Financial and Business Management for the Doctor of Nursing Practice

431 Pages·2017·6.329 MB·English

by  KT Waxman (editor)

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ISBN 978-0-8261-2206-3
KT Waxman
Editor
11 W. 42nd Street
New York, NY 10036-8002 9 780826 122063
www.springerpub.com
Financial and Business
Management for the
Doctor of Nursing Practice
KT Waxman, DNP, MBA, RN, CNL, CHSE, CENP, FAAN, is a nurse leader with more
than 30 years of experience in health care and corporate settings. She has held positions as chief
nursing officer, chief operating officer, vice president for Patient Care Services, and senior man-
ager in a large consulting firm. In 2009, Dr. Waxman made the leap to academia. Currently she
is an associate professor in the School of Nursing and Health Professions at the University of
San Francisco where she directs the Executive Leadership Doctor of Nursing Practice (DNP)
program and teaches advanced financial management. She created and implemented the Cali-
fornia Simulation Alliance (CSA) at HealthImpact, a 4,000-member virtual alliance serving the
health care simulation community, where she serves as director. An internationally known speaker
and author, Dr. Waxman is also a past president and past board member of the Association of
California Nurse Leaders (ACNL). She served on the executive board and as treasurer for the
American Organization of Nurse Executives (AONE) from 2013 to 2015, and she has served on
the strategic planning and education committees for AONE. Dr. Waxman is a fellow in both the
Society for Simulation in Healthcare and the American Academy of Nursing.
Financial and Business
Management for the
Doctor of Nursing Practice
Second Edition
KT Waxman, DNP, MBA, RN, CNL, CHSE, CENP, FAAN
Editor
Copyright © 2018 Springer Publishing Company, LLC
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ISBN: 978-0-8261-2206-3
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Library of Congress Cataloging-in-Publication Data
Names: Waxman, KT, editor.
Title: Financial and business management for the doctor of nursing practice / [edited by] KT Waxman.
Description: Second edition. | New York, NY : Springer Publishing Company, [2018] | Includes
bibliographical references and index.
Identifiers: LCCN 2017034450 | ISBN 9780826122063 (hardcopy : alk. paper) |
ISBN 9780826122094 (ebook)
Subjects: | MESH: Economics, Nursing | Nursing Services—economics
Classification: LCC RT86.7 | NLM WY 77 | DDC 610.73068—dc23 LC record available at
https: //lccn .loc .gov /2017034450
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Printed in the United States of America by Gasch Printing.
This book is dedicated to those nurse leaders who have made the
decision to continue their education and obtain a doctoral degree, and
to my colleagues and friends for their encouragement and
support during the writing of this text—they know who they are!

Contents
Contributors ix
Foreword R oxane Spitzer, PhD, MBA, RN, FAAN xi
Preface xi ii
Acknowledgments xvii
Share Financial and Business Management for the Doctor of Nursing Practice, Second Edition
PART I. THE BIG PICTURE OF HEALTH CARE FINANCE
1. The Economic Context of Nursing Practice in the United States 1
Joanne Spetz
2. Insurance Coverage and Reimbursement in Acute and Nonacute Settings 23
Carol A. (Reineck) Huebner
PART II. BUDGETING FOR ACUTE AND AMBULATORY CARE
3. Hospital Utilization, Staffing, and Financial Indicators 47
Susan J. Penner and Michael D. Spencer
4. Budgeting, Scheduling, and Daily Staffing for Acute Care Nursing Units 69
Chrys Marie Suby
5. Nurse Practitioner Strategies for Financial Success 135
Karen Van Leuven
6. Strategic Planning and Capital Budgeting 151
Mikhail Shneyder
7. Financial Statements and the DNP: Essential Knowledge for Success 183
Tim Bock, Carlton Abner, KT Waxman, and Juli Maxworthy
PART III. QUALITY, DATA ANALYSIS, AND LEGAL/ETHICAL ISSUES
8. Quality Initiatives: Building the Business Case for Quality 201
Juli Maxworthy
9. Basic Data Analysis Techniques for DNP Nurse Leaders 225
Susan Prion
10. Legal, Policy, and Ethical Issues in Health Care Financing 247
Elena Capella and Judith Lambton
11. Evolution of a Project: The DNP as Project Manager 263
Elena Capella and Kathleen M. Nakfoor
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viii Contents
12. Health Care Grant Writing in Acute, Ambulatory, and Community Care 287
Mary Lynne Knighten
13. The Efficient Hospital of the Future 315
Lisa J. Massarweh
PART IV. ENTREPRENEURSHIP AND THE FUTURE
14. Entrepreneurial Leadership: Innovation and Business Acumen 327
KT Waxman and Marjorie Barter
15. Teaching Financial Management and Program Development 345
Fay L. Bower and Anna Mullins
16. Financing Nursing Care Around the World: Global Health Care 365
Lisa Gifford
Glossary 377
Index 395
Contributors
Carlton Abner, DNP, RN-BC, Associate Vice President, Talent Strategies, Lenexa, Kansas
Marjorie Barter, EdD, RN, CNL, CENP, Professor Emerita, Health Care Systems Leadership,
School of Nursing and Health Professions, University of San Francisco, San Francisco,
California
Tim Bock, DNP, MBA, Director of Patient Care Services, Salmon Creek Medical Center,
Legacy Health, Vancouver, Washington
Fay L. Bower, DNSc, FAAN, Retired Professor, Holy Names University, Oakland, California;
Consultant, Nursing Education
Elena Capella, EdD, MSN, MPA, RN, CNL, CPHQ, LNCC, Assistant Professor, School of
Nursing and Health Professions, University of San Francisco, San Francisco, California
Lisa Gifford, DNP, RN, CHPCN, CHPCA, Assistant Professor, School of Nursing and
Health Professions, University of San Francisco, San Francisco, California
Carol A. (Reineck) Huebner, PhD, RN, CENP, FAAN, NEA-BC, Professor Emerita,
University of Texas Health Science Center, San Antonio School of Nursing, San Antonio,
Texas
Judith Lambton, EdD, MS, RN, Professor Emerita, School of Nursing and Health Professions,
University of San Francisco, California; Adjunct Professor, Rafic Hariri School of Nursing,
American University of Beirut, Beirut, Lebanon
Mary Lynne Knighten, DNP, RN, PN, NEA-BC, Independent Hospital and Healthcare
Consultant, Knighten Consulting, Los Angeles, California
Lisa J. Massarweh, DNP, RN, PHN, NEA-BC, CPHQ, CCRN-K, Executive Director,
Patient Care Services, Performance & Workforce Strategy, Kaiser Foundation Hospitals,
Northern California; Robert Wood Johnson Foundation Executive Nurse Fellow (2006–2009)
Juli Maxworthy, DNP, MBA, RN, CNL, CPHQ, CPPS, CHSE, FSSH, Assistant Professor,
School of Nursing and Health Professions, Past Chair, Healthcare Leadership and Innovations
Department, Director, BSN to DNP Program, University of San Francisco, San Francisco,
California; CEO, WithMax Consulting; Secretary, Society for Simulation in Healthcare;
Region One Coordinator, Sigma Theta Tau International, San Francisco, California
Anna Mullins, PhD, RN, Adjunct Faculty, School of Nursing, University of California,
San Francisco; Healthcare Consultant, San Francisco, California
ix