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September 30, 2021How might you increase revenue in each of the areas? Think outside of the box, and perform research to determine current trends in those areas. Why would there be a need to increase payroll, particularly nurses’ salaries?
How might you increase revenue in each of the areas? Think outside of the box, and perform research to determine current trends in those areas. Why would there be a need to increase payroll, particularly nurses’ salaries?
Fiscal Managment in Healthcare Service.100% NO PLAGARISM. PowerPoint presentation of 10–15 slides + speaker notes of 150 words per slide and reference page
PowerPoint presentation of 10–15 slides + speaker notes of 150 words PER SLIDE
3 scholarly references
LAST YEAR’S BUDGET IS ATTACHED!!
100% NO PLAGARISM
As a member of the finance team, you have been asked to forecast the upcoming year’s operational budget for Krona Community Hospital. Last year’s budget is attached. After reviewing specific data, internal input, and external input from various sources, you find that the executive management team would like the budget to reflect the following:
10% increase in inpatient revenue
15% increase in outpatient revenue
5% increase in pharmacy revenue
15% increase in home health and hospital revenue
10% increase in payroll and benefits
Note: The budget should be formatted to reflect the percentage increase or decrease from last year’s budget.
Additionally, provide discussion on the following:
How might you increase revenue in each of the areas? Think outside of the box, and perform research to determine current trends in those areas.
Why would there be a need to increase payroll, particularly nurses’ salaries?
Provide an explanation as to how the Krona Community Hospital may be able to achieve an increase in the revenue areas that the chief executive officer (CEO) wishes you to address.
LAST YEAR’S BUDGET BELOW!!!!
KRONA HOSPITAL OPERATING BUDGET FOR 20XX
Revenues
Inpatient $25,000,000
Outpatient 15,000,000
Emergency Room 10,000,000
Laboratory 5,000,000
Pharmacy 1,500,000
Home Health and Hospice 1,500,000
Ambulance Services 950,000
Substance Abuse 250,000
Other 850,000
Subtotal $60,050,000
Less Chartiy Care 18,000,000
Net Revenues $42,050,000
Expenses
Payroll (including nursing salaries) $12,500,000
Benefits 3,000,000
Contract Labor 100,000
Insurance 300,000
General Services (laundary, security, etc) 3,000,000
Depreciation 1,500,000
Interest Expense 300,000
Professional Services 10,000,000
Total Operating Expenses $30,700,000
Net Income $11,350,000
Attachments:
hcm410_budget_template_phase_2_ip.xlsx
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