How would you respond to this? When

How would you respond to this? When it comes to healthcare, many people would say patient care is a priority and I would agree. However, patient care is not the only important factor, finances pay a huge role in healthcare. Healthcare, general speaking is expensive and many healthcare organizations need to ensure they make a profit. The purpose of this discussion is to explain three business principles that maintain patient care but also produces revenue and is fiscally sound. According to Fisher, there are ten basic business principles that a business leader should possess to not lose focus and gain from their business (2008). One of the principles are to decide who you serve. I selected this principle because, it is very important for a business leader to know their target audience. For example, a director of nursing in a nursing home should know the criteria to be admitted into the nursing home. Is there a minimum age? Are certain insurances not accepted? Are certain medical cases not accepted? The director of nursing should know the limitations of the nursing home. My old business used this principle. If a patient is accepted whom the nursing home cannot provide adequate resources for, there could be financial chaos. If the nursing facility cannot tolerate vented patients but accepts one, they are now liable. They must purchase necessary equipment and if things fail, they can be sued. Knowing who you serve helps you save money and allocate resources. At my old facility we tried to ensure that we were capable of helping any patient we could. The second principle I chose was to manage customer expectations. We should promise the minimum and exceed expectations (Fisher, 2008). I chose this principle because we deal with it in everyday work. When dealing with patients and patient families, much is requested. Some are simple request and others ask for miracles. When we only promise what we know we can achieve, there is less expectations as well as sometimes less emotional stress. When we promise what we can achieve at the bare minimum then we can work hard to try and overdeliver for that patient or family. These actions increase patient satisfaction and keeps the business in business. When a business has a reputation that they provide optimal care and honesty, people will choose that business over and over. The third principle I chose was to maintain integrity. I choses this principle because, nurses are known as one of the most honest professions (Gaines, 2022). Having a level of integrity makes it so much easier to abide by the other nine principles. Patients appreciate this and will keep spending their money and time there. My current place of work uses both of these principles. In conclusion, business principles help business owners have successful business in both customer service and finances. Business principles can relate to any type of business, including healthcare. These basic principles are important to me because it is relevant with mu core nursing principles, morals, and foundations. Patient care is of the utmost importance but being financially secured is a priority as well. SCIENCE HEALTH SCIENCE NURSING NRSE 4600

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