NURS FPX 6216 Assessment 1 Mentor Interview

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Mentor Interview

Healthcare facilities, like all other businesses, require operating budgets to keep track of revenues and costs. Nurture chiefs ordinarily work with working and capital financial plans (Mojtaba, G., 2018). To control spending and keep costs down in their departments, nurse leaders need to have the necessary financial management knowledge and skills. With enhanced financial management abilities, nurse leaders may be better able to deal with the current state of healthcare (Rundio, A., 2021). According to Mojtaba, G. (2018), while capital budgets deal with long-term or large items that require advance planning, the operating budget primarily includes short-term planning. I decided to conduct an interview with Carla Duffie, RN, DNP, my practice site nurse manager, to gain a better understanding of the financial aspects of nursing leadership. Dr. Duffie has worked in nursing for more than 30 years and has expertise in a variety of specialties. She has been the family medicine clinic’s practice site nurse manager at Augusta University Medical Center for 20 years. She has agreed to share her insight and knowledge about financial management, which is greatly appreciated (Interview, 2023).

NURS FPX 6216 Assessment 1 Mentor Interview

Comparison of Managing an Operating Budget 

Comparison of Managing an Operating Budget to Managing a Capital Budget During the interview with Dr. Duffie, I asked a few questions to learn more about the various budgets and how they relate to the clinic’s day-to-day operations. The operating budget and the connection it aims to fulfill were the subject of the first inquiry. Dr. Duffie expressed that the working financial plan assists with keeping the training/facility cost and yearly income was taken care of while keeping up with the structure (Interview, 2023). Residents can participate in patient care because Augusta University Medical Center is a teaching hospital. For instance, the costs and salaries of a first-year resident differ from those of second and third-year residents. Every year residency is determined to fit the working financial plan and over the objective of the facility, which additionally relates to the spending plan of the association. Dr. Duffie explains that once the operating budget is established, she can then purchase or regulate essential budgeting items like office supplies or scrubs for residents that are labeled for the clinic. I picked up during the meeting that the working financial plans are dealt with by the administrator for endorsement, and any deviations from the expected expenses and incomes are considered.

According to Dr. Duffie, capital budgeting entails a long-term setting that most often fits the practice’s overall aspect. According to Dr. Duffie, this will require a significant investment, resulting in increased patient loads and the need for additional residential placements. For instance, under the working financial plan, the quantity of inhabitants, including personnel, has been five or six, yet while utilizing a capital spending plan approach, the extension has been something like ten to twelve occupants, including the workforce. The community and the organization will both benefit from this.

Process of Allocating Resources

NURS FPX 6216 Assessment 1 Mentor Interview

Process of Allocating Resources for Labor, Equipment, and Services (Interview, 2023) According to Dr. Duffie, increasing expenditures and budgetary constraints have sparked a lot of discussion about how to best distribute resources across various healthcare systems. Any association’s primary need is reasonability. Making use of resources could be used to achieve this. Research cites evidence-based programs that limit, eliminate, or modify particular healthcare and information systems (Boggs et al., 2019). According to Brennan, K. (2018), these are risky and offer little in the way of benefits to improve patient outcomes while effectively managing the resources at hand.

Determine your total spending requirements

Budgetary decisions ought to be based as much as possible on facts and figures, whether they are past spending or well-informed predictions (Ajam et al., 2020). Determine the methods of funding and the division of the budget by department. Set up a system to keep track of your spending habits.

The importance of budget planning in business cannot be overstated. It contributes to planning for profitability and financial success. Associations, as of now, can’t use wise judgment in regard to long-haul arrangements or even everyday decisions without a legitimate planning system (Boggs et al., 2019).

NURS FPX 6216 Assessment 1 Mentor Interview

Sadly, many people are unaware of the significance of budgeting in businesses. It is regarded as a yearly obligation for the company, but it is not an essential component of day-to-day operations. This isn’t accurate. Dr. Duffie said that there are a lot of things that show how important strategic planning is. It is frequently the most important factor in determining the organization’s success in achieving its goals (Rundio, A., 2021). According to Brennan, K. (2018), budgeting helps an organization better understand priorities, figure out how resources might be distributed, and figure out which areas need to be reevaluated. Budgeting is just one tool that can be used to help formulate an organization’s operations.

NURS FPX 6216 Assessment 1 Mentor Interview

The budgets that nurses are responsible for daily monitoring are the operating budget and the capital budget. According to Mojtaba, G. (2018), the budgeting procedure is ongoing, ever-evolving, and offers input. At the point when to nurture pioneers begin to make a spending plan, they accumulate data, plan administrations and exercises, do them, and survey the outcomes. The institution’s finance department and the nurse leader typically collaborate on the budget’s creation (Rundio, A., 2021). Reports that are clear and ideal should be accessible to nurture bosses. A nurse manager must act immediately when expenses exceed revenues. Dr. Duffie stated in the interview that before presenting her plan to the administrative meeting, she always ensures that it is written down or typed into a PDF. She accepts suggestions and feedback that would help the fiscal year’s new budget succeed.


Ajam, S. o., Ghasemzad, A., & Gholtash, A. A. (2020). Staff perspective and hospital finance experts on how to manage the costs of the hospital: A qualitative study. Taṣvīr-i Salāmat, 11(2), 159-171.

Boggs, S. D., Tan, D. W., Watkins, C. L., & Tsai, M. H. (2019). OR management and metrics: How it all fits together for the healthcare system. Journal of Medical Systems, 43(6), 1-8.

Brennan, K. (2018). Successful healthcare financial management requires imagination and a solid plan. Healthcare Financial Management, 72(11), 20-20.

Interview. (2023). Carla Duffie, RN, DNP-Nurse Manager for Ambulatory Care Family Medicine

Mojtaba, G. (2018). Performance assessment and capital budgeting based on performance. Benchmarking: An International Journal, 25(6), 1729-1745.

Rundio, A. (2021;2022;). The nurse manager’s guide to budgeting and finance (Third;3; ed.). Sigma Theta Tau International.