Development of a financial management competency framework for nurse managers at selected public hospitals in KwaZulu-Natal, South Africa

Abstract

Background In the South African context, the Nurse Manager (NM) is responsible for and manages the nursing side of the health care organisation. Public hospitals face the challenges of poor management, underfunding, deteriorating infrastructure and poor standards. The consequences are that NMs have to do more with less. This necessitates that the NMs should have the competencies and skills to enable them to use the existing resources more efficiently and equitably and be able to manage and contain costs within their departments. However, NMs do not necessarily have financial management skills and competencies to manage the current health care financial situation. This then highlights the need for financial preparation of all NMs.

Aim The aim of the study was to explore the financial management roles of NMs in their current work environments, identify financial management development needs necessary for NM practice, and ultimately to develop a financial management framework to improve the skills of NMs.

Methodology A qualitative, grounded theory approach was used to explore the financial management skills and competencies and developmental needs of NMs. Nursing Managers, Financial Managers, Operational Managers and Chief Executive Officers of public hospitals in KwaZulu-Natal participated in the study. The data was collected by means of interviews. The sample size for the interviews was guided by data saturation and comprised 18 participants.

Findings The study findings revealed that NMs are involved in financial management activities within the hospitals. However, they do not necessarily have the requisite financial management skills and competencies to function in their financial roles. From the findings the researcher was able to propose and

develop a framework to improve the financial management competencies of NMs in the public sector.

It was concluded that NMs do indeed practice financial management and therefore require the relevant knowledge, skills and competencies. Recommendations include the development of a financial management training programme to be implemented based on the identified needs of NMs in the public sector. Another recommendation is that undergraduate and post graduate nursing programmes include financial management programmes that would be relevant and applicable to the specific financial management activities that nurses practice daily.