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Budget Prioritization

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What do you think is the most important budget consideration in strategic planning? Why? Please include a reference in APA format so that I can expand on this topic. Thank you/1

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Solution Summary

An example of the importance of prioritizing a hospital capital budget.

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Budget Prioritization

Types of Budgets

When formulating a strategic plan, health care organizations have finite resources to reconcile with almost infinite needs. If the strategic plan is to be relevant and achievable, leadership must prioritize the plan's strategic goals and then allocate the financial resources required to support accomplishment (Gibson, Martin, & Singer, 2004). The budget can generally be divided in to two broad categories, operating budget and capital budget.
Executive leadership must evaluate proposed budgets from all ...

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