Financial incentives for meeting budgets?
- 0Mar 3, '05 by big sweet lifeI am curious if anyone has ever been in a nursing mangement position where bonuses or "perks" are recieved for meeting or coming in under budget for various operating costs of a unit? If not, have you ever heard of this type of incentive at other facilities?
ex: equipment purchases, staffing budgets, materials purchases, etc.
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- 0Mar 10, '05 by kitty=^..^=catI worked at a facility that incentivized managers to come in under budget for the year by offering a 15% annual bonus (based on salary). Those that developed processes to assure the cost-effectiveness of department operations were given additional percentages based on specific criteria. It was wonderful!!
Although the bonuses amounted to a whole pile of money, it still worked in our budget and helped the managers learn the importance of being frugal with the organization's dollars.
- 0Mar 21, '05 by lee1Can someone please explain further how a middle level manager or upper level NURSE manager can get a financial bonus in a non-profit hospital??
What can you financially change?? Staff--FTEs, par levels, types/cost of equipment?
I understand pt satisfaction, personal goals, employee satisfaction, hosptial goals, etc