The present constrained economic climate faced by health care agencies underscores the need for nurse administrators to have an in-depth appreciation of how nursing services are being used. The purpose of this investigation was to increase the understanding of nursing as a resource, Using phenomenological research methodology, the investigator purposefully selected six patients and a chain sample of 14 professionals responsible for their care, including nurses, nurse managers and physicians, Data collection methods included in-depth interviews, document reviews, and participant observation. The inductive interpretation depicts the nature of nursing resource to be 'caring time'. Caring was understood primarily in terms of time and was experienced by all participants as 'spending time', Caring time was spent through 'being with' and 'doing to/doing for' the patient. Study participants experienced tension with regard to how best to spend precious 'caring time'. Nursing resource was inextricably linked to both quantitative and qualitative expressions of nursing, and 'being with' patients was a highly valued, under-allocated, and unintentionally provided component of nursing resource. The researcher concluded that nursing administrators, nurse managers and practitioners all have leadership roles to play in achieving recognition, allocation and promotion of caring time within their agencies.