A group of doctors want to form a medical group for $100 million dollars, in any major city.
How do you write a proposed $100 million expenditure plan, reflecting objectives including financial, legal and the alternative health care model? How do you do capital budgeting and strategic planning?
An effective expenditure planning is an essential activity for the new and existing organization. With the help of this planning, an organization will be able to create an estimate about the expenditures for the next year. In order to form a medical group for $100 million dollars, there will be a need to establish an effective expenditure plan. It will support the management to make effective planning for the expenditure and will also provide the guidelines for the management team on how to create planning to purchase new equipment in forming the medical group.
Aims and Objectives
The main aim of this expenditure plan is to provide detailed information about the expenditure in the year. The aim of expenditure planning is also associated with the development of understanding of the medical group about the purchasing of equipment and facilities. The main objectives of the expenditure plan will be as follows:
? To receive high returns on the expenditures.
? To reduce the financial risks.
? To create a legal allocation of resources within the organization.
? To improve the healthcare model in the organization.
In order to write an effective expenditure plan for the medical group, the manager will need to collect all the information related to the expenses. In this, the manager will consider all the needs such as building, electronic equipments, vehicles, staff, machinery, and facilities that will be used in forming the medical group. In order to plan and examine all these things, the manager will also set the priorities in his mind. This will support the manager to provide effective directions to the medical group towards the goals and objectives. After considering all these things, the manager will also evaluate the cost of the new assets. It is because there will be a difference between the expected rate and actual rate of assets. In this, the manager will ensure that all the required things are in budget, and there will be no problem in purchasing the new assets for the forming medical group in an effective way (Medical Group Management Association & Schryver, 2002).
After getting all these things, the manager will also examine the requirements of personnel. In this, the manager will calculate the required employees according to the different branches and activities. This will be helpful for the manager to identify the employees and their skills and knowledge. In order to form a medical group, a ...
The expert writes a proposal for $100 million expenditure plan. Financial, legal and an alternative health care model is determined. Essential activities are determined.