Case Study : Managing Variable Budget

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A Case Study: Managing Variable Budget
Nessrin Leonida
Thomas Edison State College

A Case Study: Managing Variable Budget
In order for a unit to operate effectively fiscal yearly budgets needs to be set and maintained. In some cases the nurse manager needs to be strong in negotiation to be able to get financial support for the year (Yoder-Wise, 2015, 226). As a result, nurse’s managers need to be able to adjust their budgets every quarter to not exceed the budget set.
Addressing Request
As a nurse manager, there are many factors to consider when adjusting and maintaining their budget. In the Intensive Critical Care Unit there are 127,600 dollars left for the next three months of the fiscal year. The nurse manager would
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The nurse manager would keep the budget to 25,000 dollars a month for personnel. If the nurse manager has to hire a new staff now it would be more costly and may go over the budget. New hire also has to be trained for a period of time before working on the floor and assigned patients and there is only three months left of the budgeted year. Therefore the nurse manager can move the 6,000 dollars in the overtime budget. The amount was 6,000 dollars was considered because 50,000 dollars for the year was already used. If one divides 50,000 dollars by three quarters and again in three months help see that the unit used, 5,555 dollars each month in over time. As a result, the nurse manager can provide overtime hours for staff already employed, to help support the increase in acuity on the unit. 11,533 dollars is now free to be move into other areas of the financial plan to help prevent going over budget.
Staff Education
Nurses are constantly being trained and educated in new nursing skills, equipment, and or software being used in their facility, as well as, going back to school or conferences to grow in their nursing profession. As a result, staff training and education are implemented in the fiscal budget. Considering the educational aspect, nurses may have wanted to go to different conferences out of state in September. There is a cost of admission to the conference as well as
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