ANSWER
Nursing Leadership and Change Management: Budget Control and Cost-Containment
Nurse Leaders Affecting Cost of Care: Examples
By using effective budgeting and expense management techniques, nurse leaders significantly help to control expenses. A nurse leader might, for example, set policies to reduce waste and routinely audit medical supplies to find overuse or abuse of them. For patients who could get comparable results with less expensive options, one could restrict the usage of non-essential things like expensive wound dressings.
Nurse leaders can maximise staffing patterns depending on census data and patient acuity. By including float pool nurses, for instance, a staffing strategy helps to provide flexibility during peak times without turning to costly agency employment. Nurse leaders can prevent needless overtime expenses and preserve quality care by precisely matching staffing to real patient requirements.
Adopting evidence-based practice for cost-control
Through bettering patient outcomes and minimising mistakes, evidence-based practice (EBP) helps companies save expenses. Standardised care packages for sepsis management, for instance, help to cut hospital length of stay and thereby reduce the occurrence of complications, so lowering healthcare expenditures. Nurse leaders improve quality and cost-effectiveness by making sure procedures are directed by the most recent studies.
Evidence-Based Change Affecting Medical Expenses
Daily multidisciplinary rounds in inpatient facilities are one instance of an evidence-based improvement. Effective communication among care teams helps to reduce needless treatments, duplicate testing, and extended hospital stays, according studies. This approach raises patient happiness and enhances care coordination, hence lowering general healthcare costs.
Individual Thought and Next Action
After going over this subject, I understand how important resource and financial management depend on me. My going forward work will incorporate the following adjustments:
Conscious Use of Resources: I will carefully evaluate the need of every intervention or supply applied in patient care, therefore preventing waste and preserving quality.
Promoting evidence-based changes can help to embrace treatments like pressure injury prevention strategies, therefore lowering related costs and problems.
Improving Communication: I will have conversations with multidisciplinary teams to guarantee patient-centered, reasonably priced treatment strategies are developed and followed.
By combining these approaches, I hope to provide excellent treatment while helping my company to be financially sustainable.
QUESTION
Prof. Nursing Leadership
Week 3 Discussion: Nursing Leadership and Change Management
Being cost conscious as a nurse and a nurse leader can be challenging. There are multiple considerations that contribute to cost-consciousness that should be kept in mind. As direct caregivers, nurses are often involved in determining the type and quantity of resources used for patients. This includes supplies, personnel, and time. Decisions made by nurse leaders will directly impact the cost of care for patients cared for within their organization.
In this week’s discussion, reflect on the role of the nurse leader in fiscal management decision making. Address the following:
· Provide two different examples that demonstrate how nurse leaders can impact cost of care through cost-containment efforts surrounding budgeting, expense reporting, personnel/staffing decisions, or reimbursement.
· Discuss how implementing evidence-based practice can contribute to cost-containment efforts within healthcare organizations.
· Provide one example of an evidence-based change that can impact healthcare costs.
· Reflect on your work as a nurse. After reviewing the content in this module, how will your practice change in the future concerning fiscal and resource management? What specific changes will you make in your practice?