Role of a DNP Prepared Nurse in Creating an Operating Budget

Discussion

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.(Comprehensive Essay on the Role of a DNP Prepared Nurse in Creating an Operating Budget)

Instructions

Reflect upon your readings and professional experience and examine the role of the DNP-prepared department or organizational leader in navigating the following:(Comprehensive Essay on the Role of a DNP Prepared Nurse in Creating an Operating Budget)

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

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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. (POs 2, 4, 9)(Comprehensive Essay on the Role of a DNP Prepared Nurse in Creating an Operating Budget)
2. Develop strategies to lead project planning, implementation, management, and evaluation to promote high-value healthcare. (POs 3, 5, 7)

Comprehensive Essay on the Role of a DNP Prepared Nurse in Creating an Operating Budget

DNP-educated nurses in leadership positions play a good role to play in budgeting. The DNP program has been an intermediary, leading an interprofessional team in improving healthcare outcomes, which requires appropriate planning and budgeting of institutional operations (Edwards et al., 2018). Primarily, DNP-prepared nurses have a crucial role in planning and budgeting for the operation budget, which is especially relevant considering their close association with the patients and understanding of the requirements to provide appropriate care and services daily. Therefore, DNP-prepared nurses leading a nursing unit have the requisite knowledge of the requirements of the nursing unit and prepare the operating budgets, including revenues and expenses. (Comprehensive Essay on the Role of a DNP Prepared Nurse in Creating an Operating Budget)
Due to the dynamics of nursing landscapes, healthcare organizations tend to incur cost overruns associated with overtime and other tasks requiring additional staffing. Nevertheless, a DNP-prepared nurse should be able to account for all healthcare costs and the projected services and revenue in the budget (Zaichkin, 2018). To avoid cost overruns, a DNP-prepared nurse leader should analyze cost-effective protocols and influence nursing policies to implement these protocols and manage the cost of overtime. Moreover, a DNP-prepared nurse is trained to design and appraise innovative patient care solutions or models, appraise the cost-effectiveness of existing patient care interventions and influence sustainable policies across various levels to achieve sustainability. (Comprehensive Essay on the Role of a DNP Prepared Nurse in Creating an Operating Budget)
When it comes to managing mandatory overtime, such as those associated with acuity fluctuations and patient consensus, DNP-trained nurse leaders understand the need for work-life balance and the potential outcomes of high workload work burden of nurses’ performance and can discuss with affected nurses and provide solutions (Donley & Kiraly, 2017). For instance, DNP-prepared nurse leaders could manage such situations by making overtime voluntary and establishing overtime rotation and budget for on-call nurses or hiring nurses. However, such decisions as hiring more nurses would come with additional spending. DNP-trained nurse leaders could address such issues through the clinic committee, presenting solutions based on projected nursing services, nursing workload, and potential shortages.
Based on their working knowledge of the nursing landscape, healthcare policies, and economic and clinical issues, the DNP-prepared nurse leaders apply for partnerships and funding for ongoing professional development and training of nurses across various nursing units (Bindon, 2017). Significantly, DNP-prepared nurse leaders budget for and organize periodic and specific training opportunities to enhance staff competency based on the organization’s needs.(Comprehensive Essay on the Role of a DNP Prepared Nurse in Creating an Operating Budget)

 
References

Bindon, S. L. (2017). Professional development strategies to enhance nurses’ knowledge and maintain safe practice. AORN Journal, 106(2), 99-110. https://doi.org/10.1016/j.aorn.2017.06.002 (Comprehensive Essay on the Role of a DNP Prepared Nurse in Creating an Operating Budget)
Donley, S. R., & Kiraly, C. (2017). The DNP-Prepared Nurse’s Role in Health Policy and Advocacy. In DNP Role Development for Doctoral Advanced Nursing Practice, 415. http://dx.doi.org/10.1891/9780826171740.0018
Edwards, N. E., Coddington, J., Erler, C., & Kirkpatrick, J. (2018). The Impact of the Role of Doctor of Nursing Practice Nurses on Healthcare and Leadership. Medical Research Archives, 6(4).(Comprehensive Essay on the Role of a DNP Prepared Nurse in Creating an Operating Budget)
Zaichkin, D. L. (2018). Budget principles for nurse leaders. In Essential Knowledge for CNL and APRN Nurse Leaders, 217. http://dx.doi.org/10.1891/9780826183712.0017

FAQs

What is the role of the nurse in the budget?

Nurses play a vital part in budget management within healthcare settings. They work closely with administrators and financial teams to determine staffing requirements, acquire medical supplies, and strategize patient care provisions within budgetary constraints. By offering their expertise on clinical necessities, patient conditions, and workflow enhancements, nurses contribute to decisions that harmonize quality care with fiscal prudence. This engagement in budgetary dialogues demonstrates their commitment to upholding superior care standards while ensuring responsible financial management.(Comprehensive Essay on the Role of a DNP Prepared Nurse in Creating an Operating Budget)

What is the role of a DNP prepared nurse?

A nurse with a Doctor of Nursing Practice (DNP) qualification assumes an elevated position in healthcare, emphasizing clinical leadership, evidence-driven practices, and enhancing patient wellbeing. Typically functioning as advanced practice registered nurses (APRNs) or in leadership capacities, DNPs are engaged in tasks like direct patient care, diagnosis, prescription, healthcare team coordination, and participation in healthcare policy shaping. Their focus is on comprehensive and patient-centric healthcare provision.(Comprehensive Essay on the Role of a DNP Prepared Nurse in Creating an Operating Budget)

What is the role of the DNP prepared nurse as it relates to the development of nursing science?

The role of nurses with a DNP degree in advancing nursing science is vital. These professionals merge advanced clinical skills with evidence-based research, driving the expansion of nursing knowledge. DNPs excel in translating research into practical patient care, fostering better outcomes. They also actively engage in research to address real-world healthcare issues, promoting innovation and improving the overall quality of nursing practice.(Comprehensive Essay on the Role of a DNP Prepared Nurse in Creating an Operating Budget)

Which is the role of a DNP prepared nurse facing chaos complexity and changes in the work area?

A nurse with a DNP degree, when confronted with a turbulent, intricate, and ever-changing work environment, assumes a crucial position as a clinical frontrunner and adept problem-solver. Leveraging their extensive expertise, these professionals meticulously assess complex healthcare situations, apply proven techniques grounded in research, and facilitate well-informed choices. Through interdisciplinary cooperation, they cultivate flexible approaches, prioritize patient-oriented care, and adeptly navigate the constantly shifting landscape of healthcare trends and innovations.(Comprehensive Essay on the Role of a DNP Prepared Nurse in Creating an Operating Budget)