Homework: Health Care Finance and Economics
1) What is it important for a nurse leader to understand variance reporting? How does this reporting become a valuable tool?
2) Because staffing is usually the most expensive resource in the provision of care, what reports would provide you with valuable information for this expense?
3) Contract labor is usually the most expensive man-hours. Why?
4) What is a cost-to-charge ratio? Why should a nurse manager understand this ratio, and how would he or she use it?
5) Finance departments regard nursing units as not being revenue generators. Why do you believe they are inaccurate in their assessment?
6) In the new value-based reimbursement environment, what other measures can a nurse manager take to enhance reimbursement and prevent revenue loss?
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.