Healthcare benchmarking and quality analysis 2

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 Description

You are a staff member in the finance department at Nouveau Health, whose sole responsibility is to advance the success of the organization through assisting in planning, forecasting, and finance management.

Complete the following:

  • Prepare next year’s financial plan and operational budget.

Note: Use the budget attached; it did not take into account the growth of the new facility. The CEO has asked that you expand that budget and provide a finalized budget that will take into account the new services offered. The CEO has stated that there is $3 million that you can incorporate in to the budget for additional staffing, services, maintenance, and so forth.

20XX

KRONA HOSPITAL OPERATING BUDGET FOR 20XX
Revenues
Inpatient $ 25,000,000
Outpatient 15,000,000
Emergency Room 10,000,000
Laboratory 5,000,000
Pharmacy 1,500,000
Home Health and Hospice 1,500,000
Ambulance Services 950,000
Substance Abuse 250,000
Other 850,000
Subtotal $ 60,050,000
Less Chartiy Care 18,000,000
Net Revenues $ 42,050,000
Expenses
Payroll (including nursing salaries) $ 12,500,000
Benefits 3,000,000
Contract Labor 100,000
Insurance 300,000
General Services (laundary, security, etc) 3,000,000
Depreciation 1,500,000
Interest Expense 300,000
Professional Services 10,000,000
Total Operating Expenses $ 30,700,000
Net Income $ 11,350,000

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