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HEALTHCARE FINANCE AND ADMMINSTRATION

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  • Post Date 2021-01-06T04:49:06+00:00
  • Post Category Research Paper Queries

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HEALTHCARE FINANCE AND ADMMINSTRATION

Taado – healthcare finance and admminstration assignmnet
Find an existing budget from a published source {preferable hospital budgets). Detail should be extensive enough to present a challenge. (1). Using the existing budget, create a new budget for the next fiscal year. Set out the details of all the assumptions you needed in order to build this budget.

(2). Use the “Checklist for Building a Budget” (Exhibit 15-2) and critique your own effort. Exhibit 15-2 Checklist for Building a Budget 1. What is the proposed volume for the new budget period? 2. What is the appropriate inflow (revenues) and outflow (cost of services delivered) relationship? 3. What will the appropriate dollar cost be? (Note: this question requires a series of assumptions about the nature of the operation for the new budget period.) 3a. Forecast service-related workload. 3b. Forecast non-service-related workload. 3c. Forecast special project workload if applicable. 3d. Coordinate assumptions for proportionate share of interdepartmental projects. 4. Will additional resources be available? 5. Will this budget accomplish the appropriate managerial objectives for the organization?

(3). Use the “Checklist for Reviewing a Budget” (Exhibit 15-3) and critique the existing budget Exhibit 15-3 Checklist for Reviewing a Budget 1. Is this budget static (not adjusted for volume) or flexible (adjusted for volume during the year)? 2. Are the figures designated as fixed or variable? 3. Is the budget for a defined unit of authority? 4. Are the line items within the budget all expenses (and revenues, if applicable) that are controllable by the manager? 5. Is the format of the budget comparable with that of previous periods so that several reports over time can be compared if so desired? 6. Are actual and budget for the same period? 7. Are the figures annualized? 8. Test one line-item calculation. Is the math for the dollar difference computed correctly? Is the percentage properly computed based on a percentage of the budget figure?


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