Analysis of Health Care Budgets
Not what you're looking for?
When analyzing an expense report of a general medical floor in a hospital what are some benchmarking techniques that can be used to avoid budget variences and those that might improve budget accuracy in future forecasts.
Purchase this Solution
Solution Summary
Some benchmarking techniques include setting budgets based on a strategic point of view to fund future growth and operations. First set the volume or revenue side of the budget and then balance it by driving down the cost side and by providing managers with the following year's budgets based on historical performance to hold costs down. The budget can be managed through educating hospital management about budgeting and finance, offering incentives to stay within budgets, holding budget variance meetings with managers, and requesting corrective action plans from managers whose budgets are outside targets, setting accurate budgets, establishing accountability, monitoring variances, and managing expenses.
Solution Preview
Analysis of Budgets in Health Care
When analyzing an expense report of a general medical floor in a hospital what are some benchmarking techniques that can be used to avoid budget variances and those that might improve budget accuracy in future forecasts.
Some benchmarking techniques include setting budgets based on a strategic point of view to fund future growth and operations. First set the volume or revenue side of the budget and then balance ...
Purchase this Solution
Free BrainMass Quizzes
Tumor Markers
This quiz help you memorize common tumor markers used to detect and diagnose some types of cancer.
First Aid
Do you know how to provide first aid?
Celiac Disease
This quiz will provide a brief introduction to Celiac Disease. Questions will focus on definitions and symptoms.
CPR (Red Cross Standards)
Are you up to date on your CPR skills? Find out if you know what to do in an emergency with this quiz.
What everyone should know about MRSA
This quiz focuses on what everyone should know about community MRSA. Community MSRA is an infection in healthy people.