The Role of HR in Health Care Settings

Janet has been working as a nurse manager for a little over six months. Since she took this position, nurses have asked her a variety of questions related to paid leave, health insurance coverage, retirement plans, and other important issues. Each new question causes Janet to wonder whether she is providing her staff with sufficient information. Janet realizes that she needs help answering these questions, and she is curious to see if she can enlist the assistance of someone in the Human Resources department. Despite her experience as a nurse and as a nurse manager, Janet is not sure what kind of support HR can provide, nor how and when she should request their help. Nurse managers may be uncertain about the roles that HR plays in health care organizations. In addition, many managers are unclear about how HR can support them with the staff function of their managerial responsibilities. As a nurse manager, what questions might you have about HR’s role? Furthermore, how have your previous experiences impacted your perceptions? To prepare •Reflect upon the role HR has played in your current organization or one with which you are familiar. What interactions have you noticed between HR professionals and other staff in this setting? How do these interactions compare to those of nurse managers and staff that you have observed? •Complete the media survey, “Survey on HR,” found in this week’s Learning Resources. Though this survey is not graded, take careful note of the questions asked and the correct answers. •Review Chapter 1, “The New Human Resource Management Process” in the course text, Human Resource Management: Functions, Applications, & Skill Development, as well as this week’s media, “Introduction to Healthcare Human Resource Management.” •Consider how your perceptions of HR are similar to or different from the roles of HR described in the Learning Resources. How does the role of HR differ from that of a nurse manager?

Post a description of your media survey experience, including your survey results and your reactions to the survey. Explain at least two perceptions that you held regarding the role of HR compared to the role of the nurse manager. Describe how these perceptions were similar to or different from the roles outlined in the Learning Resources. Without identifying individuals or organizations, support your response by briefly describing experiences that may have influenced your perceptions.

Learning Resources Required Readings Lussier, R. N., & Hendon, J. R. (2016). Human resource management: Functions, applications, & skill development (2nd ed.). Thousand Oaks, CA: Sage Publications. •Chapter 1, “The New Human Resource Management Process” (pp. 2–38) Chapter 1 provides an introduction to human resource management (HRM). It overviews the various disciplines of HRM, as well as the roles and skills that HRM professionals fulfill within organizations. This chapter also highlights why line managers should be aware of basic HRM functions. •Chapter 2, “Strategy-Driven Human Resource Management” (pp. 40–77) This chapter covers the importance of strategic planning and organizational structure. It also overviews organizational culture and strategic measurement tools. International Counsel of Nurses. (2011). International Centre for Human Resources in Nursing. Retrieved from http://www.icn.ch/pillarsprograms/international-centre-for-human-resources-in-nursing-ichrn/ The International Centre for Human Resources in Nursing (ICHRN) aims to address common health care challenges such as budget cuts and underemployment of nursing personnel by integrating meaningful data and best practices into health care settings. The ICHRN website provides nurse administrators with an online resource that assists them in HR-based endeavors. Required Media Laureate Education, Inc. (Executive Producer). (2006). Survey on HR [Interactive Media]. Baltimore, MD: Author. Before reading this week’s Learning Resources, take this survey to determine how much you already know about the role of HR. In addition, review this week’s Discussion and think about how you will use the results from this survey in your Discussion posting.

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You are evaluating the HomeNet project under the following? assumptions: Sales of 50,000 units in year 1 increasing by 49,000 units per year over the life of the? project, a year 1 sales price of $260?/unit, decreasing by 10% annually and a year 1 cost of $120?/unit decreasing by 20% annually. In? addition, new tax laws allow you to depreciate the? equipment, costing $7.5 ?million, over three years using? straight-line depreciation. Research and development expenditures total $15 million in year 0 and? selling, general, and administrative expenses are $2.8 million per year? (assuming there is no? cannibalization). Also assume HomeNet will have no incremental cash or inventory requirements? (products will be shipped directly from the contract manufacturer to? customers). ? However, receivables related to HomeNet are expected to account for 15% of annual? sales, and payables are expected to be 15% of the annual cost of goods sold. Under these assumptions the unlevered net? income, net working capital requirements and free cash flow are shown in the Table

Year 0 1 2 3 4 5

HomeNet

Units Sales? (000s) 49 50 99 148 197 –

Sales Price? ($/unit) 10?% 260 234.00 210.60 189.54

Cost of Goods Sold? ($/unit) 20% 120 96.00 76.80 61.44 ?-

Operating Expenses? ($000s) ?-

Hardware? & Software Develop.?(15,000) ?-

Marketing? & Technical Support ?(2,800)?(2,800)?(2,800)?(2,800) ?-

Capital Expenditures ?-

Lab Equipment ?(7,500) ?-

Depreciation ? 33%? 33% ? 33% ?- ?-

Marginal Corporate Tax Rate ? 40% ?40% 40% ? 40% ? 40% ?-

Year 0 1 2 3 4 5

Incremental Earnings

Forecast? ($000)

1 Sales ?- 13,000 23,166 31,169 37,339 ?-

2 Cost of Goods Sold – (6,000) ( 9,504) (11,366) (12,104) -3 Gross Profits ?- 7,000 13,662 19,803 25,235?-

4 ?Selling, General, and

Administrative ?- ?(2,800) ?(2,800) ?(2,800) ?(2,800) ?-

5 Research and

Development ?(15,000) ?- ?- ?- ?- ?-

6 Depreciation ?- ?(2,500) ?(2,500) ?(2,500) ?- ?-

7 EBIT ?(15,000) 1,700 8,362 14,503 22,435 ?-

8 Income Tax at? 40% ?6,000 (680) (3,345) (5,801) (8,974) ?-

9 Unlevered Net Income ?(9,000) 1,020 5,017 8,702 13,461 ?-

Free Cash Flow? ($000)

10 ?Plus: Depreciation ?- ?2,500 ?2,500 ?2,500 ? – ?-

11 ?Less: Capital

Expenditures ?(7,500) ?- ?- ?- ?- ?-

12 ?Less: Increases in NWC ?(1,050?) (999) (921) (815)

13 Free Cash Flow (16,500) 2,470 6,518 10,281 12,646 3,785

Using the FCF projections? given:

a. Calculate the NPV of the HomeNet project assuming a cost of capital of 10%?, 12% and 14%.

The NPV of the? FCF’s of the HomeNet project assuming a cost of capital of 10% is ????? . ? (Round to the nearest thousand? dollars.)

The NPV of the? FCF’s of the HomeNet project assuming a cost of capital of 12% is ???? . ? (Round to the nearest thousand? dollars.)

The NPV of the? FCF’s of the HomeNet project assuming a cost of capital of 14% is ???? . ?(Round to the nearest thousand? dollars.)

b. What is the IRR of the project in this? case?

The IRR is ?? ?%. ? (Round to one decimal? place.)

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