Variance Assignment Guidelines with Scoring Rubric

FTE/Variance Assignment Guidelines with Scoring Rubric Purpose The purpose of this assignment is to provide learners with the opportunity to gain financial management skills by calculating full-time equivalents for a nursing unit and analyzing a variance scenario.

Course Outcomes Through this assignment, the student will demonstrate the ability to: CO 8: Delineate effective resource management and fiscal responsibilities of the nurse executive (PO 8). Due Date: Sunday 11:59 p.m. MT at the end of Week 4 Total Points Possible: 100 REQUIREMENTS: Answer the questions and complete the calculations required for the two sections of the assignment. • Calculations of full-time equivalents (FTEs) • Variance analysis Submit your answers on a Word document, with the heading of Week 4 Assignment. For the questions requiring a written response, please adhere to proper grammar and syntax, and provide references. For the questions requiring calculations, show all your work and follow the format that has been provided for the calculations in the lesson for Week 4.

PREPARING THE PAPER Section One—Calculation of Full-Time Equivalents

Personnel Budget Case Study

Linda Watson has recently accepted a position as the assistant administrator for the department of nursing at St. Joseph Hospital. There have been both personnel and financial problems at St. Joseph Hospital, and recently, the Catholic Healthcare System purchased the hospital. Like Linda, all of the management staff is new. Linda’s first priority is to assist the nurse managers in preparing their cost centers’ personnel budgets for the coming fiscal year. She has decided to begin with the nurse manager on 1 West, a step-down nursing unit. Linda wants to do extensive data collection and create a solid base for making projections. 1. Suggest all the information Linda needs to collect to prepare a budget for 1 West; be sure to include background data on the unit itself as it relates to previous budgets, nursing staff, and the organization. In other words, summarize your approach to this Case Study—briefly state the organization’s goals (customer-service orientation) for the coming year, trends, any changes in trends that you may anticipate—such as growth in the patient population and the types of data that need to be collected in order to make decisions about staffing levels and ratios. 2. Linda has collected the following information, in addition to what was asked in question number one:

Patient Data:

Average Daily Census 30 Unit Capacity 32 Average HPPD 8.8 Total Care Hours 96,360

Staff Data:

Productive hours/employee/year 1,780 Nonproductive hours/employee/year 300 Total Hours/employee/year 2,080

Skill Mix:

RNs 80% LVNs 10% Nurse aides 10%

Average Salary per Employee Category:

RN $40.00/hour LVN $22.00/hour Nurses Aide $14.00/hour

Calculate the number of productive full-time equivalents (FTEs) that would be needed. Show your calculations. 3. How many RNs, LVNs, and nurses aides will be needed to staff this unit, assuming staff will be working 12-hour shifts? In other words, how many person-shifts will be required during a 24-hour period?

 
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