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    Budgeting: Prepared By: Keizha V. Ronatay

    Uploaded by

    Jericho James Topacio
    The document defines budgeting as a systematic plan by nurse administrators to estimate revenues and expenses. It aims to plan objectives and programs for nursing services, motivate workers, and evaluate performance. The types of budgets discussed include capital, structural, operational, personnel, fixed-ceiling, open-ended, flexible, sunset, zero-based, and contingency budgets. The budgeting process involves preparation, determining scope of service and goals, development by estimating revenues from services and determining expenses like direct, indirect, fixed, and variable costs including labor. Budgets are submitted for approval and monitoring.

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    Budgeting: Prepared By: Keizha V. Ronatay

    Uploaded by

    Jericho James Topacio
    52 views19 pages
    The document defines budgeting as a systematic plan by nurse administrators to estimate revenues and expenses. It aims to plan objectives and programs for nursing services, motivate workers, and evaluate performance. The types of budgets discussed include capital, structural, operational, personnel, fixed-ceiling, open-ended, flexible, sunset, zero-based, and contingency budgets. The budgeting process involves preparation, determining scope of service and goals, development by estimating revenues from services and determining expenses like direct, indirect, fixed, and variable costs including labor. Budgets are submitted for approval and monitoring.

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    Budgeting

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    The document defines budgeting as a systematic plan by nurse administrators to estimate revenues and expenses. It aims to plan objectives and programs for nursing services, motivate workers, and evaluate performance. The types of budgets discussed include capital, structural, operational, personnel, fixed-ceiling, open-ended, flexible, sunset, zero-based, and contingency budgets. The budgeting process involves preparation, determining scope of service and goals, development by estimating revenues from services and determining expenses like direct, indirect, fixed, and variable costs including labor. Budgets are submitted for approval and monitoring.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    52 views19 pages

    Budgeting: Prepared By: Keizha V. Ronatay

    Uploaded by

    Jericho James Topacio
    The document defines budgeting as a systematic plan by nurse administrators to estimate revenues and expenses. It aims to plan objectives and programs for nursing services, motivate workers, and evaluate performance. The types of budgets discussed include capital, structural, operational, personnel, fixed-ceiling, open-ended, flexible, sunset, zero-based, and contingency budgets. The budgeting process involves preparation, determining scope of service and goals, development by estimating revenues from services and determining expenses like direct, indirect, fixed, and variable costs including labor. Budgets are submitted for approval and monitoring.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 19

    Budgeting

    Prepared by:
    Keizha V. Ronatay
    Definition
    Systematic plan that is an informed best estimate by
    nurse administrators of revenues and nurse expenses.
    Purpose
    To plan the objectives, programs, activities of nursing
    services, and the fiscal resources needed to accomplish
    them.
    To motivate nursing workers through analysis of
    actual experiences.
    To serve as a standard to evaluate the performance of
    nurse administrators and managers and increase
    awareness of cost.
    Types of Budget
    Capital Budget
    Accounts for the purchase of major new or replacement
    equipment.
    Structural Budget
    Developed when renovation or new structures are
    planned.
    Includes labor, materials, building permit, inspection,
    equipment, and so on.
    Operational Budget
    Accounts for the income and expenses associated with
    day-to-day activity within a department or organization.
    Other Types of Budget
    Personnel Budget
    Cost of direct labor
    Includes recruitment, hiring, assigning, lay off, etc.
    Fixed-ceiling Budget
    Uppermost spending limit is fixed
    Open-ended Budget
    Single cost estimate
    Flexible Budget
    Budget that can be adjusted or manipulated
    Sunset Budget
    Self-destruct budget
    Zero-based Budget
    Expenses should be justified
    Contingency Budget
    Budget used in case of emergency
    Budgeting Process
    1. Budget Preparation
    Demographic Information and Marketing
    It identifies unique market characteristics such as age,
    sex, income, and so on, that influence patient behavior.
    It relates to determining what type of patients are
    consumers that institution targets.
    Marketing is the process of creating a product or health
    care service for patients.
    Competitive Analysis
    It probes into how the competition is performing as
    compared to other health care organizations.
    It examines other hospitals or practices strengths and
    weaknesses.
    Regulatory Influences
    Regulatory requirements and reimbursement rates have
    an effect on financial performance.
    Strategic Plans
    Guides the staff at all levels so that the entire
    organization can have a shared mission and vision with
    clearly defined steps to meet the goals.
    2. Scope of Service And Goals
    It provides information related to the types of service
    and the sites at which services are offered, including
    the usual treatments and procedures, hours of
    operation, and the types of patient/consumer groups.
    3. Budget Development
    Revenue
    Is income generated through a variety of means,
    including billable patient services, investments, and
    donations to the organization.
    Expenses
    Are determined by identifying the costs associated with
    the delivery of service.
    Expenses
    Direct Expenses
    Expenses directly associated with the patient
    E.g. medical and surgical supplies, drugs
    Indirect Expenses
    Expenses for items such as utilities that are not directly
    related to patient care.
    E.g. gas, electric, and phones
    Fixed Cost
    Expenses that are constant and are not related to
    productivity or volume.
    E.g. building and equipment depreciation, utilities,
    fringe benefits, and administrative salaries
    Variable Cost
    Fluctuates depending upon the volume or census and
    types of care required.
    E.g. supplies, drugs, laundry, and food costs.
    Labor
    Is another significant expense associated with medical
    and nursing care
    Salaries and benefits account for 50% to 60% of
    operational costs.
    Analysis/calculation of labor time includes
    professional, technical, and support staff.
    Staffing
    The amount of staff and types of staff are often
    accounted for in a staffing model.
    Unproductive Time
    Is calculated into a budget because there has to be staff
    coverage when nurses or other staff members are not
    working.
    E.g. sick-, vacation-, personal-, holiday-, and education
    time.
    4. Budget Approval and Monitoring
    Budgets are submitted to administration for review
    and final approval.
    Senior management, representing finance and
    operations, often makes the final decision regarding
    acceptance of budget.
    The end!

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