Weekly Q&A: Data-collection mechanism to support the budget
HCPro's Weekly Update on the ANCC Magnet Recognition Program®*, January 10, 2006
This week,a reader wants to develop a mechanism for collecting data to support a budget and asks for a suggested method. Read the response below from our advisor, Barbara L. O'Brien, RN, MSN, Cert., president, Magnetic HealthCare Strategies, LLC, in Manchester, NJ.
Q: I would like to develop a mechanism for collecting data to support decisions made regarding the budget. Any suggestions?
A: One idea to meet this need is to create a balanced scorecard (i.e., dashboard or report card). This mechanism can be as simple as a monthly Excel spreadsheet that lists financial targets v. expense variables, balanced with quality outcomes. Some of the quality indicators may include infections, satisfaction scores, patient falls, pressure ulcers, employee injuries, and patient or family complaints. Financials could include budget dollars, mix of staff, total care hours, RN direct-care hours, vacancies, and turnover. In one glance, you can see whether any imbalances exist on a given unit.
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