NR711 Week 5 Discussion | Operating Budget

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NR711 Week 5 Discussion | Operating Budget – Step-by-Step Guide With Example Solution

The first step before starting to write the NR711 Week 5 Discussion | Operating Budget is to understand the requirements of the assignment. The first step is to read the assignment prompt carefully to identify the topic, the length and format requirements. You should go through the rubric provided so that you can understand what is needed to score the maximum points for each part of the assignment. 

It is also important to identify the paper’s audience and purpose, as this will help you determine the tone and style to use throughout. You can then create a timeline to help you complete each stage of the paper, such as conducting research, writing the paper, and revising it to avoid last-minute stress before the deadline. After identifying the formatting style to be applied to the paper, such as APA, review its use, including writing citations and referencing the resources used. You should also review the formatting requirements for the title page and headings in the paper, as outlined by Chamberlain University.

How to Research and Prepare for NR711 Week 5 Discussion | Operating Budget

The next step in preparing for your paper is to conduct research and identify the best sources to use to support your arguments. Identify a list of keywords related to your topic using various combinations. The first step is to visit the Chamberlain University library and search through its database using the important keywords related to your topic. You can also find books, peer-reviewed articles, and credible sources for your topic from the Chamberlain University Library, PubMed, JSTOR, ScienceDirect, SpringerLink, and Google Scholar. Ensure that you select the references that have been published in the last 5 years and go through each to check for credibility. Ensure that you obtain the references in the required format, such as APA, so that you can save time when creating the final reference list. 

You can also group the references according to their themes that align with the outline of the paper. Go through each reference for its content and summarize the key concepts, arguments and findings for each source. You can write down your reflections on how each reference connects to the topic you are researching. After the above steps, you can develop a strong thesis that is clear, concise and arguable. Next, create a detailed outline of the paper to help you develop headings and subheadings for the content. Ensure that you plan what point will go into each paragraph.

How to Write the Introduction for NR711 Week 5 Discussion | Operating Budget

The introduction of the paper is the most crucial part, as it helps provide the context of your work and determines whether the reader will be interested in reading through to the end. Begin with a hook, which will help capture the reader’s attention. You should contextualize the topic by offering the reader a concise overview of the topic you are writing about so that they may understand its importance. You should state what you aim to achieve with the paper. The last part of the introduction should be your thesis statement, which provides the main argument of the paper.

How to Write the Body for NR711 Week 5 Discussion | Operating Budget

The body of the paper helps you to present your arguments and evidence to support your claims. You can use headings and subheadings developed in the paper’s outline to guide you on how to organize the body. Start each paragraph with a topic sentence to help the reader know what point you will be discussing in that paragraph. Support your claims using the evidence collected from the research, and ensure that you cite each source properly using in-text citations. You should analyze the evidence presented and explain its significance, as well as how it relates to the thesis statement. You should maintain a logical flow between paragraphs by using transition words and a flow of ideas.

How to Write the In-text Citations for NR711 Week 5 Discussion | Operating Budget

In-text citations help readers give credit to the authors of the references they have used in their work. All ideas that have been borrowed from references, any statistics and direct quotes must be referenced properly. The name and date of publication of the paper should be included when writing an in-text citation. For example, in APA, after stating the information, you can put an in-text citation after the end of the sentence, such as (Smith, 2021). If you are quoting directly from a source, include the page number in the citation, for example (Smith, 2021, p. 15). Remember to also include a corresponding reference list at the end of your paper that provides full details of each source cited in your text. An example paragraph highlighting the use of in-text citations is as below:

“The integration of technology in nursing practice has significantly transformed patient care and improved health outcomes. According to Morelli et al. (2024), the use of electronic health records (EHRs) has streamlined communication among healthcare providers, allowing for more coordinated and efficient care delivery. Furthermore, Alawiye (2024) highlights that telehealth services have expanded access to care, particularly for patients in rural areas, thereby reducing barriers to treatment.”

How to Write the Conclusion for NR711 Week 5 Discussion | Operating Budget

When writing the conclusion of the paper, start by restating your thesis, which helps remind the reader what your paper is about. Summarize the key points of the paper by restating them. Discuss the implications of your findings and your arguments. Conclude with a call to action that leaves a lasting impression on the reader or offers recommendations.

How to Format the Reference List for NR711 Week 5 Discussion | Operating Budget

The reference helps provide the reader with the complete details of the sources you cited in the paper. The reference list should start with the title “References” on a new page. It should be aligned center and bolded. The references should be organized in an ascending order alphabetically, and each should have a hanging indent. If a source has no author, it should be alphabetized by the title of the work, ignoring any initial articles such as “A,” “An,” or “The.” If you have multiple works by the same author, list them in chronological order, starting with the earliest publication. 

Each reference entry should include specific elements depending on the type of source. For books, include the author’s last name, first initial, publication year in parentheses, the title of the book in italics, the edition (if applicable), and the publisher’s name. For journal articles, include the author’s last name, first initial, publication year in parentheses, the title of the article (not italicized), the title of the journal in italics, the volume number in italics, the issue number in parentheses (if applicable), and the page range of the article. For online sources, include the DOI (Digital Object Identifier) or the URL at the end of the reference. An example reference list is as follows:

References

Morelli, S., Daniele, C., D’Avenio, G., Grigioni, M., & Giansanti, D. (2024). Optimizing telehealth: Leveraging Key Performance Indicators for enhanced telehealth and digital healthcare outcomes (Telemechron Study). Healthcare, 12(13), 1319. https://doi.org/10.3390/healthcare12131319

Alawiye, T. (2024). The impact of digital technology on healthcare delivery and patient outcomes. E-Health Telecommunication Systems and Networks, 13, 13-22. 10.4236/etsn.2024.132002.

NR711 Week 5 Discussion | Operating Budget Instructions

Purpose

The purpose of this discussion is to explore the role DNP-prepared nurse in creating a budget, effective financial planning, and determining the allocation of resources. Have a look at NR711 Week 6 Discussion | Financial Analysis.

Instructions

Reflect upon your readings and professional experience and examine the role of the DNP-prepared department or organizational leader in navigating the following:

  1. Planning and executing the operating budget
  2. Controlling cost overruns and overtime
  3. Explaining variances: i.e., Defending overtime hours associated with patient census or acuity fluctuations
  4. Securing funds for staff’s ongoing competency training and professional development

Please click on the following link to review the DNP Discussion Guidelines on the Student Resource Center program page:

  • Link (webpage): DNP Discussion Guidelines.
Program Competencies

This discussion enables the student to meet the following program competencies:

  1. Integrates scientific underpinnings into everyday clinical practice. (POs 3, 5)
  2. Uses analytic methods to translate critically appraised research and other evidence into clinical scholarship for innovative practice improvements. (POs 3, 5)
  3. Appraises current information systems and technologies to improve healthcare. (POs 6, 7)
  4. Analyzes healthcare policies to advocate for equitable healthcare and social justice to all populations and those at risk due to social determinants of health. (POs 2, 9)
  5. Leads others in professional identity, advanced clinical judgment, systems thinking, resilience, and accountability in selecting, implementing, and evaluating clinical care. (POs 1, 4)
Course Outcomes

This discussion enables the student to meet the following course outcomes:

  1. Examine the role of the DNP-prepared nurse in leading financial planning and management across healthcare settings. (PCs 5, 8; POs 2, 4, 9)
  2. Develop strategies to lead project planning, implementation, management, and evaluation to promote high-value healthcare. (PCs 1, 3, 4; POs 3, 5, 7)

NR711 Week 5 Discussion | Operating Budget Example

This course explores the operational and business face of nursing leadership and management. In this discussion, I will explain how a nurse leader plans and executes budgets, controls costs, explains variances, and provides ongoing training and development.

Nurse managers and executives are given tasks to manage and operate a budget for nursing services. This can range from a few hundred to almost a thousand employees within a single division. As a healthcare organization, we have one of the most extensive systems in the United States, with nearly a thousand-bed capacity and an expansion plan to hold even more. As an organization, this means we require an extensive workforce to deliver care.

Since I have not had the experience to explain this further, I took the opportunity to observe my executive director in operationalizing a nursing business. Upon operationalizing, she is given a budget by the finance division to work around, and every fiscal year is assessed through staffing and non-staffing needs. With a budget of almost $ 200 million, she meticulously reviewed the status of expenditures and identified areas for improvement.

Staffing is the highest expenditure, and understanding FTE and direct patient care also made me know the required number of nurses in the unit. Sadly, these skills are not embedded in nursing practice, leaving nurse leaders to be more competent in managing the financial aspects of healthcare. As a result, organizations often look for individuals with business backgrounds to oversee nursing operations, requiring them to have sufficient training to develop their skills (Naranjee et al., 2019).

We are also challenged in the workforce, such as overtime, which is preventable but not absent. Clinical bedside can be challenging and daunting due to patients’ fluctuations in acuity, which require more hours than projected. In our hospital, we ensure that charge nurses are trained to create assignments based on the computational metrics of a patient’s illness and the projected nursing needs.

For example, our brain step-downs, lumbar drain management, and externalized ventricular drain will have a 3:1 ratio, while telemetry is 4:1, and any other medical-surgical patient has a 5:1 max. These ratios are placed at different nursing levels, and their competency ensures that we create a culture of working smart rather than working overtime. This also creates an environment where overtime is discouraged, and nursing competency is essential (Son et al., 2019).

As a six-time Magnet hospital, it is embedded in our culture that we develop nurses and provide the resources. Hakvoort et al. (2022) have reviewed nearly sixty articles that identified six groups of nurses: new graduates, experienced nurses, and nurses with the ambition to advance their roles, as well as the factors that affect their continuing professional development. Being accepted and working in an environment of incivility affects both new graduates and experienced nurses, while those who wish to advance need resources.

The state continually funds our organization for new graduate training and provides mentorship programs, ensuring you have more than a preceptor but a valued relationship. In addition, our organization is funded by multiple donors who share a passion for the profession, including a recent $300,000 donation from a patient for a unit nursing development program, such as funding seminars for all its staff members.  

As DNP-prepared nurses, we ensure that our staff have an environment where they can thrive and grow in the profession, while also considering its impact on organizational and operational functions.

Reference

Hakvoort, L., Dikken, J., Cramer-Kruit, J., Nieuwenhuyzen, K. M. V., Van der Schaaf, M., & Schuurmans, M. (2022). Factors that influence continuing professional development over a nursing career: A scoping review. Nurse Education in Practice, 65, 103481. https://doi.org/10.1016/j.nepr.2022.103481.

Naranjee, N., Ngxongo, S. P., & Sibiya, M. N. (2019). Financial management roles of nurse managers in selected public hospitals in KwaZulu-Natal province, South Africa. African Journal of Primary Health Care & Family Medicine, 11(1). https://doi.org/10.4102/phcfm.v11i1.1981.

Son, J., Lee, E. K., & Ko, Y. (2019). Association of Working Hours and Patient Safety Competencies with Adverse Nurse Outcomes: A Cross-Sectional Study. International Journal of Environmental Research and Public Health, 16(21).https://doi.org/10.3390/ijerph16214083.