Ultimately, the chapter discusses the impact of analyzing financial statement information on nurse managers and executives. As such, this chapter helps in defining and explaining financial management for nurses.
Chapter 8 explores cost analysis with respect to cost management especially in the health sector. This chapter defines and introduces cost management in health care and explains the basic concepts that drive cost analysis in any financial setup. More so, this chapter discusses various techniques that help in cost estimation in the health sector. With respect to cost analysis, this chapter defines and discusses break-even analysis to establish the most convenient financial level to operate (Finkler et al., 2012). The chapter also discusses the impact of cost management on nurse managers and executives. According to this chapter, all nurse managers and executives should ensure that the financial position in healthcare should meet the break-even point for it to remain profitable. This is only achievable through cost management.
Chapter 9 discusses how to determine the healthcare costs and prices. The chapter highlights the factors to consider while determining the healthcare costs and prices. These factors include the costs for reporting versus the costs for management, traditional cost-finding methods, and costing out nursing services (Finkler et al., 2012). The chapter reckons a specific approach to costing nursing services that determines the healthcare costs and prices. The chapter establishes product-line costing and activity-based costing as methods of determining the healthcare costs and prices. Moreover, it recognizes setting prices, nursing intensity weights, and financial reimbursement for nursing services as aspects that determine the healthcare costs and prices in healthcare (Finkler et al., 2012). Ultimately, the chapter establishes the key concepts of determining the healthcare costs and prices and defines the limits of the relative ...
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