NSG/567: Financial Resources Management In Health Care Essay assignment
NSG/567: Financial Resources Management In Health Care Essay assignment
Wk 1 Team – Developing a Financial Proposal Template Essay assignment
As a team, research financial reporting systems used in health care organizations and evaluate several components, which include manpower and operational budgets, variance reports, processes to cover staff, approaches to keep the department on track, reviewing metrics over time, and the use of dashboards. Using data to keep departments within budget goes back to creating dashboards. The nurse leader develops communication strategies to get information to staff, because all staff are a part of the solution to decrease costs. Consider methods used in data mining and ways to use data to develop a strategic financial plan.
Research best practices and required information used to develop a detailed financial proposal to fill a gap in resources, which may include:
- Financial plan topic and background
- Historical perspective of how the gap was realized
- Detailed description of request to fill the gap
- SWOT analysis
- Value proposition
- Support request
- Data that supports the request
- Cost
- Budget needed to fill the gap
- Measurable goals
- Plans for implementation (If the proposal is approved, how and when will the project be implemented and what are the expectations for completion.)
- Appendices and schedules needed
- Budget sheet
- Data analysis
- Trending analysis
- Closing statement
Create a Financial Proposal Template that each team member can use to create their individual financial proposals. In the template, describe the process to create a plan and how an annual budget becomes a part of the financial plan.
Cite and reference all sources.
NSG/567: Financial Resources Management In Health Care Essay assignment
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