Developing a nursing budget involves several steps: - Assessment of Needs: Evaluate the current and future needs of the nursing department. - Revenue Projections: Estimate potential revenue from patient care services, insurance reimbursements, and other sources. - Expense Forecasting: Project costs associated with personnel, supplies, equipment, and other operational needs. - Budget Approval: Present the proposed budget to senior management for review and approval. - Implementation: Allocate funds according to the approved budget and monitor expenditures regularly.
