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Healthcare budget

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The scenario is in an acute care hospital setting:
- What is an operating budget?
- What is a capital budget?
- Why is a capital budget developed separately from the operating budget?
- What is the definition of a capital budget item in a organization?
- An example of a possible capital request in an organization?

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What is an operating budget?
An operating budget defines a company's estimated revenues and expenses for a set time period, usually 1-year.

What is a capital budget?
A capital budget defines a company's ability to make a large purchase (i.e. property, plant and equipment initial purchase or upgrade). The ...

Solution Summary

Solution is comprised of defining an operating budget and capital budget and answers the question why a capital budget is developed separate from an operating budget. Also defines what a capital budget item in an organization is and provides an example of a possible capital request in an organization.

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How to build a Healthcare Budget and control

I have applied to take charge at 3 facilities (Nursing Home, Acute Care Hospital & Veteran's Hospital). I am currently being considered to take one of the positions. (Chose just 1)

I need help in preparing the following:

•Provide the role of government programs on any 1 of the chosen facility's number of beds, length of stay, and inpatient and outpatient or transitory status.

•Examine at least 3 government or non-government sources of information that I can use to compare with a current budget (e.g., benchmark information).

•Evaluate what adjustments that I can make based on the following considerations:
•size
•location
•payer mix
•And any others.

•Develop a final budget for the facility—based on the sources of information—to include at a minimum cost or 1 full year:
*Personnel costs and equipment costs
*Repair and maintenance costs
*Utilities and facility costs
*Administration costs, and so on

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