Managing Costs
What is the total health care costs?
“Total health care costs are a function of the price and the utilization rates of health care services (Costs = Price x Utilization)” (Spalding & Tiessen, 2020, p.274)
What is a budget?
“A detailed financial plan for carrying out the activities an organization wants to accomplish for a certain period” (Spalding & Tiessen, 2020, p.281)
What is nursing care delivery model?
“the method used to provide care to patients […] the way in which health care services are delivered” (Sportsman, 2020, p. 293)
What escalates health care costs?
- Price inflation
- Growing labour costs
- Increased use of medical services
(Spalding & Tiessen, 2020, p.275)
What does utilization refer to?
“Utilization refers to the quantity or volume of services provided, such as the number of diagnostic tests undertaken or the number of patient visits (Spalding & Tiessen, 2020, p.274)
What is an operating budget?
“The operating budget is the financial plan for the day-to-day activities of the organization. The expected revenues and expenditures generated from daily operations, given a specified volume of patients (the activity budget) are stated in it” (Spalding & Tiessen, 2020, p.282)
The hallmark “care through others” is part of which model?
Team nursing
(Sportsman, 2020, p. 296)
Someone who evaluates patient outcomes and supervises the interdisciplinary team members.
Clinical Nurse Leader
(Spalding & Tiessen, 2020, p.306)
Name a strategy for cost-conscious nursing practice.
“1. Knowing and controlling costs
2. Using time efficiently
3. Discussing the cost of care with patients
4. Meeting patients rather than provider needs
5. Evaluating the cost-effectiveness of new technologies
6. Predicting and using nursing resources efficiently
7. Using research to evaluate standard nursing practices” (Spalding & Tiessen, 2020, p.281)
What is a capital budget?
“The capital budget reflects expenses related to the purchase of major capital items, such as equipment and physical plant” (Spalding & Tiessen, 2020, p. 284)
What is a setting the model Total Patient Care (Patient Allocation) be used in?
“This model is especially useful in the care of very complex patients who need active symptom management provided by an RN or specially educated nurse – for example, a patient in an acute pain management setting or critical care unit” (Sportsman, 2020, p. 294)
How many hours is equal to one FTE?
37.5 hours
(Spalding & Tiessen, 2020, p.283)
What are the five principles in the Canada Health Act, public plans must comply to?
Public administration, comprehensiveness, universality, portability, and accessibility (Spalding & Tiessen, 2020, p.275)
Money spent on goods and services is called _____
Expenditures
(Spalding & Tiessen, 2020, p.281)
What are outcome criteria?
“Criteria that are the result of patient goals and that are expected to be achieved, and for communicating with all other health care providers about the patient” (Sportsman, 2020, p. 299)
Name a key leadership or management concept when directing patient care?
“- Accountability
- Delegation
- Critical thinking
- Communication
- Promotion of autonomy
- Collaboration” (Sportsman, 2020, p. 312)
Name a health care delivery reform strategy
- Primary health care reform
- Patient-focused funding or activity-based funding
- Regionalization
(Spalding & Tiessen, 2020, p.278)
Name a phase in the budgeting process
1. Gathering information and planning
2. Developing unit and departmental budgets
3. Negotiating and revising
4. Evaluating
The goal in managing “individuals at their maximum level of comfort, functionality, and independence while at the lowest and most appropriate level of intensity of service” (Bower, 2012; as cited in Sportsman, 2020, p. 302) belong to which care delivery strategy?
Nursing Case Management
What is financial thinking?
“When nurses provide high quality care and services, they provide for their patients affect health outcomes positively, and minimize costs”
(Spalding & Tiessen, 2020, p.279)