NR630 Week 4 FTE/Variance Assignment Latest 2018 December Question # 00597164 Course Code : NR630 Subject: Health Care Due on: 01/23/2019 Posted On: 01/23/2019 06:38 AM Tutorials: 1 Rating: 4.8/5

NR630 Nurse
Executive Practicum

Week 4
FTE/Variance Assignment

Purpose

The purpose of this assignment is to provide learners with
the opportunity to gain financial management skills by calculating full-time
equivalents for a nursing unit and analyzing a variance scenario.

Due Date: Sunday 11:59 p.m. MT at the end of Week 4

Total Points Possible:
100

REQUIREMENTS:

Answer the questions and complete the calculations required
for the two sections of the assignment.

• Calculations
of full-time equivalents (FTEs)

• Variance
analysis

Submit your answers on a Word document,with the heading of
Week 4Assignment. For the questions requiring a written response, please adhere
to proper grammar and syntax, and provide references. For the questions
requiring calculations, show all your work and follow the format that has been
provided for the calculations in the lesson for Week 4.

PREPARING THE PAPER

Section One—Calculation of Full-Time Equivalents

Personnel Budget Case Study

Linda Watson has recently accepted a position as the
assistant administrator for the department of nursing at St. Joseph Hospital.
There have been both personnel and financial problems at St. Joseph Hospital,
and recently, the Catholic Healthcare System purchased the hospital. Like
Linda, all of the management staff is new. Linda’s first priority is to assist
the nurse managers in preparing their cost centers’personnel budgets for the
coming fiscal year. She has decided to begin with the nurse manager on 1 West,
a step-down nursing unit. Linda wants to do extensive data collection and create
a solid base for making projections.

1. Suggest all the information Linda needs to collect to
prepare a budget for 1 West;be sure to include background data on the unit
itself as it relates to previous budgets, nursing staff, and the organization.
In other words, summarize your approach to this Case Study—briefly state the
organization’s goals (customer-service orientation) for the coming year,
trends, any changes in trends that you may anticipate—such as growth in the
patient population and the types of data that need to be collected in order to
make decisions about staffing levels and ratios.

2. Linda has collected the following information, in
addition to what was asked in question number one:

Patient Data:

Average
Daily Census 30

Unit
Capacity 32

Average
HPPD 8.8

Total
Care Hours 96,360

Staff Data:

Productive
hours/employee/year 1,780

Nonproductive
hours/employee/year 300

Total
Hours/employee/year 2,080

Skill Mix:

RNs 80%

LVNs 10%

Nurse
aides 10%

Average Salary per Employee Category:

RN $40.00/hour

LVN $22.00/hour

Nurses
Aide $14.00/hour

Calculate the number of productive full-time equivalents
(FTEs) that would be needed. Show your calculations.

3. How many RNs,
LVNs, and nurses aides will be needed to staff this unit, assuming staff will
be working 12-hour shifts? In other words, how many person-shifts will be
required during a 24-hour period?

Day
Shift 50%

Night
Shift 50%

4. Assign
staff by type and by shift.

Day Shift 50%

Night
Shift 50%

5. Convert staff positions to FTE
positions.

Section Two—Variance Analysis

Variance Analysis Case Study

During the month of February, an outpatient surgery clinic
has incurred a significant unfavorable variance. The director of the clinic is
quite concerned, as this has never occurred before. The director gathers
information on total nursing care hours, average hourly rate of the employees,
and total patient visits to determine what caused the variance. In addition,
the director receives the patient acuity levels for the month of February.

1. BPi $40.00

2. BQi 5.0 hours per care per
patient

3. BQo 340 visits

4. APi $45.00

5. AQi 5.6 hours per care per
patient

6. AQo 400 visits

1. Compare the
original budget to the flexible budget and calculate the volume variance.
Compare the flexible budget to the actual budget and determine the price and
quantity variances. Work through the entire analysis process as presented in
your lesson for Week 4,and remember to show your calculations.

2. What
factors caused the difference in the variances? Analyze all the factors
thatmade the differences and why the variances occurred.

Category	Points	%	Description
Background Information	15	15%	Typically, the description of the maximum level of performance is provided here
Calculation of Full-Time Equivalents (FTEs)	10	10%
Shifts Required During a 24-Hour Period	10	10%
Staff Assigned by Type and Shift	10	10%
Staff Positions to FTEs	10	10%
Calculation of Volume Variance	10	10%
Calculations of Price and Quantity	10	10%
Calculation of Total Variance	10	10%
Analysis of Variances	15	15%
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