HCS 577 WEEK 5 Health Care Budget
HCS 577 WEEK 5 Health Care Budget
HCS 577 WEEK 5 Health Care Budget Note. You will use this assignment as a basis for your Individual assignment due in Week Six.
HCS 577 WEEK 5 Health Care Budget Resources: Budgets under Chief Financial Officer in the Patton-Fuller Community Hospital Virtual Organization, Material: 2010 Operating Budget Projection, Health Care Budget Grading Criteria located on your student website
Review the 2009 Operating Budget Projections and the assumptions following the projected numbers in the Budgets tab under Chief Financial Officers in the Patton-Fuller Community Hospital Virtual Organization on the student website.
Assume the 2009 projections were realized.
Use the Material: 2010 Operating Budget Projections.
Develop a budget for Patton-Fuller Community Hospital based on the 2009 Operating Budget and the 2010 Operating Budget Assumptions.
Write a 1050- to 1,400-word paper in which you do the following:
- Discuss which financial management practices are most effective in creating and monitoring an operating budget.
- Discuss which financial management practices are least effective in creating and monitoring an operating budget.
Format your assignment consistent with APA guidelines.
Submit your 2010 Operating Budget Projection with your paper.
- Explain the decision-making processes in creating a budget.
- Explain the role of variance analysis in maintaining an operating budget.
- Differentiate between managerial accounting and financial management.
- Analyze how generally accepted accounting principles in the health care industry apply to your Operating Budget Projection.
- Analyze the decision between the two labor alternatives facing the management of PFCH and the annual cost increase of each.
- Evaluate the labor alternative you would recommend. Your justification should present numbers related to fiscal management including how each decision impacts the 2010 Budget Projection.
- Analyze the effect of the labor alternative you recommended would have on the operating budget with respect to each of the following:
- The opportunity cost of your recommendation.
- How your recommendation impacts employee satisfaction.
- How your recommendation impacts patient care and patient satisfaction.
Cite a minimum of four sources.Format your sources consistent with APA guidelines.Submit the 2010 Operating Budget and Analysis Paper.
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