Financial management for nurses

FINANCIAL MANAGEMENT FOR NURSES 3

Financialmanagement for nurses

Financialmanagement is critical for nurses as their expertise is extremelydifferent from accounting hence little knowledge of the subjectmatter. With intent of avert possible losses emanating from poorfinancial management therefore, nurses ought to equip with skills toenable them handle the situations. This is through integrating theskills in their coursework to enhance on eminence from alldimensions. According to (Jones,2007),the need for reviewing on needs assessment is essential in trying tokeep nurses abreast with the expertise of financial management.

Itis important for nurses to acquaint themselves with the consequencesand bottom line emanating from poor financial management. By sodoing, they are bound to take stringent measures while going aboutall operations. According to (Jones,2007),hospitals in the U.S lost Medicare reimbursement money as many oftheir patients readmitted shortly after discharge. Emphasis of costeffective health care is thus crucial in the field of nursing. Byequipping nurses with the knowledge, they are bound to get neededinsight to cut on costs hence solving the unpleasant situations thatarise from poor financial management. Financial consultants andexperts deployed to work closely with the nurses to guide them on howto tackle such unpleasant situations salvage the situation.

(Jones,2007)also notes that specific nursing strategies aimed at enhancing ontheir managerial and leadership skills with intent of reducing onturnover are vital in solving the issue of financial management. Thenurses’ converse with progressing abilities essential to conform toemerging trending needs. A good example is in nurse education throughwhich nurses can effectively uphold financial management skills thatmeet up with advancing technological trends for smooth running ofoperations.

References

Jones,R. (2007). Nursingleadership and management.Philadelphia, PA: F.A. Davis Co.