Examples of Productive and Non Productive Hours Questions

Examples of Productive and Non Productive Hours Questions Examples of Productive and Non Productive Hours Questions ORDER NOW FOR CUSTOMIZED AND ORIGINAL NURSING PAPERS Unformatted Attachment Preview Please reply to Research # 1- Ramon Need to reply with 1 to 2 paragraphs with a minimum of 250 words including 2 different reference with citation Question 1: Types of Budgets There are various types of budgets that entail a financial plan that is set for a particular period. One of these types is a cash flow budget that is structured around the establishment of a prediction of how and when the cash within a business will flow in or out within a particular predetermined time. An example of a cash flow budget is one when a company uses ventures into predicting whether it can begin investment activities in a new service or product or not (Weiss, Tappen, & Whitehead, 2019). After taking care of all the expenses, the company might invest the additional cash into charitable works that promote its Corporate Social Responsibility (CSR) activities. The other type of budget is a sales budget that provides the projected sales revenue as well as expenses for an organization within a specific period. The deposits of the organization are also based on this type of budget. An example of a sales budget is one that is structured on forecasting the value or quantity of services or products that are relevant to the respective organization. Question 2: Budgeting Budgeting entails the process of creating a plan that is supposed to determine the ways in which money and resources should be spent. By creating such a spending plan, the involved personnel are in a position to determine in advance if they have the necessary resources and finances to facilitate their intended activities. Budgeting also allows an individual to create a substantial plan that prioritizes their spending in case the available resources or finances are limited. Budgeting is essential because it allows an individual to ensure that they always have sufficient finances and resources to facilitate the necessary things. As a result of effective budgeting, the involved personnel are in a position to stay out of debt or help in coming out of debt in case it is prevalent. Question 3: Direct and Indirect Cost For a business to achieve its potential success, it is imperative that the managerial department clearly understands the aspects of direct and indirect costs. Examples of Productive and Non Productive Hours Questions. Direct costs are the expenses incurred by a business that can be easily connected to a particular cost object such as a product or a project (Amos et al., 2018). Such cost objects may include raw materials, software and labor. These costs are directly related to the provision of services and the production of goods. As for indirect costs, they extend beyond the expenses incurred in the establishment of a product. Such overhead costs are involved with running and maintaining the business and they are left over following the computation of the direct costs. Question 4: Examples of Productive and Non-productive Hours The productivity of an organization is determined as a functional unit of service that entails the productive and non-productive hours. The productive hours entail the time spent by an employee engaging in a productive task such as attending to a patient. Some examples of the productive hours are: taking care of a patient and administering medication. The nonproductive hours are based on the idle time that does not constitute to any productivity to the organization (Lazdins et al., 2015). Such hours include the paid off-duty hours, staff development, sick leaves, and holidays. During this time redundant activities prevail within the work setting that do not produce any value to the organization. Question 5: HMO, PPO, POS Meaning The abbreviations HMO stands for Healthcare Maintenance Organization, which is a network that is structured around the provision of insurance coverage for a fee set during a particular period (Vogenberg & Santili, 2018). An example of HMO within the state is the provision of Medicare services to patients from a specific provider who is referred to as the Primary Care Physician (PCP). As for PPO, it stands for Preferred Provider Organization which is an aspect of managed care insurance plan that is bound to promote the provision of maximum benefits through a physician or a provider (Weiss, Tappen, & Whitehead, 2019). The PPO also maintains the provision of coverage for the involved out-of-network providers. An example of PPO is the provision of discounts to regular patients within the state. Finally, POS represents Point of Sale which is the point where the provider passes their services or products to a patient thereby acting as a sales or stock control system. The application of POS within the state is based on the healthcare facilities focusing on specific groups of patients based on their historical medical records and their insurance coverage. Question 6: DRGs DRGs stand for Diagnosis Related Groups that entails a patient classification system that is structured around the standardization of prospective payment to various hospitals. Examples of Productive and Non Productive Hours Questions. The DRGs encourage the involved cost containment initiatives (Weiss, Tappen, & Whitehead, 2019). In this regard, DRG payments cover the involved charges that are associated with the stay of an inpatient that applies from the time they were admitted to the time they were discharged. Question 7: Examples of Strategies for Cost-conscious Nursing Practice that your Nursing Unit use to lower Medical Care Cost Lowering medical care cost is a crucial aspect of the success of a healthcare organization that requires some effective and substantial strategies that are based on cost-conscious nursing practices. In my nursing unit, the strategies used are ensuring that all the activities are conducted within the confines of the predetermined budget, creating reliable staff schedules, and reducing waste. References Amos, T. B., Tandon, N., Lefebvre, P., Pilon, D., Kamstra, R. L., Pivneva, I., & Greenberg, P. E. (2018). Direct and indirect cost burden and change of employment status in treatment-resistant depression: a matched-cohort study using a US commercial claims database. The Journal of clinical psychiatry, 79(2). Lazdinš, A., Prindulis, U., Kaleja, S., Daugaviete, M., & Zimelis, A. (2016). Productivity of Vimek 404 T5 harvester and Vimek 610 forwarder in early thinning. Agron. Res, 14, 475484. Vogenberg, F. R., & Santilli, J. (2018). Healthcare trends for 2018. American health & drug benefits, 11(1), 48. Weiss, S., Tappen, R., & Whitehead, D. (2019). Essentials of Nursing Leadership and Management, 7e. Philadelphia: F.A. Davis Company. Please reply to Research # 2 Nicole Need to reply with 1 to 2 paragraphs with a minimum of 250 words including 2 different reference with citation 1-Mention the types of budgets that you know and give examples of then? According to the principles that guide the nursing effectiveness in terms of finances, four main models of budgets can be implemented to determine the costing process into the nursing setting. Those methods are the incremental, the activity-based, the value-determination, and the zero-based (for non-profits hospitals). Starting from the model selected, the types of budget and the processes are implemented to ensure the financial viability of the institution. Starting with the Master budget, the process is intended to create the most complete and comprehensive projection in the projection of the whole system, including areas which are direct to the operations and those which are not. From the Master budget are segregate other budgets that respond to factors of cash, income, productions, or services. The Master budget involves all areas of the hierarchy matrix in order to determine what the performance objectives are and how those would be evaluated (Whitehead, Weiss & Tappen, 2015). The period of this budget includes the period cycle which is usually a fiscal year. Within the operational budget which evaluates how well the organization is meeting with the forecasted expenditures appears the financial budgets associated with finances, cash, and level of production or services. While the Cash Flow budget seeks for the precise determination of the inflows and outflows of cash from services and operation that ensure the organization´s capacity of payment in the short-term, the operations budgets seeks for the estimation of what are the most probable revenues that lead to the profits of the organization for at least covering the costs of operations. Usually, the operational and finance budgets include sections for operations, investments, and finances that are associated with other financial activities such as the Income Statement, Earnings Statements, and the Balance Sheet. Finally, there are a budget which is static because even though it should be processed under the GAAP principles of accounting and finance, it considers the regular and fixed expenditures that the institution should incur to develop the normal operations. Those processes and operations are fixed and routinely in the time. 2- What is budgeting? Budgeting should be considered as the conscious process from which the top management involves from the bottom-line to the highest hierarchy the detailed projection based on different scenarios about what would be the revenues and the expenses incur within a specific frame of time. The objective is to find where the money and resources are allocated and where are the most probable actions to take when there is any adverse situation. Examples of Productive and Non Productive Hours Questions. Then, by budgeting, the organization can determine what are the internal or external factors that introduces distortion in the planning and controlling processes. In any case, budgets are necessary for the organization’s survival and growth because it helps to control the costs while seeks for the maximization of the profit and results of the organization in the future. 3-What is directed and indirect cost? To understand the essence of direct and indirect costs, it is necessary to determine the nature of the costs itself. Direct costs can be traced into the unit, process, or services which means that it is transformed into cost objects. Among the cases for direct costs is possible to mentions direct labor (DL), direct materials (DM), rate wages per hour, or the supplies and materials used in the production. It is also important to mention that direct costs can be divided into variables and fixed. Contrary at this, there is the indirect costs which may not be allocated into the specific cost analysis for services and products. Within this category can be placed the supervisor´s salaries, quality-control costs, or insurance based on the periodicity and regular incurrence of the costs (making logical the presumption of fixed costs). 4- Give examples of productive and non-productive hours? Productive and non-productive hours depend on the level of productivity to measure in relation to how much work is achieved within specific amount of time. Considering that the more work a nurse done during specific frame of time, the higher productive that nurse is. However, to enhance the level of productive, there are different variables to consider from the most efficient management skills to the access for technologies and resources. In healthcare terminology, the non-productive time consider those paid off-duty hours, programmed holiday days, sick leave absences, or the time employed for the training and nurse development. In other occasion, even the travel time has been settled as non-productivity costs (Vanhook, 2017). On the other hand, as productive time entitles the hours on which a nurse is physically working, it can be considered as the nursing activities and interventions such as dispensing medication, implementing assessment, or developing plan of care. 5- What does HMO, PPO, POS mean? A) Mention one example of each of then in your city, or state? According to NCQA (2019), HMO, PPO, POS are acronyms that can be expressed as: 1. Examples of Productive and Non Productive Hours Questions. This plan allows the patient to choose a primary care physician who works as a partner within the network of affiliates for the insurance. It reduces the stress and worries in the process of seeking a medical provider. Examples of HMO in Florida are Florida Blue HMO and Florida Blue Preferred HMO (Blue Cross Blue Shield). 2. Examples of this modality of insurance are Aetna, Blue Cross BlueShield, and Cigna. 3. This plan has the peculiarity in which there is not a need of going to the primary provider to have a referral for the specialist. In addition, the patient can see physician inside or outside the network. Examples of PPO are Coventry Healthcare of Florida, United Health Care Services, and Aetna. 6- What is DRGs.? In the case of Diagnosis Related Group (DRG´s) is a tool for the patient classification based on a system that standardizes the prospective claims of payments which are applicable to hospitals while seeks for the determination of the costing initiatives. In simple words, the DiagnosisRelated Groups (DRGs) helps to categorize the inpatient hospital visits according to “the classification of the severity of illness, risk of mortality, prognosis, treatment difficulty, need for intervention, and resource intensity” (Diagnosis Related Group, 2018). The objective of any DRG´s system is the proper handle of the payment coverage where all charges related to the inpatient stance can be recorded and processed from the time of admission until the discharge of the patient. The integration of the system is intended to identify those services that a hospital provides and to generate the billing information with same standardization in same cases (for example when the nursing intervention is associated with an appendectomy case for any patient under same circumstances). 7- Give some examples of strategies for Cost-conscious nursing practice that your Nursing unit use to lower medical care cost? The nurses can implement different strategies for cost-conscious practice in order to lower medical care costs. As the nurses play an important role in the healthcare institution´s bottom line, they should think about the different ways to save money without sacrificing patient care because it represents an alternative to deliver stable services and the continuity of high-quality services and nursing care (Whitehead, Weiss & Tappen, 2015). For example, recording the patient´s information in electronic format or by ensuring the expenditures from nursing intervention within the boundaries of the budget can impact positively the level of costs. In same line, by creating adequate staff schedules that avoid overtime hours or improving the business model, costs allocation, and reimbursement practices bring beneficial contribution to the efficiency and the proper use of resources. References National Committee for Quality Assurance (NCQA). (2019). Florida Private Health Insurance Plan Ratings. Retrieved from http://healthinsuranceratings.ncqa.org/2015/search/Commercial/FL. Vanhook, P. (2017). Cost-Utility Analysis: A Method of Quantifying the Value of Registered Nurses. The Online Journal of Issues in Nursing. What is DRG. (2018, March). Diagnosis Related Group. Retrieved 2019, from https://icd.codes/articles/what-is-drg. Whitehead, D. K., Weiss, S. A., & Tappen, R. M. (2015). Essential of Nursing Leadership and Management (6th ed.). Philadelphia, PA: F. A. Davis Company. … Purchase answer to see full attachment Get a 10 % discount on an order above $ 100 Use the following coupon code : NURSING10