Nursing
“What business principles are associated with patient and system cost?”
All organizations, regardless of their form or size tend to have certain basic principles to succeed. In the health sector, Greg fisher’s principles also tend to be vital towards effective management of business operations (Fisher, 2008). As a nursing director, I note that these principles are relevant in the running of daily care operations, in particular, in determining what to do and what to not, who to serve, and most importantly how to manage cash flow closely. These three principles tend to form the basis of all healthcare decisions. Most health leaders often rely on these principles while making deciding on how they should use resources effectively, the customers they should serve, and how cashflows within the healthcare should be managed.
In my place of work, these principles are always used as part of guiding policies. As a nursing director, my functions always center around health care service management. That is, my responsibilities always involve overseeing patients care and nursing personnel as well as performing administrative functions such as budgeting and record-keeping (Fisher, 2008). To accomplish these tasks, most leaders including me tend to apply these principles as guides during decision making. For example, to maintain focus on business goals and avoid too many diversions, I have in many cases relied upon Greg’s principle to narrow my focus on what I should do and what I shouldn’t. Besides, all leaders, irrespective of the department, do recognize that they must follow these principles to understand their patients and how to maintain focus on their needs. Finally, on financial issues, the cash flow management principle is always considered when creating healthcare system costs.
The three-business principles highlighted above are always vital in every healthcare system. This because they often help such organizations maintain quality, safe, and patient-centered care to their customers. For example, in healthcare management, most leaders are always pulled by different healthcare issues that impair their focus. However, by applying these principles, they get to decides what they should do and what they shouldn’t, and in doing so, they get a chance to manage time and resources to improve health quality and address issues of safety (Fisher, 2008). Besides, these principles are essential to encouraging patient-centered care. That is, by deciding on who to serve, health organizations get the chance to focus intensively on services needed by targeted patients. This in turn improves quality as well as patient’s safety within these health facilities. Lastly, maintaining the long-term health of these organizations requires constant cash flow management. Failure to consider this principle, healthcare organization might risk closing down, especially when they don’t monitor their cash flows.
In conclusion, as a nursing director, I believe these principles are always central to my career success. Far too often, I’ve seen directors lose concentration due to work pressure and many other issues. Such instances always lead to management problems, especially when they are expected to turn things around during hard times (Sullivan & Garland, 2010). However, in my case, having learned and applied these principles as a guide, I have been able to undertake my responsibilities more effectively. For instance, using these principles as a guide has enabled me to understand my roles better, particularly the essential task I should do, the needs of those I should serve, and finally how to closely monitor and manage the organization’s cash flow for better budgeting.
Response to Naudia. S
Hi Naudia, I’m impressed by your post regarding this week’s discussion. You have captured key business principles that are very essential in the management of various healthcare provision services. You have talked about cash flow management, employees’ management, and customer expectation management which I believe are essential for the smooth running of health facilities. After reading your post, I have gained more confidence in taking up a leadership role in a health set up. I’m convinced that the three highlighted principles can meet the threshold to make one a better manager. Fisher (2008) argues that the management of customer demands and employees’ welfare is integral for a successful business. In my workplace, my manager has been at the forefront advocating for better treatment of both employees and customers. I believe that such information can be of great help to my manager who is committed to making the company great again.
Response to Cassie. S
Hi Cassie, I enjoyed reading your post on business principles. Right from the introduction, you have clearly stated the essence of business principles in nursing management. Having a clear introduction gives the readers a clear picture of what the post is all about. In your discussion, you have stated three business principles which I believe are vital for a nurse manager. Meeting customer’s demand and having control of cash flow in an organization is crucial for the proper management of resources. In my nursing practice, my nursing manager has been pushing nurses to prioritize the patients and to do all it takes to meet the patient’s demand. I believe that such information can be vital in making a better nursing manager. Great work Cassie!
References
Fisher, G. (2008). Top 10 Basic Business Principles. Slideshare.net. Retrieved 24 June 2020, from https://www.slideshare.net/GregFish/top10-basic-business-principles/11.
Sullivan, E. J., & Garland, G. (2010). Practical leadership and management in nursing. Pearson Education.