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 f
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.
The budget from Unit 1 (now Unit 4 budget spreadsheet); 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 into the budget for additional staffing, services, maintenance, and so forth.
Complete the following 2 part assignment:
- Part I: Complete the Operational budget spreadsheet (see attachment Unit 4 HCM410_Budget)
- Disperse $3 million dollars amongst budget rows with no dollar amount in the 'Revised 2022' Column. – See the example below
- Part II: Prepare next year’s financial plan narrative 2-3 pgs.
- Explain why the specified dollar amount was allocated to the corresponding budget line. How that money will be spent and how it will benefit the new facility. – See the example below
Ex. (Part I) Original 2022 Inpatient Budget 27,500,000/ Revised 2022 Inpatient Budget 28,255,000.
Ex. (Part II) The reason/logic for the increase in the inpatient budget is due to orthopedic surgery department improvements.
The use of APA 7 style is expected. Students are required to reference at least 2 scholarly sources for this task.
2021
| KRONA HOSPITAL OPERATING BUDGET FOR 2022 | ||||||
| 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 | |||||
2022
| KRONA HOSPITAL OPERATING BUDGET | 2021 | 2022 | Revised 2022 | ||||||||
| Revenues | Disperse three million dollars amongst budget rows with no dollar amount in the 'Revised 2022' Column. In Part II of this assignment explain why specified dollar amount was allocated to the corresponding budget line. Ex. (Part I) Original 2022 Inpatient Budget 27,500,000/ Revised 2022 Inpatient Budget 28,255,000. (Part II) Reason/logic for increase is due to orthopedic surgery department improvements. | ||||||||||
| Inpatient | $ 25,000,000 | $27,500,000 | |||||||||
| Outpatient | 15,000,000 | $17,250,000 | |||||||||
| Emergency Room | 10,000,000 | 10,000,000 | |||||||||
| Laboratory | 5,000,000 | 5,000,000 | |||||||||
| Pharmacy | 1,500,000 | 1575000 | |||||||||
| Home Health and Hospice | 1,500,000 | 1725000 | |||||||||
| Ambulance Services | 950,000 | 950,000 | 950,000 | ||||||||
| Substance Abuse | 250,000 | 250,000 | 250,000 | ||||||||
| Other | 850,000 | 850,000 | 850,000 | ||||||||
| Subtotal | $ 60,050,000 | $65,100,000 | $2,050,000 | ||||||||
| Less Chartiy Care | 18,000,000 | 18,000,000 | 18,000,000 | ||||||||
| Net Revenues | $ 42,050,000 | $47,100,000 | -$15,950,000 | ||||||||
| Expenses | |||||||||||
| Payroll (including nursing salaries) | $ 12,500,000 | $13,750,000 | |||||||||
| Benefits | 3,000,000 | 3,000,000 | |||||||||
| Contract Labor | 100,000 | 100,000 | |||||||||
| Insurance | 300,000 | 300,000 | |||||||||
| General Services (laundary, security, etc) | 3,000,000 | 3,000,000 | |||||||||
| Depreciation | 1,500,000 | 1,500,000 | |||||||||
| Interest Expense | 300,000 | 300,000 | 300,000 | ||||||||
| Professional Services | 10,000,000 | 10,000,000 | |||||||||
| Total Operating Expenses | $ 30,700,000 | $31,950,000 | $300,000 | ||||||||
| Net Income | $ 11,350,000 | $15,150,000 | -$16,250,000 | ||||||||
Sheet3
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