Overview

Nurses focus on the art and science of caregiving, but nurse managers are faced with the economic reality of patient-staffing ratios, budgets, reports, and accounting. Acronyms such as FTEs and ADCs can feel like a foreign language, but thankfully, help is available. Updated to include details about key legislation that will affect budgeting, The Nurse Manager's Guide to Budgeting and Finance, 3rd Edition, provides practical tools, tips, and strategies for running a unit that you weren't taught in nursing school: Operating and capital budget development and planning for the year Formulas and calculations for full-time employee hours, variances, and benefit costs Explanation of financial statements, budgets, and reimbursement documents The relationship between high reliability organizations (HROs) and finance/budgets Differences between not-for-profit and for-profit institutions

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9781646480159

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Reviews

What a great reference-complete yet concise! For those nurses who don't think the budget is important, Rundio identifies the relationship between informed budgeting and improved patient care. He clearly describes everything the nurse needs to know about the budget and the budgeting process. And if that isn't enough, he provides decisive and essential information for future administrative and clinical practice. No nurse should be without a copy! -William J. Lorman, PhD, JD, MSN, PMHNP-BC, NCPsyA, FAAN Principal, Insight Psychological Services Willow Grove, Pennsylvania The Nurse Manager's Guide to Budgeting & Finance, Third Edition, is so much more than a guide for nurse managers! This book is essential reading for all advanced practice registered nurse educators and policymakers. Concepts central to healthcare costs, reimbursement, and national policy are presented in a way that is easy for the non-manager to understand. It's not easy to make budgeting interesting, but Dr. Rundio does it! -Sally K. Miller, PhD, APRN, FAANP Clinical Professor Drexel University College of Nursing and Health Professions Dr. Rundio has significant experience as a nurse executive and is currently my successor as treasurer for the Nightingale Awards of Pennsylvania. His book comprehensively outlines key budgeting concepts and shares important steps in developing strong, credible nursing budgets. This third edition includes 'real time' interviews and case examples that enhance the assimilation of knowledge and understanding of financial concepts-an outstanding strategy for explaining this often complicated yet critical leadership topic. I truly wish I'd had Dr. Rundio's book as a reference early in my career, not only for myself but as a resource for nurse leader colleagues! -Valerie S. Hardy-Sprenkle, MPH, RN, NEA-BC, FACHE (R) WellSpan Vice President of Acute Care Nursing Practice (Retired) WellSpan York Hospital Vice President/Chief Nursing Officer (Retired) Al Rundio's third edition of The Nurse Manager's Guide to Budgeting & Finance is a must-have resource for new nurse leaders as well as seasoned nurse executives. In this edition, Al addresses contemporary issues facing nurse leaders such as the financial impact of the global pandemic. He provides an up-to-date view of the complexities and challenges of the healthcare financial environment and shares real-world examples that exemplify nursing financial acumen. This guide should be part of every nurse manager's toolkit for assuring competent practice. -Moreen Donahue, DNP, RN, FAAN, NEA-BC Nurse Consultant Dr. Rundio did an amazing job of taking an incredible amount of information and streamlining it into short, detailed, and informative sections. His chapter on 'Budgeting Development' provides a true collection of all the specifics that need to be considered, as well as the steps needed to create a solid budget. I love that he included his personal thoughts and experiences throughout the book. -Cindy McIntire, RN Director of Nursing, Enlightened Solutions Detox CNOs are responsible for ensuring their nursing leadership teams understand how the decisions they make on a daily basis impact organizational finances and quality of care. In The Nurse Manager's Guide to Budgeting & Finance, 2nd Edition, Al Rundio provides exemplars for crucial leadership development and successful fiduciary knowledge on your nursing team. Armed with this knowledge, nurses will be empowered to lead your organization with contemporary financial acumen and practice. Both editions will become staples in your nursing leadership library. Once you read this book, you will wonder how you survived without these tools in your toolbox. -Joanne O. Miller, DNP, RN, NEA-BC Chief Nursing Officer/Vice President Patient Care Services Sibley Memorial Hospital/Johns Hopkins Medicine Nurse leaders are uniquely positioned to deliver revenue maximization and improved clinical outcome results demanded by healthcare reform. A comprehensive understanding of budgeting is imperative to fulfill this major accountability. In this edition of The Nurse Manager's Guide to Budgeting & Finance, Rundio provides a budgeting context in his new chapters on healthcare reform, organizational governance, and QSEN competencies and has updated his clear, concise guide to clinical financial management. Required reading for nurse leaders. -Donald T. Wenzler, DNP, MBA, RN, NEA-BC Chief Nursing Officer Antelope Valley Hospital This second edition of The Nurse Manager's Guide to Budgeting & Finance is an essential book for nursing students, professionals, and managers alike because it addresses financial issues nurse managers regularly encounter. Often, nursing students and professional nurses are catapulted into manager positions without the necessary knowledge and skills in the financial area where they are expected to function. This edition covers a broad range of topics related to healthcare finance, including accounting, budgeting, and reimbursement issues, as well as new chapters on the Affordable Care Act, healthcare governing boards, and quality and safety issues that nurse leaders deal with regularly. A 'musthave' guide for all nurses who have administrative responsibilities, this book is full of down-to-earth, real-life examples that help nurses better understand financial management. I guarantee that you will use this book often as you maneuver through your administrative duties. -William J. Lorman, JD, PhD, MSN, RN Vice President & Chief Clinical Officer Livengrin Foundation, Inc. The leadership competencies needed in today's healthcare market are fundamentally different from what many nurses learned in the past. Al Rundio has provided a comprehensive, succinct, and contemporary perspective that supports the needed learnings of present-day nurse leaders. The Nurse Manager's Guide to Budgeting & Finance, 2nd Edition, should be required reading for all nurse managers and directors. -Michelle Conley, MBA, BSN, RN, CENP Senior Vice President and Chief Nursing Officer Aria Health

What a great reference-complete yet concise! For those nurses who don't think the budget is important, Rundio identifies the relationship between informed budgeting and improved patient care. He clearly describes everything the nurse needs to know about the budget and the budgeting process. And if that isn't enough, he provides decisive and essential information for future administrative and clinical practice. No nurse should be without a copy! -William J. Lorman, PhD, JD, MSN, PMHNP-BC, NCPsyA, FAAN Principal, Insight Psychological Services Willow Grove, Pennsylvania The Nurse Manager's Guide to Budgeting & Finance, Third Edition, is so much more than a guide for nurse managers! This book is essential reading for all advanced practice registered nurse educators and policymakers. Concepts central to healthcare costs, reimbursement, and national policy are presented in a way that is easy for the non-manager to understand. It's not easy to make budgeting interesting, but Dr. Rundio does it! -Sally K. Miller, PhD, APRN, FAANP Clinical Professor Drexel University College of Nursing and Health Professions Dr. Rundio has significant experience as a nurse executive and is currently my successor as treasurer for the Nightingale Awards of Pennsylvania. His book comprehensively outlines key budgeting concepts and shares important steps in developing strong, credible nursing budgets. This third edition includes 'real time' interviews and case examples that enhance the assimilation of knowledge and understanding of financial concepts-an outstanding strategy for explaining this often complicated yet critical leadership topic. I truly wish I'd had Dr. Rundio's book as a reference early in my career, not only for myself but as a resource for nurse leader colleagues! -Valerie S. Hardy-Sprenkle, MPH, RN, NEA-BC, FACHE (R) WellSpan Vice President of Acute Care Nursing Practice (Retired) WellSpan York Hospital Vice President/Chief Nursing Officer (Retired) Al Rundio's third edition of The Nurse Manager's Guide to Budgeting & Finance is a must-have resource for new nurse leaders as well as seasoned nurse executives. In this edition, Al addresses contemporary issues facing nurse leaders such as the financial impact of the global pandemic. He provides an up-to-date view of the complexities and challenges of the healthcare financial environment and shares real-world examples that exemplify nursing financial acumen. This guide should be part of every nurse manager's toolkit for assuring competent practice. -Moreen Donahue, DNP, RN, FAAN, NEA-BC Nurse Consultant Dr. Rundio did an amazing job of taking an incredible amount of information and streamlining it into short, detailed, and informative sections. His chapter on 'Budgeting Development' provides a true collection of all the specifics that need to be considered, as well as the steps needed to create a solid budget. I love that he included his personal thoughts and experiences throughout the book. -Cindy McIntire, RN Director of Nursing, Enlightened Solutions Detox

"""What a great reference-complete yet concise! For those nurses who don't think the budget is important, Rundio identifies the relationship between informed budgeting and improved patient care. He clearly describes everything the nurse needs to know about the budget and the budgeting process. And if that isn't enough, he provides decisive and essential information for future administrative and clinical practice. No nurse should be without a copy!"" -William J. Lorman, PhD, JD, MSN, PMHNP-BC, NCPsyA, FAAN Principal, Insight Psychological Services Willow Grove, Pennsylvania ""The Nurse Manager's Guide to Budgeting & Finance, Third Edition, is so much more than a guide for nurse managers! This book is essential reading for all advanced practice registered nurse educators and policymakers. Concepts central to healthcare costs, reimbursement, and national policy are presented in a way that is easy for the non-manager to understand. It's not easy to make budgeting interesting, but Dr. Rundio does it!"" -Sally K. Miller, PhD, APRN, FAANP Clinical Professor Drexel University College of Nursing and Health Professions ""Dr. Rundio has significant experience as a nurse executive and is currently my successor as treasurer for the Nightingale Awards of Pennsylvania. His book comprehensively outlines key budgeting concepts and shares important steps in developing strong, credible nursing budgets. This third edition includes 'real time' interviews and case examples that enhance the assimilation of knowledge and understanding of financial concepts-an outstanding strategy for explaining this often complicated yet critical leadership topic. I truly wish I'd had Dr. Rundio's book as a reference early in my career, not only for myself but as a resource for nurse leader colleagues!"" -Valerie S. Hardy-Sprenkle, MPH, RN, NEA-BC, FACHE (R) WellSpan Vice President of Acute Care Nursing Practice (Retired) WellSpan York Hospital Vice President/Chief Nursing Officer (Retired) ""Al Rundio's third edition of The Nurse Manager's Guide to Budgeting & Finance is a must-have resource for new nurse leaders as well as seasoned nurse executives. In this edition, Al addresses contemporary issues facing nurse leaders such as the financial impact of the global pandemic. He provides an up-to-date view of the complexities and challenges of the healthcare financial environment and shares real-world examples that exemplify nursing financial acumen. This guide should be part of every nurse manager's toolkit for assuring competent practice."" -Moreen Donahue, DNP, RN, FAAN, NEA-BC Nurse Consultant ""Dr. Rundio did an amazing job of taking an incredible amount of information and streamlining it into short, detailed, and informative sections. His chapter on 'Budgeting Development' provides a true collection of all the specifics that need to be considered, as well as the steps needed to create a solid budget. I love that he included his personal thoughts and experiences throughout the book."" -Cindy McIntire, RN Director of Nursing, Enlightened Solutions Detox"

Author Information

Al Rundio, PhD, DNP, RN, APRN, NEA-BC, FNAP, FAAN, is an experienced clinician, administrator, and educator. He is a Clinical Professor of Nursing at Drexel University's College of Nursing and Health Professions in Philadelphia, Pennsylvania. He is the former Vice President of Nursing/CNO at Shore Medical Center in Somers Point, New Jersey. He is a member of the board of trustees of Inspira Health System in New Jersey. Rundio currently practices part-time as a nurse practitioner in a residential addiction treatment center. He is the immediate Past President of the International Nurses Society on Addictions. Rundio is the coauthor of the first, second, and third editions of Nurse Executive Review and Resource Manual, published by the American Nurses Credentialing Center. He is the coeditor and author of The Doctor of Nursing Practice and the Nurse Executive Role, published by Lippincott Williams & Wilkins. He is the editor of Nurse Management & Executive Practice, also published by Lippincott Williams & Wilkins. He is the coeditor-in-chief of the Journal of Interprofessional Education and Practice. He is a popular speaker on nurse management and leadership topics. He presents nurse executive review courses to assist nurses in preparation for the nurse executive certification board examinations.

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