Sigma Publications: Book Excerpts
![[Excerpt from] Nursing-Led Savings](https://www.sigmarepository.org/book_excerpts/1049/thumbnail.jpg)
Other Titles
Chapter 1: Financial Stewardship: Framing the "why"
Abstract
This item record pertains to an excerpt from Nursing-Led Savings, which is provided free of charge by the publisher.
About this book: The quest for cost savings in hospitals and health systems too often prompts leaders to rush to make major cuts in the largest budget line item: staffing and labor costs. Evidence shows, though, that cutting labor expenses, especially in nursing, negatively impacts both quality of care and overall profitability.
Faced with cutting costs while continuing to provide extraordinary patient care, nurses at Children’s Hospi-tal of Philadelphia (CHOP) decided to pave a different path. In the process, they created a new model of bedside-driven fiscal responsibility.
Nursing-Led Savings shows organizational leaders at all levels how to develop and implement a robust, sustainable plan that eliminates waste and stream-lines processes in everyday clinical work. This strategy involves:
- Educating frontline staff on the importance of financial stewardship
- Using a structured improvement approach to execute cost savings at the bedside
- Engaging Nursing Shared Governance councils in implementation and oversight
- Prioritizing nonlabor expense reduction
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Files
Sigma Membership
Alpha Nu
Lead Author Affiliation
Children's Hospital of Philadelphia, Philadelphia, Pennsylvania, USA
Type
Book Chapter
ISBN
9781948057165
Format Type
Text-based Document
Study Design/Type
Expert Opinion (nationally/internationally recognized)
Research Approach
N/A
Keywords:
Cost-saving Solutions, Bedside Financial Stewardship, Healthcare Finance, CHOP Improvement Framework, Improvement Methodologies, Nonlabor Expense Reduction, Shared Governance, Children’s Hospital of Philadelphia
Recommended Citation
Agosto, Paula; Bernstein, Megan; Gebeline-Myers, Cheryl; Noll, Jackie; and Steck, Jessica, "[Excerpt from] Nursing-Led Savings" (2019). Sigma Publications: Book Excerpts. 50.
https://www.sigmarepository.org/book_excerpts/50
Publisher
Sigma Theta Tau International
Version
Publisher's Version
Rights Holder
Copyright © 2025 by Sigma Theta Tau International Honor Society of Nursing - All rights reserved. This book is protected by copyright. No part of it may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without written permission from the publisher. Any trademarks, service marks, design rights, or similar rights that are mentioned, used, or cited in this book are the property of their respective owners. Their use here does not imply that you may use them for a similar or any other purpose.
Review Type
None: Professionally Edited Material
Acquisition
Publisher-submission
Date of Issue
2019
Full Text of Presentation
wf_yes
Description
This item record contains the following file attachments: Chapter 1; a Questions Handout; Author Bios; the Forward; the Introduction; and the Table of Contents