The nursing units play an essential role in the healthcare industry by not only ensuring patient safety, but also providing top-notch quality care. By doing so, they effectively support the hospital and the organization’s overall revenue. According to Leger nursing staff support reimbursement by advocating for patients and maintaining best practice standards, which supports organizational viability (2023, p. 157). One of the ways that nursing staff members support reimbursement and promote organizational sustainability is by following protocols and preventing adverse events, which can be detrimental to both the patients and the healthcare facility. As frontline staff, nurses are responsible for ensuring that resources are allocated appropriately and that revenue is not lost.
In addition to this, nurses provide patient care and education to promote health literacy. They advocate for necessary interventions and testing to ensure that patients receive the appropriate services based on their assessment findings. This advocacy is crucial in helping patients to achieve optimal health and wellness. The documentation and assessments that nurses perform are critical, as they help to create a comprehensive picture of the patient’s presentation, interventions, and outcomes. This holistic approach is the foundation for revenue generation in healthcare, and it helps to ensure that patients receive the best possible care.
Leger, M. (2023). Financial management for nurse managers: Merging the heart of the dollar (5th ed.). Jones and Bartlett. ISBN-13: 9781284230932
There are only certain units such as an operating room that are truly revenue generators (Leger & Vanhook, 2021). Units must be profitable in order for a hospital organization to be in operation. While some units are more profitable than others, revenue generation is essential. “Currently, revenues are reported only occasionally on the inpatient cost center budget. If this occurs, the nurse leader must seek information to learn what these figures represent: Are they billed dollars or are these dollars actually received? (Leger & Vanhook, 2021, p. 157).” Nurse leaders have a very important job in regard to understanding what is being billed and what is being received. The money that units see in return does not equate to the profit that they made the year previous. It is based on that organization and what they see as valuable and essential to the business. Ultimately, hospital cooperations are businesses. They must be profitable and if certain units are not, their budget and spending must be closely examined to determine why the unit is not more profitable. While there is more revenue in other aspects of hospital spending, units must be making money continuously. There will be more profitable unit such as critical care units and the operating rooms, but the other units are just as essential to maintaining a well-rounded hospital with high revenue.
Leger, J. M. & Vanhook, P. (2021). Chapter 8: Reimbursements and the cost of services provided. Jones & Barlett (Eds.) Financial management for nurse managers: Merging the heart with the dollar (5th ed). Retrieved from https://bibliu.com/app/#/view/books/B1BPN02BMBJH1/epub/EPUB/xhtml/033_Ch04_02.html#page_73
Nursing units can generate revenue when they operate effectively, which is one way to dispute this statement. The literature shows that nurses and nurse managers can influence financial outcomes in their organizations even though their primary responsibilities are to provide patient care (Leiger & Vanhook, 2021). The organization tackles such issues as nurse turnover and overtime by ensuring that resources are managed efficiently, creating protocols and strategies for maximized efficiency, and improving patient satisfaction. Increasing the revenue for the facility can be achieved by all of these activities. Nurse competency and efficiency can also lead to higher rates of patient satisfaction and increased patient throughput, which can improve financial results (Leger, 2021). It is possible to consider the nursing unit as a source of revenue.
A well-managed nurse unit can generate immense revenue if led and managed correctly. Leaders and managers who effectively reduce costs, increase patient satisfaction, and create a work environment conducive to improving employee retention can reduce costs, increase patient satisfaction, and reduce turnover (Leger, 2021). Nurse leaders can optimize their financial gains by connecting with external entities and increasing their bargaining power. A nursing unit can indeed become a profit center with these strategies.
Leger, J. M. & Vanhook, P. M. (2021). Chapter 8 Reimbursement and the cost of services provided. Financial management for nurse managers: Merging the heart with the dollar (5th ed.). Jones & Bartlett Learning.