05 Sep HA499 Unit 6 Discussion
You have been tasked as the health care administrator of a major hospital to create a financial plan for your organization. What would you include in your financial plan? Compare an operating budget versus a capital budget? Include examples of each budget in a hypothetical department or unit of a hospital. Cite and reference your resources.
In two separate paragraph give your personal opinion to Samantha Taylor and Dina Alani
Dina Alani
A financial plan includes all aspects of financial stability and growth of the organization. Business plan for a major hospital may consist of:-Its estimated Income related to hospital charges for admission of patients, Income on account of Government grants.
Income on account of fees from medical college interns. Fixed cost related to hospital staff estimated the stock requirement of medicines.cost for prices of a doctor. Administration cost
Estimated capital expenditure on purchase of testing machines and other monitoring equipment. Let us form the capital budget and revenue budget for the Intensive Care Unit (ICU). Revenue budget or Operating budget consists of incomes and expenses which are recurring in nature, whereas the capital budget includes receipts and payment, which are nonrecurring or one time in life. In the case of ICU
The capital budget will include:-
A testing machine, Monitoring equipment
Beds, Medicine and test sample storage units
Revenue budget will consist of:-Staff Salary, Medicinal expense
Doctor fees, Patient receipts for admission
Utility payments, Admin expenses.
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