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Help me study for my Nursing class. I’m stuck and don’t understand. our se Competency undefined Apply the principles of economics as they relate to nursing and healthcare.
undefined Transferable Skill undefined Communication – Displaying capability in writing, reading, and oral communication; understanding of non‐verbal language.
undefined Scenario undefined
The nurse manager in orthopedics has
asked for your assistance with a finance project. She is being asked to
estimate revenue for the next fiscal year based on the projected number
of hip replacements increasing from 300 this year to 340 next year.
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The nurse manager must also factor in
the expected changes in sources of revenue by payer. It is estimated
that the hospital will lose some contracted insurers due to local
competition, and see an increase in Medicare and Medicaid patients due
to area demographics and economic conditions. She has provided you with
the numbers from this year’s budget and the projections on numbers and
payment amounts for next year.
undefinedInstructionsundefined
Prepare a financial forecasting memo to your nurse manager that:
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Part One – Financial Forecasting Model
undefinedContains a completed financial forecasting model by downloading the Financial Forecasting Model
to:
Calculate the income projected
from each payer source and total for the year to compare next year’s
revenue to this year’s revenue.
Provide your nurse manager with your estimates on the increase/ decrease in revenue for next year’s budgeting.
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Part Two – Financial Forecasting Memo
undefinedExplains how the change in payer mix will impact the overall projected revenue of the unit.
Describes the financial impact of a changing payer mix.
Lists recommendations for the manager to consider in expenses, so that the budget will balance as neutral.
Provides stated ideas with
professional language and attribution for credible sources with correct
APA citation, spelling, and grammar in the memo.
Requirements: 3-4
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