Nursing Administration: Cost-to-Charge Ratio and Value-Based Reimbursement Environment (Essay Sample)
• What is a cost-to-charge ratio? Why should a nurse manager understand this ratio, and how would he or she use it?
• Finance departments regard nursing units as not being revenue generators. Why do you believe they are inaccurate in their assessment?
• In the new value-based reimbursement environment, what other measures can a nurse manager take to enhance REIMBURSEMENT and prevent revenue loss?
Course Name and Number
Variance reporting is crucial for nurse leaders because it allows them to understand differences between actual budgets and forecasted budgets. Variance reporting becomes a valuable tool when a nurse leader wants to understand budget deficiencies and develop accurate budget forecasts for the future. The instrument also becomes valuable because it helps the nurse leader identify causes of variance.
A workload report would provide me with valuable information on staffing. A workload report shows the number of hours every worker is working. Workload reports, therefore, help a leader to determine how to divide workload.
Contract labor is usually the most expensive in man-hours because it depends on performance. When an employer hires workers
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