Development of a financial management competency framework for Nurse Managers in public health care organisations in the province of KwaZulu-Natal, South Africa

Abstract

The increased cuts in health care funding and severe financial constraints has necessitated that the Nurse Manager become financially conscious and provide efficient quality care while at the same time cutting costs and reducing expenditure. This, in turn requires an understanding of financial management. Nurse Manager’s knowledge is very limited. The aim of the study was to explore the financial management roles of Nurse Managers in their current work environments, identify financial management development needs necessary for Nurse Manager’s practice and to develop a financial management framework to improve the skills of Nurse Managers. A qualitative, naturalistic paradigm was used. Interviews were conducted with 18 participants. The results revealed that Nurse Managers participate in financial management activities within the hospitals and identified eight main themes namely financial planning, financial monitoring, financial decision making, financial control, inadequate financial management competencies, educational preparation for financial management in nursing programmes, guidance and training for financial management role and need for financial management competency development. Nurse Managers have a financial management function in the public health care organisations. They do not have the necessary skills, knowledge and competencies to function in this role and require additional knowledge, skills and training. A competency framework was subsequently developed to improve the financial management competencies of Nurse Managers. Keywords: Competency, Financial management, Framework, Nurse Manager