Within a healthcare environment, where the gap between revenues and co

QUESTION

Within a healthcare environment, where the gap between revenues and costs can mean the difference between sustainability of an organization and nonsustainability of an organization or services, it is critical for nurse managers to:

a. Maintain a clear vision of how to trim healthcare costs.
b. Balance value-added services against costs and revenues.
c. Consistently delete programs that are of high cost.
d. Implement programs that bring in additional revenues.

ANSWER:

ANS: B
To achieve and maintain financial viability, nurse managers must be able to think strategically financially and in terms of nursing care. Cutting costs by deleting programs and bringing in additional revenue through new programs and services are not in themselves strategic unless the decisions made lead to quality care, have positive outcomes, and are efficient in terms of cost.