Please schedule a meeting between you and the instructor by Friday for the NURS-FPX 6226 course (Advanced Finance and Operations Management). This is a course that exposes you each week to a variety of economic and financial concepts in healthcare. Nurses in leadership roles are affected daily by healthcare economics and financial issues. They must be knowledgeable and skilled in fundamental healthcare economic principles, including budgeting and financial management. In the meeting, you will discuss how you have started the practicum, any challenges, and what you anticipate. After that, complete the call sheet below and send it to me. It is essential to take time to identify the issue and share it with me so that I can start Assessment 2. Also, try and find the following details for me to complete the course well.
Below is an example of how you might achieve the practicum hours for this course, as well as what documentation you would submit to verify your hours.
| Assessment | Suggested Activities for Practice Hours | Documentation |
| Assessment 2:
Strategic budget planning |
Ask for your organization’s most recently approved budget. How do the budget line items coincide with the organization’s mission and goals? | Submit a 1–2 page summary of your findings in the CAP. |
| Meet with a senior nurse leader in your organization. How does their role consider budgeting and fiscal planning? | Submit a 1–2 page summary of your findings in the CAP. | |
| Attend a budget planning meeting at your organization. Were there items you felt were missed or not considered? | Submit a 1–2 page summary of your findings in the CAP. | |
| Assessment 3:
Preparing and Managing an Operating Budget |
What are the budget types used at your organization? What tools are available to support the nurse leader in this process? | Submit a 1–2 page summary of your findings in the CAP. |
| Interview a staff member. Do they have knowledge of the budget process? | Submit a 1–2 page summary of your findings in the CAP. | |
| Interview a leader in the organization. What is the process for requesting new equipment or supplies? | Submit a 1–2 page summary of your findings in the CAP. | |
| Assessment 4: Budget Negotiations and Communication |
Attend a meeting that includes a multidisciplinary leadership team. Analyze the communication between stakeholders. What worked well? Are there opportunities for improvement? | Submit a 1–2 page summary of your findings in the CAP. |
| What evidence-based communication tools does your organization use? How can you incorporate these tool recommendations into your practice? Does the staff feel there is transparent and effective communication from leadership? | Submit a 1–2 page summary of your findings in the CAP. |
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