Fundamentals of Quality Improvement and Financial Management for Nurse Leaders

This course introduces two major and important management concepts for nurse leaders: quality process improvement and budget management. The first part of the course examines the fundamental concepts of healthcare process improvement. The course introduces the students to various quality management models for continuous improvement such as, but not limited to, the PDSA, six sigma and LEAN methodologies. The course explores the basic kinds of measures, the run charts, cause-effect diagrams, fishbone diagrams, and the systematic approach to error called root cause analysis (RCA). The course examines the role of the nurse leader in a multidisciplinary team or in leading quality improvement initiatives in healthcare organizations. The remainder of the course examines the principles of budgeting and its practical applications in healthcare organizations. Specific techniques of health care budgeting and variance analysis are explored. Excel computer software programs to prepare graphs, charts, and other budgeting applications are used to provide hands-on skills for budget preparation. The purposes and application of budgets in healthcare, including long range planning, programming, budget operations, capital budgets, and fixed and variable costs are analyzed. Prototypes of zero-based budgeting, cost estimation and forecasting, performance budgeting, and capital budgeting are analyzed throughout the course. The course culminates with student presentations of a budget for a nursing unit or for a project proposal that apply the principles learned in class.