What is it important for a nurse leader to understand variance reporting? How does this reporting become a valuable tool?

• Because staffing is usually the most expensive resource in the provision of care, what reports would provide you with valuable information for this expense?
• Contract labor is usually the most expensive man-hours. Why?
• What is a cost-to-charge ratio? Why should a nurse manager understand this ratio, and how would he or she use it?
• Finance departments regard nursing units as not being revenue generators. Why do you believe they are inaccurate in their assessment?
• In the new value-based reimbursement environment, what other measures can a nurse manager take to enhance reimbursement and prevent revenue loss?