The Nurse Manager's Guide to Budgeting and Finance, 3rd Edition - by Al Rundio (Paperback)

About the Book

"Nurse managers must possess some basic knowledge about budgeting and finance. The reality is that nurse managers manage their own business (the nursing unit) within the organization. With decreasing revenue streams, nurse managers must manage their units so that actual expenses equal budgeted expenses, or they must be able to justify variances and take corrective action where needed. Nurse managers must also be familiar with certain types of budget reports, how to interpret these reports, and, most importantly, how to take action to control the results. All this can be difficult for many nurse managers. This book is written with the nurse manager at the unit level and above for any healthcare organization in mind. It's a handbook that is intended to be used on the job for the effective management of the organization's finances. It is also intended to share with nurse managers concepts that can be implemented in management so they become more effective at managing the resources of the organization. Finally, this book will assist any nursing manager pursuing certification as a nurse executive"--

Book Synopsis

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

Review Quotes

"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