The Bottom Line: A Standardized Approach to Preparation for Financial Management and Business Acumen in the Nurse Manager Role

UNCG Author/Contributor (non-UNCG co-authors, if there are any, appear on document)
James T. Camp (Creator)
The University of North Carolina at Greensboro (UNCG )
Web Site:
Eric Gill

Abstract: Background: After assuming the role, nurse managers are briefly introduced to healthcare business and finance concepts and not given the appropriate education or opportunities to learn and apply these principles which results in decreased contributions to organizations financial goals. Purpose: This study is to explore the creation of a standardized financial and business management class for nurse managers that incorporates a detailed overview of healthcare business and finance concepts with specifically targeted education domains for the nurse manager role. Methods: This project used a quality improvement quasi-experimental pilot design approach to test the effectiveness of the newly developed educational course for nurse manager skill, knowledge, and confidence development. The design also ensured the testing of nurse managers’ perceptions about their preparation for the role.Results: Post-survey mean scores increased overall compared to the pre-survey results. The project confirmed the following assumptions: 1) the standardized nurse manager business and finance orientation content focusing on daily operations instead of the broad concepts enhances nurse manager comfort. 2) The more structured exposure improved nurse managers' knowledge with financial and business concepts. 3) Standardized orientation for nurse manager roles ensures better preparation for handling daily operations. Recommendations and Conclusion: Future research recommendations should include the outpatient and ambulatory services area. Further testing with a larger sample to confirm results is also recommended.The project included a review of the current scholarly sources retrieved from the CINHAL, PubMed, and Proquest databases. Keywords included: Nurse Leader OR Nurse Leadership OR Nurse Manager AND Education OR Preparation OR Preparedness OR Readiness AND Financial Management OR Business Skill OR Business Management.

Additional Information

Language: English
Date: 2023
Nurse Leader, Nurse Leadership, Nurse Manager, Education, Preparation, Preparedness, Readiness, Financial Management, Business Skill, Business Management

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