You are the new leader of a small health care organization. You have been asked to prepare the initial budget for this entity. Describe the steps you would take to develop this budget and how you would prioritize resources.© BrainMass Inc. brainmass.com June 4, 2020, 1:30 am ad1c9bdddf
Please find guidelines and ideas for Budget Development for Small Health Care Organization in the attached file.
Running Head: SMALL HEALTH CARE ORGANIZATION
Budget Development for Small Health Care Organization
Budget is a most important element of an organization for the successful implementation of strategies and day to day business activities. An effective budget helps to provide financial guideline for the organization to achieve strategic goals. This paper discusses the steps in developing budget and also set the priority of resources in budget for small health care organization.
Steps for Budget
In order to develop the budget for small health care organization, important steps are as follows:
Identifying Scope and Goals of Budget:
In the First step of developing health care budget, leader would define the goals and scope of the budget. It is a most important step to make an effective budget for the organization. In scope of budget, a leader would consider that what services and payments are provided by the organization. A budget for health care organization would be cover all services related to health care and future benefits such as elective, long term care of patients and services that covered by a health insurance policy. Leader would also determine the goals of the budget that is hoped to be accomplished in the specific period of time. In this step, HR manager would play an important role to set the goals of budget. Scope of budget would be helpful to leader in planning process of budget (Alexander, Corrigan, Hankins, Gorski & Perucca, 2009).
Review Current Statements:
In second step of budget development, review of current financial statement would help to develop new budget for the organization. Current financial statements would include income ...
The solution discusses the initial budget creation of a small health care organization.