses, this additional indirect expense must also be considered part of the salary budget.
What are benefits (vacation, holidays, personal days); OT; shift differentials; on call; bonuses?
400
This type of cost would be used only for patient care.
What is a direct cost?
500
A common starting point for projecting a future budget is this.
What is the past?
500
The past budget (expenses and revenues) is not used when employing this budgeting strategy.
What is zero-based budgeting?
500
This type of variance represents the difference between budgeted and actual nursing care hours (HPPD) provided?
What is an efficiency variance?
500
In one week the oncology unit pays 200 hours for RNs, 100 hours for LVNs, and 100 hours for CNAs. The manager calculates that this many FTEs were used.
What is 10 FTEs?
500
This type of cost remains the same regardless of patient census.