Answered Essay: Consider your health care organization or another health care organization with which you are familiar. What are the steps t

Consider your health care organization or another health care organization with which you are familiar. What are the steps to develop a budget in your organization?

Expert Answer

 

Steps involved in preparation of budget with respect to health care organisation.

1. Identifing the purpose for which the budget is being prepared ie Definition of objectives:

with respect to health care organisation the sole objective is to allot maximum patient hours and managing available resources with demand to increase the revenue and Quality of service to patients and public.

2.Identification of Budget Factor: Budget factor means whose availability is less than its requirement and puts a limit on the firms objective of maximum profitablity.

we use service sector costing for health care services and the Deemed cost unit is Patient Days , Room days or operations , so we should first identify the availability of rooms , doctors and subsequent allocation of them in tune to demand.

3.Budget committee and controller: Specific person should be assigned with the objective of preparation of the budget and understanding variances with bugdet and how to control them.usually these persons are allocted to all departments in the organisation and a Controller is appointed to coordinate and development of a master buget.

In Health care services , we have pharmacy department supplies department laboratory department and service department for whom their should be a controller to manage the allocation and resource according to the budgets and report variances.

4.Budget Manual : is a written document of budget which is given to each department to follow according to the allocation to avoid bottle neck situations.

In simple terms , the budgets for a health organisation are prepared based on number of departments and various bugets are prepared:

1. Raw material(surgey supplies) requirment budget:

2. Purchase budget based on above requirement

3.Service budget based on estimated Patient days

4.Master budget based on above 3 budgets ie estimated revenue budget for the year

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