Final Healthcare Budget Request
Once an idea has matured to the point that there is a clear understanding about the organizational and financial impact, there is typically a need to request resources to bring the idea to reality. This is typically done by submitting a budget request in the hopes of getting the idea on the budget, meaning there is organizational commitment to move forward with the idea by planning to allocate necessary resources. This commitment implies that the expenditure aligns with organizational objectives and the financial position of the organization.
In this Assignment, you will analyze financial statements to determine the financial health of an organization. You will use this assessment as part of a final healthcare budget request.
Resources
Be sure to review the Learning Resources before completing this activity.
Click the weekly resources link to access the resources.
WEEKLY RESOURCES
Learning Resources
Required Resources
Readings
Dawes, D. E. (2020). The political determinants of health . Johns Hopkins University Press.
Chapter 4, “How the Game is Played: Successful Employment of the Political Determinants of Health” (pp. 78–111)
Porche, D. J. (2023). Health policy: Applications for nurses and other healthcare professionals (3rd ed.). Jones & Bartlett Learning.
Chapter 13, “Board Governance and Policy Leadership” (pp. 185–192)
Chapter 14, “Institutional and Organizational/ Association Policy” (pp. 193–199)
Chapter 17, “Policy Institutes” (pp. 255–264)
American Association of Nurse Anesthesiology. (2022). Advocacy and policyLinks to an external site.. https://www.aana.com/advocacy
American Association of Nurse Practitioners. (2022). AANP advocacy: Championing the NP role and amplifying the NP voiceLinks to an external site.. https://www.aanp.org/advocacy
American Nurses Association. (2018). ANA advocacy toolkitLinks to an external site.. https://rnaction.org/SitePages/toolkit.aspx
American Nurses Association. (n.d.). Nurses serving in congressLinks to an external site.. https://www.nursingworld.org/practice-policy/advocacy/federal/nurses-serving-in-congress
Centers for Disease Control and Prevention, Office of Policy, Performance, and Evaluation. (2021). Resources for writing briefsLinks to an external site.. https://www.cdc.gov/policy/polaris/training/writing-briefs/index.html
IDRC. (n.d.). How to write a policy briefLinks to an external site.. https://idrc-crdi.ca/en/funding/resources-idrc-grantees/how-write-policy-brief
International Council of Nurses. (n.d.). https://www.icn.ch/Links to an external site.
International Council of Nurses. (2022). Nursing policyLinks to an external site.. https://www.icn.ch/nursing-policy
National League for Nursing. (2022). Public policyLinks to an external site.. https://www.nln.org/public-policy
National League for Nursing. (2022). Toolkit homeLinks to an external site.. https://www.nln.org/education/teaching-resources/professional-development-programsteaching-resources/toolkits
Open Secrets. (2021). Health professionalsLinks to an external site.: Summary. https://www.opensecrets.org/industries/indus.php?ind=H01
Pitsker, K. (2019, November 26). How to run for local office. Kiplinger Links to an external site.. https://www.kiplinger.com/article/business/t043-c000-s002-how-to-run-for-local-office.html
She Should RunLinks to an external site.. (2020). https://sheshouldrun.org/Links to an external site.
Note: Explore this site on the topic of “Running for Elected Office.” You will need to join (free) to access the self-quizzes and materials.
United Nations. (n.d.). Sustainable development goals: 17 goals to transform our worldLinks to an external site.. https://www.un.org/sustainabledevelopment
Weakley, S., & Tarrega, M. (n.d.). How to write a policy briefLinks to an external site.. https://policyscotland.gla.ac.uk/wp-content/uploads/2021/04/TSRFWritingaPolicyBrief.pdf
Document: Global Issues Impacting Nursing Download Global Issues Impacting Nursing(PDF)
Media
American Nurses Association. (2021, May 11). RNAction: When nurses speak, Washington listensLinks to an external site. [Video]. https://www.youtube.com/watch?v=IJD60OucJn0
Note: The approximate length of this media piece is 1 minute.
Parks, M., & Weiner, C. (2019, October 19). How to run for office Links to an external site. [Multimedia]. NPR. https://www.npr.org/2019/10/15/770332855/how-to-run-for-office
To Prepare
Reflect on the previous Healthcare Budget Request assignment submissions, including your executive summary, your Expense/Revenue/ROI Analysis, your estimated budget, and your ratio analysis.
Review the Excel Assignment Workbook, W10/11A6 HealthWays Financials tab. These are sample financial statements.
Reflect on the information conveyed by these statements.
If possible, secure copies of your healthcare organization’s income statement, balance sheet, and statement of cash flows. Consult with your internal financial counselor on this, as needed.
The Assignment
Finalize your Healthcare Budget Request by completing the following:
Part 1: Financial Statement Calculations and Analysis:
Open your Excel Assignment Workbook and navigate to the “W10/11A6 Financials” worksheet.
You have 2 Options for completing this Assignment as noted in the Excel Assignment Workbook.
Using the Healthcare Budget Request Guide for guidance, conduct analyses as directed on either your organization’s financial statements or those provided in the HealthWays Financial Statements worksheet. Your analysis will include spreadsheet calculation of financial statement ratios.
Part 2: Summary of Analyses and Interpretation of Results:
Create a brief (1- to 2-page) description of your analyses. Be sure to address the following in your summary:
Describe the results of each statement analysis. What do the results of each analysis mean?
What does your complete financial statement analysis suggest about the financial health of the organization?
If using your current organization’s data, does your analysis help describe any observed organizational behaviors or actions? Explain.
What assumptions have you made in your analyses?
What implications do these analyses have for your proposed healthcare product or service?
Part 3: Summary of Work and Final Healthcare Budget Request
Compile and summarize your work in previous assignments. Place your final work on the Healthcare Budget Request template. Your final Healthcare Budget Request should include:
A final version of your Executive Summary
A final version of your projected expenses and revenues
A product/service budget for the launch and the first 5 years
A summary of financial and SWOT analyses that you conducted, including your interpretation of the results
A 3- to 5-slide PowerPoint presentation containing the final version of your elevator speech, incorporating selling points from your analyses that you believe make the business case for nurse entrepreneurship and leadership’s commitment to your proposed healthcare product or service.
By Day 2 of Week 11
Submit your Assignment.
*NOTE: You will need to submit three documents: a Word Document,an Excel Spreadsheet, and your PowerPoint for your Assignment submission. Please be sure to only submit your Assignment once you have uploaded these three components of your W11A6 Assignment.
submission information
Before submitting your final assignment, you can check your draft for authenticity. To check your draft, access the Turnitin Drafts from the Start Here area.
To submit your completed assignment, save your Assignment as WK10-11Assgn_LastName_Firstinitial
Then, click on Start Assignment near the top of the page.
Next, click on Upload File and select Submit Assignment for review.
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