NURS 523 QUESTION SET TWO Budget Variances Questions 1-6 are worth 10 points each. Questions 7 and 8 are worth 15 points each. Compile all questions and responses in a single Microsoft Word document. The document must follow current APA format (current APA format and writing style is worth 10 points) and include a title page and a reference page. 1. Why is it important for a nurse leader to understand variance reporting? How does this reporting become a valuable tool? 2. Staffing is usually the most expensive resource in the provision of care. What reports would provide the nurse leader with valuable information regarding this expense? 3. As a nurse manager of your unit, why is it important to keep track of education, meeting, and orientation hours? 4. What resource is available for the nurse leader to identify reimbursement for Medicare and Medicaid patients? 5. Why do freestanding skilled nursing facilities function more profitably than skilled nursing facilities in acute care organizations? 6. What is a cost-to-charge ratio? Why should a nurse leader understand this ratio, and how would he or she utilize it? 7. What are the top ten diagnosis-related groups (DRGs) in your organization? Has the administrative team determined if each is cost effective? Is this accurate? If not, how would you determine whether they are cost effective? 8. In the new value-based reimbursement environment, what other measures can a nurse leader take to enhance reimbursement and prevent revenue loss