MSN6216 – Advanced Finance and Operations Management
Unit 1 Discussion
DQ1 Allocation of Resources
Discuss the concept of market in facilitating efficient allocation of health care resources. Provide one specific example of how you, as a nurse leader, will apply this concept to the financial management and operation of a health care facility or unit.
How does market relate to demand?
What demand shifters are factors in your facility or unit?
Are these factors that nurse leaders can influence?
Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.
Response Guidelines
Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses. Your responses are expected to be substantive in nature. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.
As you contemplate your response, consider the following questions:
In what respects are the demand shifters that affect your facility similar to or different from those your colleague identified?
How does your view align with that of your colleague regarding the nurse leader’s influence over factors affecting resource allocation?
Learning Components
This activity will help you achieve the following learning components:
Identify the factors that determine effective allocation of resources.
Identify required resources for labor, equipment, and services.
Apply the principles of effective composition.
Proofread and edit written communications.
DQ2 GDP and Health Care
Discuss the portion of the U.S. gross domestic product (GDP) comprising U.S. health care expenditures.
What must change in the U.S. health care delivery system with regard to patient care and the costs of that care?
How can the reality of utility complicate or reinforce these changes?
Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.
Response Guidelines
Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses. Your responses are expected to be substantive in nature. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.
As you contemplate your response, consider the following questions:
Do you agree with your colleague’s assessment of needed changes in U.S. health care?
Why or why not?
Do they have credible evidence for their claims?
What counterarguments might you present?
What additional thoughts can you offer about the prospects for change?
Learning Components
This activity will help you achieve the following learning components:
Proofread and edit written communications.
Identify the major factors affecting staffing and productivity.
Apply the principles of effective composition.
Define and describe financial goals.
Identify factors affecting the budget.
MSN6216 – Advanced Finance and Operations Management
Unit 2 Discussion
DQ1 MCOs and PPOs
Compare and contrast managed care organizations (MCOs) and preferred provider organizations (PPOs).
How do these models of care affect your role as a nurse leader in managing health care delivery?
What cost-saving strategies are utilized in the two models?
How do these strategies function to control health insurance costs?
Provide a concrete example of how capitation can control health care costs.
Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.
Response Guidelines
Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses. Your responses are expected to be substantive in nature. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.
As you contemplate your response, consider the following questions:
Do these models of care affect how you manage the delivery of care differently from that of your colleague?
If so, in what ways, and why?
What cost-saving strategies has your colleague overlooked, if any?
Can you elaborate on your colleague’s capitation example, or offer different examples?
Learning Components
This activity will help you achieve the following learning components:
Proofread and edit written communications.
Apply the principles of effective composition.
Identify the basic principles of effective budget management.
Identify the sources of budgetary data and information.
Identify effective budget management techniques.
DQ2 Importance of Nurse Mentors in Professional Development
Describe two or three areas where you feel a mentor could help you grow as a professional and assist you in becoming a better financial manager.
Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.
Response Guidelines
Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses. Your responses are expected to be substantive. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.
As you contemplate your response, consider the following questions:
What has been your experience as either a nurse mentor or mentee?
To what extent did these experiences involve financial management?
Were these experiences generally positive or negative? Why?
What do you consider to be the most valuable aspect of nurse mentorship with regard to financial management?
Learning Components
This activity will help you achieve the following learning components:
Apply the principles of effective composition.
Determine the impact of budget management on financial planning.
Proofread and edit written communications.
Identify effective budget management techniques.
MSN6216 – Advanced Finance and Operations Management
Unit 3 Discussion
Capital and Operational Budgets
Capital and operational budgets each play a major role in the financial expenditures of nursing units. For this discussion:
Explain the purpose and use of each type of budget.
Describe your experience with either type of budget.
Have you prepared or contributed to the development of one of these budgets?
How have one or the other of these two budgets affected the provision of care in your organization or unit?
Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.
Response Guidelines
Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses. Your responses are expected to be substantive in nature. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.
As you contemplate your response, consider:
How might you elaborate on your colleague’s explanation?
How does your experience with these budgets compare to that of your colleague?
How are these budgets related to an organization’s strategic goals?
Learning Components
This activity will help you achieve the following learning components:
Apply the principles of effective composition.
Identify assumptions underlying a budget.
Distinguish between an operations budget and a capital budget.
Identify alignment between the budget and the organization’s mission.
Proofread and edit written communications.
MSN6216 – Advanced Finance and Operations Management
Unit 4 Discussion
DQ1 Budget Preparation
For this discussion, imagine you have taken a new position as a nurse leader for a long-term care facility and it is your first week on the job. Your manager has asked you to develop the budget worksheet for next week’s budget meeting with the board of directors. You have never prepared a budget and are feeling anxious regarding this process.
Describe your strategy for dealing with this request?
What resources will you leverage?
How will health care informatics and technology assist in the creation of a budget?
Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.
Response Guidelines
Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses. Your responses are expected to be substantive in nature. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.
As you contemplate your response, consider the following questions:
How does your experience with developing the budget worksheet compare with that of your colleague?
What suggestions or recommendations can you offer to help your colleague strengthen their budgeting skills?
What resources have you found to be useful in preparing a budget worksheet that you would recommend?
Learning Components
This activity will help you achieve the following learning components:
Determine resource needs.
Determine primary sources of budget information.
Identify factors affecting the budget.
Identify assumptions underlying a budget.
Proofread and edit budget data and information.
Apply the principles of effective composition.
DQ2 Inadequate Budgets
You are the nurse leader on a busy medical-surgical unit and have been experiencing a vacancy rate of 20 percent for RNs on the unit. The patient satisfaction feedback and evaluation scores are quite low, and you believe this is related to having an inadequate budget to meet the unit goals.
Describe your strategy, as the nurse leader, for applying finance principles to achieve organizational goals and fiscal success for your unit.
Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.
Response Guidelines
Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses. Your responses are expected to be substantive in nature. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.
As you contemplate your response, consider the following questions:
How does your experience with developing strategies to achieve organizational goals and fiscal success compare with that of your colleague?
What suggestions or recommendations can you offer to help your colleague strengthen their strategies for improving fiscal success?
What resources have you found to be useful in developing your strategies that you would recommend?
Learning Components
This activity will help you achieve the following learning components:
Determine how a department, unit, or project aligns with the mission and goals of an organization.
Determine budget allowances.
Identify the mission and goals of an organization.
Identify available resources.
Identify strategic objectives.
Identify productivity goals.
Identify factors affecting the budget.
Recognize budgetary limits.
Determine resource needs.
Apply the principles of effective composition.
Proofread and edit budget data and information.
MSN6216 – Advanced Finance and Operations Management
Unit 5 Discussion
Budget Design
In this unit’s assignment, you will submit an operating budget. Discuss your experience of designing the budget.
Describe what parts of the process were areas of strength for you.
What factors contribute to those strengths?
Describe areas of weakness.
What resources can you use to improve your skills in those areas?
How has your concept of budget creation changed over the course of completing this assignment?
Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.
Response Guidelines
Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses. Your responses are expected to be substantive in nature. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.
As you contemplate your response, consider the following questions:
How does your experience with budget design compare with that of your colleague?
What suggestions or recommendations can you offer to help your colleague strengthen their budgeting skills?
What resources have you found to be useful in preparing an operating budget that you would recommend?
Learning Components
This activity will help you achieve the following learning components:
Apply the principles of effective composition.
Proofread and edit budget data and information.
MSN6216 – Advanced Finance and Operations Management
Unit 6 Discussion
DQ1 Approach to Capital Budgets
In the final assignment for this course, you will prepare a capital budget for a proposed renovation project. For this discussion:
Explain how you will approach the process of designing the budget.
What steps will you need to take?
What resources will you access?
Will you collaborate with other executives or staff?
How will you tie the vision for the capital expenditure to the organization’s mission and goals?
Describe the real-world timeline for development of a capital budget, outside the context of this course.
Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.
Response Guidelines
Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses. Your responses are expected to be substantive in nature. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.
As you contemplate your response, consider the following questions:
How does your approach compare to that of your colleague?
What might account for major differences in approach, if any?
Does your colleague have a strong case for supporting the organization’s mission and goals?
Is your colleague’s budget development timeline reasonable?
If not, what factors might they have overlooked?
Learning Components
This activity will help you achieve the following learning components:
Identify fiscal performance goals and metrics.
Identify strategic objectives.
Determine how a department, unit, or project aligns with the mission and goals of an organization.
Identify the mission and goals of an organization.
Apply the principles of effective composition.
Identify information sources.
Proofread and edit written communications.
Determine the need for particular assets, equipment, services, or goods.
DQ2 Financial Communication Skills
Communicating your vision for a project to administrative leaders is an important skill as a nurse leader. The administration will need to understand the correlation between a proposed project, product, or service, and their overall goals. For this discussion:
Explain your approach to developing a capital budget and accompanying strategic plan for profitability and fiscal success.
What issues and challenges do you envision a nurse leader facing during the process?
Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.
Response Guidelines
Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses. Your responses are expected to be substantive in nature. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.
As you contemplate your response, consider the following questions:
What are the strengths and weaknesses of your colleague’s approach?
What tips or suggestions can you offer?
What additional issues or challenges do you foresee?
What advice or recommendations can you offer regarding effective communications with executive leaders?
Learning Components
This activity will help you achieve the following learning components:
Identify fiscal performance goals and metrics.
Identify strategic objectives.
Identify the mission and goals of an organization.
Proofread and edit written communications.
Determine how specific equipment and services contribute to organizational goals.
Apply the principles of effective composition.
Determine how a department, unit, or project aligns with the mission and goals of an organization.
MSN6216 – Advanced Finance and Operations Management
Unit 7 Discussion
New Product Launch
Discuss the relevance and importance of a business plan for launching a new product or service line.
Why must nurse leaders be comfortable and competent in creating business plans?
Describe two benefits of having a business plan prior to the launch.
Why must nurse leaders assist the organization in making strategic business decisions for new products or service lines?
Provide an example of a new product or service line that would enhance patient care, and explain how a business plan strengthens the proposal for that acquisition.
Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.
Response Guidelines
Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses. Your responses are expected to be substantive in nature. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.
As you contemplate your response, consider the following questions:
Do you agree or disagree with your colleague’s position on why nurse leaders must be competent in creating business plans? Why or why not?
What additional benefits of a business plan do you see as important that you could share with your colleague?
What are the implications for the organization if nurse leaders are not included in strategic decision making about a new product or service line?
Learning Components
This activity will help you achieve the following learning components:
Identify strategic objectives.
Proofread and edit written communications.
Apply the principles of effective composition.
Identify the mission and goals of an organization.
Determine the need for particular assets, equipment, services, or goods.
Identify productivity goals.
Identify fiscal performance goals and metrics.
Determine how specific equipment and services contribute to organizational goals.
Determine how a department, unit, or project aligns with the mission and goals of an organization.
MSN6216 – Advanced Finance and Operations Management
Unit 8 Discussion
Financial Accounting
Discuss the role of the nurse leader in financial accounting and reporting processes in the organization.
How are audits planned and conducted in health care budgeting and finance?
What challenges do you anticipate in the audit process?
Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.
Response Guidelines
Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses. Your responses are expected to be substantive in nature. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.
As you contemplate your response, consider the following questions:
Do you agree with your colleague’s perspective on a nurse leader’s role in financial accounting? Why or why not?
How does your colleague’s description of the auditing process compare with your own experience or knowledge of the process?
Can you offer any suggestions for addressing potential challenges or preparing for an audit?
Learning Components
This activity will help you achieve the following learning components:
Determine the time period for cost recovery.
Determine the depreciation value of the capital assets, equipment, services, or goods.
Apply the principles of effective composition.
Proofread and edit written communications.
DQ2 Reporting and Documentation
Your facility follows the Centers for Medicare and Medicaid Services (CMS) standards of care and partners with this agency for reimbursement, once its guidelines are documented as having been met. Your unit is within the window for its CMS survey (inspection), and as the nurse leader you are responsible for preparing your staff for the survey.
Consider your priorities. What key issues will you address as you prepare your staff?
Does your institution partner with CMS in meeting core measures?
Is the documentation related to meeting standards of care appropriate?
Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.
Response Guidelines
Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses. Your responses are expected to be substantive in nature. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.
As you contemplate your response, consider:
The influence of core measures in your own practice environment.
The nurse leader’s accountability with regard to the survey process.
Learning Components
This activity will help you achieve the following learning components:
Define and describe financial goals.
Identify the sources of budgetary data and information.
Apply the principles of effective composition.
Proofread and edit written communications.
MSN6216 – Advanced Finance and Operations Management
Unit 9 Discussion
Return on Investment
Return on investment (ROI) is a common measure of the profitability of a capital project. Simply put, it is the ratio of benefits to costs. The benefit realized from the investment is divided by the cost of that investment. In this discussion, you will explore the concept of ROI from a personal perspective to illustrate how financial decision makers consider a major capital expenditure that you might propose.
The nursing profession is often viewed as a discipline that offers opportunities to grow and reap potential benefits or rewards for both the individual and the people to whom services are provided. In this context, the ROI could be viewed as a comparison of the time and expense nurses invest in continuing professional education and the benefits to patients that result from changes in an organizational culture more focused on safety, positive patient outcomes, or several other important aspects of health care.
Consider your role in your current practice setting:
Identify a major investment that you might make in your professional growth and development, for example, new technology or equipment, or perhaps further education of some type.
What might you expect as a fair return on your investment, on both a personal and professional level, that would justify the cost?
What criteria might a particular health care organization or service provider apply to evaluate the return on a capital investment?
Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.
Response Guidelines
Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses.Your responses are expected to be substantive in nature. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.
As you contemplate your response, consider the following questions:
How does your idea of an acceptable return on investment compare to that of your colleague?
Can you offer any examples of ROI decisions that you have experience with, or knowledge of?
Learning Components
This activity will help you achieve the following learning components:
Determine a return on investment.
Determine the depreciation value of the capital assets, equipment, services, or goods.
Determine the time period for cost recovery.
Calculate costs.
Determine the benefits of a capital expenditure.
Apply the principles of effective composition.
Proofread and edit written communications.
MSN6216 – Advanced Finance and Operations Management
Unit 10 Discussion
DQ1 Capital Budget Review and Feedback
For this discussion, post a copy of your capital budget documents to the discussion board for review and feedback from your colleagues.
Ensure that your discussion post is adequate in length by following the requirements for postings found in the Faculty Expectations Message (FEM). In addition, be sure to cite at least one source from the assigned readings or other professional and scholarly literature, as applicable, to support your position, substantiate a claim, or when referring to the ideas or work of others.
Response Guidelines
Read as many posts as time allows. Respond to the required number of peers and use the word count stated in the FEM, preferably responding to posts that have had few or no responses. Your responses are expected to be substantive in nature. You are encouraged to ask questions, elaborate on a particular point, offer an alternative viewpoint, or add comments that extend or sustain the dialog. Remember to cite your sources, as applicable.
As you prepare your comments and feedback on your colleague’s capital budget, consider the following questions:
If you were asked to approved your colleague’s budget, do you find the justification convincing?
Is the budget complete?
If not, what line items are missing?
How would you assess your colleague’s plan for managing the budget and addressing budget variances?
Is this capital expenditure a sound financial investment?
Why or why not?
Would you approve this budget?
Learning Components
This activity will help you achieve the following learning components:
Apply appropriate criteria to budget evaluation.
Analyze a capital budget.
Determine the benefits of a capital expenditure.
Determine the need for particular assets, equipment, services, or goods.
Proofread and edit written communications.
Apply the principles of effective composition.
DQ2 Self-Reflection
There is power in self-reflection at all levels of nursing. This week provides an opportunity for you to focus on how you have met each of the course competencies. Include examples of how the learning activities and assignments in this course helped you develop those competencies.
In addition, address the following questions:
What lessons learned from your experience designing an operating budget will you be able to apply in your professional practice?
What insights have you gained that will help you better manage a nursing staff, given the inevitable budget constraints and demand for increasing productivity?
What lessons learned from your experience designing a capital budget will you be able to apply in your professional practice?
How can you apply what you have learned in your professional practice with regard to best practices for determining equipment and services needs?
What insights into the strategic aspect of financial planning will be of use to you in your professional practice?
What questions rema
Recent Comments