professor reply


While preparing any kind of budget, it is practically impossible to spend the exact budget hence resulting in a budget deficit or surplus (Penner, 2004). Therefore, budget variance in health care is the difference between the amount that has been budgeted for the health care operations and the actual amount that has been spent in the operations during that period.

The following are the different types of variance in a health care institution;

• Profit Variance

Profit Variance refers to the difference that exists between the projected profit and the actual profit that the institution has made.

• Rate or Price Variance

The rate or the price variance refers to the difference between the cost budgeted and the actual cost of non-personnel and personnel items in an expense budget report. The fixed-rate variance sources may be difficult to control. For example, if the utility cost increases within the budget year, the utility provider cannot be changed until the next fiscal year.

• Quantity or Efficiency Variance

The quantity or efficiency variance refers to the difference between the actual and the budgeted number of personnel and non-personnel inputs that will be used per service unit or period.

A nurse manager needs to understand variance reporting since through the understanding of the overall financial performance of the health care institution, the nurse can use the information collected to identify the problem so that it can be fixed to improve the overall performance of the health care institution (Cross, 2019). The variance reporting tool becomes a valuable tool since through it, the cause of variance can bedetermined hence assisting the nurse manager to identify and correct the variance.


Cross, V. (2019, March 12). The Role of Variance Analysis in Businesses. Retrieved from…

Penner, S. (2004, October). Controlling Budget Variance. Retrieved from

Please reply to the professor 100 words one reference

In inpatient Unit, Why is it important to determine which statistics are being captured and included to reflect your unit activities?


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