Financial Management for Nurse Managers and Executives / Edition 4

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Overview

Covering the financial topics all nurse managers need to know and use, this book explains how financial management fits into the healthcare organization. Topics include accounting principles, cost analysis, planning and control management of the organization's financial resources, and the use of management tools. In addition to current issues, this edition also addresses future directions in financial management.

  • Nursing-focused content thoroughly describes health care finance and accounting from the nurse manager’s point of view.
  • Numerous worksheets and tables including healthcare spreadsheets, budgets, and calculations illustrate numerous financial and accounting methods.
  • Chapter opener features include learning objectives and an overview of chapter content to help you organize and summarize your notes.
  • Key concepts definitions found at the end of each chapter help summarize your understanding of chapter content.
  • Suggested Readings found at the end of each chapter give additional reading and research opportunities.
  • NEW! Major revision of chapter 2 (The Health Care Environment), with additions on healthcare reform, initiatives to stop paying for hospital or provider errors, hospice payment, and funding for nursing education; plus updates of health care expenditure and pay for performance; provide a strong start to this new edition.
  • NEW! Major revision of chapter 5 (Quality, Costs, and Financing), with updates to quality-financing, Magnet organizations, and access to care, provides the most up-to-date information possible.
  • NEW! Reorganization and expansion of content in chapter 15 (Performance Budgeting) with updated examples better illustrates how performance budgeting could be used in a pay-for-performance environment.
  • NEW! Major revision of the variance analysis discussion in chapter 16 (Controlling Operating Results) offers a different approach for computation of variances that is easier to understand.
  • NEW! Addition of comparative effectiveness research to chapter 18 (Benchmarking, Productivity, and Cost Benefit and Cost Effectiveness Analysis) covers a recently developed approach informs health-care decisions by providing evidence on the effectiveness of different treatment options.
  • NEW! Addition of nursing intensity weights, another approach for costing nursing services, to chapter 9 (Determining Health Care Costs and Prices), lets you make decisions about what method works best for you.

The book contains black-and-white illustrations.

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Editorial Reviews

Audrey L. Powell
This second edition of a book on financial manangement for nurse managers is an update, expansion, and revision of the 1993 edition to account for managed care, settings beyond acute care, computerization, and the nurse entrepreneur. Giving the nurse the ability to manage better and work in a collegial fashion with financial executives are the ultimate goals of the authors. The aim is to provide a broad overview of financial management for the graduate student or a pertinent reference for the working practitioner. The book is developed sequentially, but each of the seven parts can be used alone. The Balanced Budget Act (BBA) and all of the ramifications for healthcare budgets makes the timing excellent for this global reference. The intended audience is the graduate student, nurse manager, and nurse executive, according to the authors. In my judgment, the book serves equally well as a text or reference. The principal author has over 100 publications to his credit and by education and practice represents current financial concepts and application. The co-author is an educator, author, and nurse. Their two perspectives blend to create a discussion of financial concepts with relevant examples from nursing practice. This book is structured from the global to the specific, which makes it easy for both the student and the practitioner to search to expand upon a financial concept. The addition of performance budgeting is timely and pertinent in the BBA economy. Each chapter has goals, key concepts, and except for Chapter 1, suggested readings. It is not an exhaustive reference, nor did the authors intend it to be. The suggested readings make additional study of a concept easy andreadily available. This second edition is not just new numbers, but a total reworking of an excellent book. Many of the changes are subtle, expansions on concepts that serve across the continuum of care. The examples reflect the change from inpatient to outpatient care settings and acute care to long-term care. The role changes of the nurse manager and nurse executive are also well illustrated. The chapter on performance budgeting alone would justify the purchase of the second edition in my mind. With the emphasis on cost justification in the current healthcare economy, no practitioner can afford to be without this valuable reference as we seek to practice collegially with the CFO in the healthcare environment.
From The Critics
Reviewer: Audrey L. Powell, MSN, RN (Emphraim McDowell Regional Medical Center)
Description: This second edition of a book on financial manangement for nurse managers is an update, expansion, and revision of the 1993 edition to account for managed care, settings beyond acute care, computerization, and the nurse entrepreneur.
Purpose: Giving the nurse the ability to manage better and work in a collegial fashion with financial executives are the ultimate goals of the authors. The aim is to provide a broad overview of financial management for the graduate student or a pertinent reference for the working practitioner. The book is developed sequentially, but each of the seven parts can be used alone. The Balanced Budget Act (BBA) and all of the ramifications for healthcare budgets makes the timing excellent for this global reference.
Audience: The intended audience is the graduate student, nurse manager, and nurse executive, according to the authors. In my judgment, the book serves equally well as a text or reference. The principal author has over 100 publications to his credit and by education and practice represents current financial concepts and application. The co-author is an educator, author, and nurse. Their two perspectives blend to create a discussion of financial concepts with relevant examples from nursing practice.
Features: This book is structured from the global to the specific, which makes it easy for both the student and the practitioner to search to expand upon a financial concept. The addition of performance budgeting is timely and pertinent in the BBA economy. Each chapter has goals, key concepts, and except for Chapter 1, suggested readings. It is not an exhaustive reference, nor did the authors intend it to be. The suggested readings make additional study of a concept easy and readily available.
Assessment: This second edition is not just new numbers, but a total reworking of an excellent book. Many of the changes are subtle, expansions on concepts that serve across the continuum of care. The examples reflect the change from inpatient to outpatient care settings and acute care to long-term care. The role changes of the nurse manager and nurse executive are also well illustrated. The chapter on performance budgeting alone would justify the purchase of the second edition in my mind. With the emphasis on cost justification in the current healthcare economy, no practitioner can afford to be without this valuable reference as we seek to practice collegially with the CFO in the healthcare environment.

4 Stars! from Doody
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Product Details

  • ISBN-13: 9781455700882
  • Publisher: Elsevier Health Sciences
  • Publication date: 8/10/2012
  • Edition description: New Edition
  • Edition number: 4
  • Pages: 432
  • Sales rank: 139,784
  • Product dimensions: 8.56 (w) x 10.72 (h) x 0.64 (d)

Table of Contents

Part I: A Financial Management Framework 1. Introduction and Overview 2. The Health Care Environment 3. The Role of Financial Management and Nurse Leadership in Health Care Organizations 4. Key Issues in Applied Economics 5. Quality, Costs, and Financing

Part II: Financial Accounting 6. Accounting Principles 7. Analysis of Financial Statement Information

Part III: Cost Analysis 8. Cost Management 9. Determining Health Care Costs and Prices 10. Costs and Other Issues Related to Recruiting and Retaining Staff

Part IV: Planning and Control 11. Strategic Management 12. Budgeting Concepts 13. Operating Budgets 14. Revenue Budgeting 15. Performance Budgeting 16. Controlling Operating Results 17. Variance Analysis: Examples, Extensions, and Caveats 18. Benchmarking, Productivity, and Cost-Benefit and Cost-Effectiveness Analysis

Part V: Managing Financial Resources 19. Short-Term Financial Resources 20. Long-Term Financial Resources

Part VI: Looking to the Future 21. Forecasting 22. The Nurse as Entrepreneur 23. Nursing and Financial Management: Current Issues and Future Directions

Glossary

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