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Due 2/28/17 at 5:00 p.m. 100 percent original with at least 2 references APA format. Please note there is 2 parts to this assignment. Part 1 is the budget. Need to be in excel format. The format is listed below. Part 2 is a PowerPoint that need to be at least 10 slides not including title and reference page with at least 150 words per slide for speaker notes. Please note it all should be 100 percent original work. ****You do not have to complete an actual PowerPoint. I will like for you to complete the PowerPoint in a word document. We must submit the PowerPoint in word document so that the professor can send it through the plagiarism report. I will complete the actually PowerPoint presentation based on the word document you send.*****

As a member of the finance team, you have been asked to forecast the upcoming year’s operational budget for Krona Community Hospital. Click here for last year’s budget. 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.

 

 

 

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

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