Jan 25, 2024 Healthcare Benchmarking and Quality Analysis 2
Description
You are a staff member in the finance department at Nouveau Health, whose sole responsibility is to advance the success of the organization through assisting in planning, forecasting, and finance management.
Complete the following:
Prepare next year’s financial plan and operational budget.
Note: Use the budget attached; it did not take into account the growth of the new facility. The CEO has asked that you expand that budget and provide a finalized budget that will take into account the new services offered. The CEO has stated that there is $3 million that you can incorporate in to the budget for additional staffing, services, maintenance, and so forth.
HCM410_Budget_Template_U1Submission.xlsx
20XX
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
Sheet2
Sheet3
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