Write an analysis of why it is important for nurse managers to understand principles of capital budgeting.

Write an analysis of why it is important for nurse managers to understand principles of capital budgeting.

Write an analysis of why it is important for nurse managers to understand principles of capital budgeting. Describe a costly new piece of equipment you would like your organization (or one with which you are familiar) to purchase. (I work at the Veterans Hospital in Primary Care). Explain strategies for demonstrating the need for this equipment to decision makers. Briefly outline how you could use financial data and emotional appeals to demonstrate the benefits of this purchase.Danna, D. (2014). Essential business skills for nurse managers. Health Leaders Media. Retrieved from http://www.strategiesfornursemanagers.com/ce_detail/204441.cfm#This article discusses the need for nurses to understand the business skills necessary in healthcare today.Himmelstein, D. U., Jun, M., Busse, R., Chevreul, K., Geissler, A., Jeurissen, P., & Woolhandler, S. (2014). A comparison of hospital administrative costs in eight nations: US costs exceed all others by far. Health Affairs, 33(9), 1586-1594.Copyright 2014 by Project Hope/Health Affairs Journal. Reprinted by permission of Project Hope/Health Affairs Journal via the Copyright Clearance CenterThis article compares the hospital administrative costs in several nations.Zismer, D., Sterms, J., & Claus, B. (2011). Capital efficiency and integrated health system designs. Healthcare Financial Management, 65(7), 88–90, 92, 94.In this article, the author examines how system designs play a crucial role in capital efficiency and return on investment. The author also analyzes how this role may change in the future.

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