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Peer Evaluation Finance

Subject: Nursing
Number of words/pages: 390 words/2 pages
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Evaluation of Interview Questions

Financial management refers to the effective and efficient management of funds in a manner that helps in the accomplishment of the objectives of the organization. In order for these objectives to be achieved, organizations must comply with financial management principles. Based on this assessment and presentation of the nursing unit financial management, some of the interview questions were of good quality, others accurate and some were relevant to the principle of management. For instance one of the interview questions asking cost-saving strategies is very relevant to one of the principle of management which is spending less than you earn (Kelly, 2015). Similarly, a question relating to the staff shortage is something very critical and thus it is accurate to seek more staffs. Additionally, on how to identify the essential-to-operation FTE s is something that is based on the total patient volume, this is according to UM response and this is relevant to the principle of paying attention to the taxes because it helps in minimizing the excess amount of the cash that is used in remitting of the taxes when the employees are many (Knudson, 2014).

Critique

The content of the nursing unit financial management was well presented especially when it came to the computation of the nurse to patient ratio. Based on what had prepared by the manager, it was very clear that 136, 314.36 hours is what is needed to maintain the staffing (Gerwig, 2014). Similarly, the information contained in the assessment are well delivered and there is a good flow information. This is because the most of the interview question was well answered in its own slide thus enhanced visual representation of content. Moreover, the audio was presented giving out a clear message of what is contained in the content.

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Questions

  • How long does it take to notice if the supply cost has been reduced by involving all the staffs in education?
  • Which tool can be used by vendors to securely save the cost of supply spent by the department?

1. Gerwig, K. (2014). Managing and Minimizing Hospital Waste. Greening Health Care, 106-131.

2. Kelly, J. (2015). Financial Management for Nurse Managers: Merging the Heart with the Dollar. Journal of Nursing Management, 18(5), 618-618.

3. Knudson, L. (2014). Strategies for making best use of surgical supplies. AORN Journal, 99(3).

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