Financial competencies as investigated in the nursing field: Findings of a scoping review

Abstract

Aim(s): This study aims to map the extent of the research activity in the field of financial competencies and nursing and identify main patterns, advances, gaps, and evidence produced to date. Background: Financial competencies are important indicators of professionalism and may influence the quality of care in nursing; moreover, these competencies are the basis of health care sustainability. Despite their relevance, studies available on financial competencies in the nursing field have not been mapped to date. Evaluation: A scoping review was guided according to (a) the Preferred Reporting Items for Systematic Reviews and Meta-Analyses extension for Scoping Review and (b) the Patterns, Advances, Gaps and Evidence for practice and Research recommendations framework. Key issue(s): A total of 21 studies were included. Main research patterns have been developing/evaluating the effectiveness of education programmes and investigating the nurse's role in the context of financial management, challenges and needs perceived by them, and tool validation to assess these competencies. The most frequently used concept across studies was 'financial management competencies' (n = 19). Conclusion(s):The sparse production of studies across countries suggests that there is a need to invest in this research field.

Evaluating financial management competency in primary healthcare managers of Kondoa, Iramba, and Sumbawanga District Councils, Tanzania

“…Similarly, a study by [11] revealed the prevalent unmet financial management needs in public health in the context of LMICs. Moreover, [12] reported a limited study of financial management competency in healthcare. This highlights the paucity of empirical research on financial management expertise at the primary healthcare level in LMICs [12,15,16,17] and this matter remains open for debate among researchers, policymakers and practitioners in the LMICs [13,12].…”

“…There are significant knowledge gaps concerning the financial management skills of healthcare managers in LMICs, which need to be investigated [14,12] and this applies to Tanzania as well [13]. This research paper aims to address the questions related to the financial managerial skills of primary healthcare facility managers.…”

An educational program to elevate the financial acumen of nurse leaders

“…Prior to recent years, financial and business skills weren't commonly introduced in undergraduate nursing curricula and were inconsistently introduced in nursing master's and doctoral programs. 10,11 This resulted in a lack of standardization in financial and business training for new nurse leaders. Additionally, nursing makes up the largest workforce in healthcare, requiring nurse leaders to be responsible for the largest operational budgets in most healthcare organizations.…”

“…Traditionally, nurse leaders are promoted based on their clinical expertise rather than their business acumen. Prior to recent years, financial and business skills weren't commonly introduced in undergraduate nursing curricula and were inconsistently introduced in nursing master's and doctoral programs 10,11. This resulted in a lack of standardization in financial and business training for new nurse leaders.…”