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Challenges and Strategies for Enhancing Nurse Managers' Financial Management Competencies: A Scoping Review.

Jiae Lee¹, Yoonjung Kim², Eunjin Kim³

¹Department of Nursing, College of Medicine, Catholic Kwandong University, Gangneung, South Korea, cku.ac.kr.

Journal of Nursing Management

|May 23, 2026

Summary

Nurse managers need better financial management skills due to growing responsibilities. Improving their authority, resources, and training is key to enhancing financial performance in healthcare.

Keywords:

cost control financial management health care costs health care economics and organizations hospital administration leadership nurse administrators

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Area of Science:

Healthcare Management
Nursing Administration
Financial Competencies

Background:

Growing financial responsibilities for nurse managers necessitate enhanced financial management skills.
Financial competencies have been historically undervalued compared to other leadership skills in nursing management.

Purpose of the Study:

Identify factors hindering nurse managers' financial management.
Determine practical approaches to improve financial management for nursing administration.

Main Methods:

Scoping review utilizing Arksey and O'Malley's five-stage framework.
Systematic literature search across PubMed, CINAHL, PsycINFO, and Scopus databases.

Main Results:

14 studies involving 1518 participants were included; most research (64.2%) originated from the USA.
Key challenges identified: insufficient awareness, limited authority, and inadequate resources/systems.
Effective strategies include practical experience, professional credentials, and targeted training programs.

Conclusions:

Strengthening nurse manager financial competencies requires institutional support and tailored education.
Aligning authority with responsibility, improving resource access, and promoting experiential learning are crucial.
Policy and structural changes in healthcare organizations can enhance leadership capacity and financial outcomes.