Healthcare Financial Management
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Questions and Answers

What is a key element in making discipline fair and growth-producing, according to McGregor’s Hot Stove Rule?

  • Frequent rule changes
  • Public humiliation
  • Forewarning (correct)
  • High penalties for mistakes

Which of the following is a characteristic of destructive discipline?

  • Use of threats and fear (correct)
  • Encourages individual growth
  • Administered fairly
  • Focuses on employee support

How should rules and regulations be handled in an organization?

  • They should be regularly reviewed for relevance. (correct)
  • They should be flexible and not reviewed.
  • They should only exist if they are exhaustive.
  • They should rarely be enforced.

What is one major aspect of problem-solving within decision-making?

<p>Systemic analysis of a situation (B)</p> Signup and view all the answers

Which of the following describes self-discipline in an organizational context?

<p>Encourages personal responsibility and initiative (A)</p> Signup and view all the answers

What should be done when an employee is suspected of chemical impairment?

<p>Immediate confrontation by the manager is necessary. (C)</p> Signup and view all the answers

What is the primary focus of effective time management?

<p>Making optimal use of available time (B)</p> Signup and view all the answers

What distinguishes training from education?

<p>Training is structured for immediate application. (B)</p> Signup and view all the answers

What is a common outcome when rule violations go unpunished within a group?

<p>Adjustment to low-level performance begins (C)</p> Signup and view all the answers

What type of negligence involves a failure of a trained professional to act reasonably?

<p>Professional negligence (D)</p> Signup and view all the answers

What is essential for effective organizational communication?

<p>Clear, simple, and precise messages (B)</p> Signup and view all the answers

Which is NOT a component of progressive discipline?

<p>Public shaming (B)</p> Signup and view all the answers

Which of the following chemicals is most frequently abused by nurses?

<p>Alcohol (A)</p> Signup and view all the answers

What aspect is vital for building an atmosphere of self-discipline?

<p>Mutual trust among employees (B)</p> Signup and view all the answers

What is the primary objective of fiscal planning in nursing management?

<p>To optimize resource use for organizational goals (D)</p> Signup and view all the answers

Which of the following best describes cost containment in healthcare?

<p>Efficient service delivery while ensuring revenue generation (D)</p> Signup and view all the answers

Which of the following is a common criticism of Health Maintenance Organizations (HMOs)?

<p>Longer wait times for care (C)</p> Signup and view all the answers

In Maslow's Hierarchy of Needs, what must occur before an individual seeks self-actualization?

<p>Satisfaction of basic survival needs (B)</p> Signup and view all the answers

Herzberg's motivators do NOT include which of the following?

<p>Salary (A)</p> Signup and view all the answers

What is the main concept of Vroom's Expectancy Theory?

<p>Individual expectations influence behavior and performance (C)</p> Signup and view all the answers

Which management theory suggests that employees should be stretched beyond their capabilities?

<p>Saul Gellerman's Theory of Stretching (C)</p> Signup and view all the answers

Which of the following represents a 'Theory Y' perspective on employee motivation?

<p>Employees seek responsibility and enjoy work (A)</p> Signup and view all the answers

What is one common pitfall affecting performance appraisals?

<p>Central tendency in employee assessment (C)</p> Signup and view all the answers

What should appraisal criteria NOT include to ensure effective performance assessment?

<p>Recent issues weighing heavily (D)</p> Signup and view all the answers

Which appraisal tool directly rates performance against a set of job behaviors?

<p>Checklists (A)</p> Signup and view all the answers

What is a key factor that influences the attitude and productivity of employees?

<p>Manager's attitude and energy level (D)</p> Signup and view all the answers

Which of the following represents the fourth phase of the management process?

<p>Doing (A)</p> Signup and view all the answers

When implementing effective feedback, what should managers ensure?

<p>Day-to-day feedback is provided regularly (A)</p> Signup and view all the answers

What is the main intent behind establishing rules and regulations within an organization?

<p>To define a clear course of action and maintain standards (B)</p> Signup and view all the answers

In the context of the Hot Stove Rule, which factor is critical for effective discipline?

<p>Consistency in enforcing rules (A)</p> Signup and view all the answers

Which of the following best describes self-discipline in a workplace environment?

<p>Employees taking ownership of their behavior and performance (D)</p> Signup and view all the answers

What should be the primary focus in confronting a chemically impaired employee?

<p>Gathering evidence and ensuring prompt confrontation (D)</p> Signup and view all the answers

How can an organization prevent the demoralization of staff amid understaffing issues?

<p>Making decisions that comply with labor laws and policies (A)</p> Signup and view all the answers

Which element is NOT a characteristic of progressive discipline?

<p>Immediate termination for minor infractions (C)</p> Signup and view all the answers

Which communication strategy enhances understanding in an organization?

<p>Employing multiple communication methods (C)</p> Signup and view all the answers

What should the manager do if an employee's behavior demonstrates defensive denial upon confrontation about impairment?

<p>Outline a clear plan for overcoming impairment (B)</p> Signup and view all the answers

Which best describes the difference between training and education?

<p>Training is designed for immediate use while education is broader (D)</p> Signup and view all the answers

How can poor time management impact a healthcare organization?

<p>It can result in decreased patient satisfaction (A)</p> Signup and view all the answers

Which factor is crucial for creating an atmosphere of mutual trust in an organization?

<p>Transparent communication practices (B)</p> Signup and view all the answers

What is a primary characteristic of professional negligence?

<p>Failing to act in a reasonable and prudent manner (D)</p> Signup and view all the answers

What is the primary goal of fiscal planning in nursing management?

<p>To allocate resources efficiently for organizational goals (D)</p> Signup and view all the answers

What common issue can result from enforcing minimal rules and regulations in an organization?

<p>Minimal accountability for actions taken (C)</p> Signup and view all the answers

Which factor is NOT considered a hygiene factor according to Herzberg's theory?

<p>Achievement (A)</p> Signup and view all the answers

Which is an effective strategy to increase self-discipline among employees?

<p>Encouraging employee identification with organizational goals (A)</p> Signup and view all the answers

What characteristic is associated with Theory X employees?

<p>Dislike work and avoid responsibility (C)</p> Signup and view all the answers

What does Victor Vroom's Expectancy Theory emphasize?

<p>Expectations of rewards can influence behavior (D)</p> Signup and view all the answers

Which phase of management is referred to as the 'doing' phase?

<p>Directing (C)</p> Signup and view all the answers

Which of the following is a criticism of HMOs?

<p>Longer wait times for care (C)</p> Signup and view all the answers

According to Maslow's Hierarchy of Needs, which need must be satisfied first?

<p>Physiological (D)</p> Signup and view all the answers

What is the essence of coaching during a performance appraisal?

<p>To enhance future performance and develop skills (C)</p> Signup and view all the answers

What is the role of cost containment in healthcare?

<p>Enhance service delivery and revenue generation (D)</p> Signup and view all the answers

What is the primary concern regarding moral hazard?

<p>Overutilization of services due to insurance coverage (B)</p> Signup and view all the answers

Which appraisal tool evaluates performance using a narrative format?

<p>Essays (B)</p> Signup and view all the answers

What is a major pitfall related to performance appraisals?

<p>Central tendency in evaluation scores (A)</p> Signup and view all the answers

What is an implication of the recency effect in performance appraisals?

<p>Recent performance can overshadow the entire evaluation (B)</p> Signup and view all the answers

What is a basic need identified by David McClelland in his Basic Needs Theory?

<p>Achievement (B)</p> Signup and view all the answers

Flashcards

Fiscal Planning

A continuous process involving decisions about using resources to achieve organizational goals.

Cost Containment

Providing healthcare services efficiently and effectively while generating revenue for the organization.

Budget

A numerical plan that predicts the activities of an organization over a specific period.

HMO Criticisms

Concerns about HMOs include loss of physician-patient relationships, limited choice of physicians, lower continuity of care, reduced physician autonomy, longer wait times, and confusing rules.

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Moral Hazard

Patients using more healthcare services than necessary because their insurance covers a large portion of the cost.

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Patient Protection & Affordable Care Act (PPACA)

Comprehensive insurance reforms phased in over four years, aiming to expand health insurance coverage and affordability.

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Fourth Phase of Management Process

The 'doing' phase of management, also known as directing, coordinating, and activating.

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McGregor's Theory X & Y

Two contrasting theories about employee motivation: Theory X assumes employees are lazy and require strict management, while Theory Y assumes employees are self-motivated and responsible.

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Maslow's Hierarchy of Needs

A theory suggesting people are motivated by a hierarchy of needs, ranging from basic survival to self-actualization, and they seek higher needs only after lower ones are met.

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Herzberg’s Motivators & Hygiene Factors

Motivators like achievements, recognition, and growth enhance job satisfaction. Hygiene Factors like salary and working conditions prevent dissatisfaction but don't necessarily motivate.

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Vroom's Expectancy Theory

People's expectations about their environment or events influence their behavior. If an expected reward doesn't occur, they're less likely to repeat the behavior.

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McClelland's Basic Needs Theory

Three basic needs motivate people: achievement, affiliation, and power.

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Gellerman's Theory of "Stretching"

Periodically challenging individuals with tasks that are more difficult than usual, encouraging growth and maximizing potential.

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Theory Y Employees (McGregor)

Employees who enjoy work, are self-directed, responsible, creative, and seek challenges.

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Creating a Motivating Climate

Management strategies to motivate staff and increase morale, such as recognition, rewards, and positive feedback.

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Destructive Discipline

A punitive approach that uses threats and fear to control behavior, often leading to an atmosphere of anxiety and mistrust.

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Self-Discipline

The ability to control one's own behavior and actions based on internal values and goals.

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Hot Stove Rule

McGregor's principle that effective discipline should have four elements: forewarning, immediate consequences, consistency, and impartiality.

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What are the 4 elements of the Hot Stove Rule?

The four elements are:

  1. Forewarning: Employees should be aware of the rules and consequences.
  2. Immediate Consequences: Discipline should be immediate and follow the offense closely.
  3. Consistency: Everyone is treated equally for the same offense.
  4. Impartiality: Discipline is applied fairly, without personal bias or favoritism.
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Progressive Discipline

A systematic approach to discipline that involves a series of escalating steps, starting with a verbal warning and progressing to dismissal.

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Profile of an Impaired Nurse

A nurse who exhibits behavioral changes impacting their personality, job performance, time, and attendance, often characterized by denial when confronted.

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Chemicals Most Commonly Abused by Nurses

These include alcohol (most common), Demerol, OxyContin, Klonopin, Valium, and Morphine.

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Confronting the Chemically Impaired Employee

A process involving gathering evidence, direct confrontation, avoiding counseling (focus on the plan), and reporting to a nurse manager.

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Decision Making

A complex cognitive process involving the selection of a course of action from multiple available options.

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Problem Solving

A systematic process involved in decision making, analyzing a difficult situation, and finding a solution.

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Time Management

The effective use of time to achieve desired goals.

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Organizational Communication Strategies

Methods for enhancing effective communication within an organization, considering factors like structure and feedback.

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Ordinary Negligence

Failure to act in a reasonable and prudent manner, resulting in harm to another person.

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Professional Negligence (Malpractice)

Failure of a trained professional to act in a reasonable and prudent manner within their field.

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Training VS Education

Training is a specific, job-oriented skill development, while education is a broader, more formal process of knowledge acquisition.

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What is a budget?

A numerical plan that predicts what an organization will do with its money over a specific period of time. It helps ensure resources are used wisely to reach short-term and long-term goals.

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What's a Moral Hazard?

When people with health insurance tend to use more medical services than they might if they had to pay the full cost out-of-pocket.

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What are some criticisms of HMOs?

Some criticisms include: loss of physician-patient relationships, limited physician choice, lower continuity of care, reduced physician autonomy, longer wait times for care, and confusing rules.

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Fourth Phase of Management

This is the 'doing' phase of management. It involves putting plans into action, coordinating teams, motivating people, and dealing with conflicts.

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What are Herzberg's Motivators?

These are factors that can actually motivate employees, such as achievement, recognition, challenging work, responsibility, growth opportunities, and advancement.

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What are Herzberg's Hygiene Factors?

These are factors that prevent dissatisfaction but don't necessarily motivate. They include things like salary, supervision, job security, good working conditions, and positive relationships with co-workers.

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What is Vroom's Expectancy Theory?

This theory states that people's expectations about their environment or certain events influence their behavior. If an expected reward doesn't happen, they are less likely to repeat that behavior in the future.

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What is McClelland's Basic Needs Theory?

This theory suggests that people are motivated by three basic needs: achievement, affiliation, and power.

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What is Gellerman's 'Stretching' Theory?

This theory suggests that regularly challenging people with tasks that are slightly harder than they are used to can energize them and help them reach their full potential.

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What are some strategies to create a motivating climate?

Strategies include recognizing achievements, rewarding good work, and providing positive feedback, especially close to the time of the event.

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Why is the attitude and energy of managers important?

The attitude and energy level of managers directly affects the attitude, motivation, and productivity of their employees.

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Study Notes

Fiscal Planning

  • A continuous process involving decisions about using available resources to achieve organizational goals
  • A learned skill that improves with practice
  • An important aspect of planning, often neglected, reflecting the organization's philosophy, goals, and objectives
  • A crucial skill for today's nursing managers in the context of increased emphasis on finance and healthcare
  • Managers must monitor and evaluate all aspects of the unit's budget control

Cost Containment

  • Effective and efficient delivery of services while generating needed revenues for continued organizational productivity
  • The responsibility of every healthcare professional

Budget

  • A plan that uses numerical data to predict organizational activities over a period of time
  • The desired outcome is maximal resource use to meet organizational short and long-term needs
  • Criticizing HMOs can involve discussing loss of existing physician-patient relationships, limited choice of physicians, lower continuity of care, reduced physician autonomy, longer wait times, and consumer confusion about rules.

Moral Hazard

  • Refers to the tendency of insured patients to utilize more medical services than necessary because insurance covers much of the cost

Patient Protection and Affordable Care Act

  • Comprehensive insurance reforms phased in over four years

Management Process - "Doing" Phase

  • AKA directing, coordinating, and activating
  • Includes creating a motivating climate, establishing organizational communication, conflict management, facilitating collaboration, negotiation, and compliance with employment laws.

McGregor's Theories X and Y

  • Theory X: Employees dislike work, avoid responsibility, and need close supervision/rewards & punishment to be motivated
  • Theory Y: Employees enjoy work, are self-directed, seek responsibility, and can contribute meaningfully to problem-solving

Maslow's Hierarchy of Needs

  • Self-actualization occurs when an individual maximizes his/her potential.

Herzberg's Motivators and Hygiene Factors

  • Motivators: achievement, recognition, work, responsibility, advancement, and growth possibilities
  • Hygiene Factors: salary, supervision, job security, working conditions, personal life, and interpersonal relationships. Managers should focus on both aspects to motivate staff.

Victor Vroom's Expectancy Theory

  • A person's behavior is influenced by their expectations about rewards and their environment.
  • Lack of expected rewards reduces the likelihood of repeating a behavior.

David McClelland's Basic Needs Theory

  • Achievement, affiliation, and power are primary motivators.

Saul Gellerman's Theory of "Stretching"

  • Encouraging individuals to periodically take on more challenging tasks

Appraisal Tools and Processes

  • Recency, Halo, and Horns effects can impact appraisal accuracy
  • Common pitfalls include using a limited data set, overlooking past performance, and allowing personal bias to influence assessments. This leads to ineffective feedback
  • Various appraisal tools exist including trait rating scales, job dimension scales, behavioralally anchored rating scales, checklists (behavior-based), essay and self-appraisal.
  • Management by objectives (MBO) and Peer review are other methods used to assess performance

Coaching during Performance Appraisals

  • Coaching should be integrated into the appraisal process.
  • Managers should provide feedback and support throughout the process.

Communication Strategies

  • Leaders should understand organizational structure for effective communication
  • Clear, simple, and precise communication is essential. Multiple communication methods increase the likelihood of successful message transmission

Types of Negligence.

  • Ordinary Negligence
  • Professional Negligence ("Malpractice")

Training vs Education

  • Training focuses on specific job skills.
  • Education aims for broader skill development.

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Nursing Management PDF

Description

This quiz covers essential concepts of fiscal planning, cost containment, and budgeting within healthcare organizations. It aims to assess your understanding of financial management skills crucial for nursing managers navigating today's healthcare environment. Test your knowledge on how to effectively allocate resources and manage organizational finances.

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