Question.1627 - Week 4 Problem SetNURS 6123 – “Strategic Planning and Financial Management” CHAPTER 111. Define budget.2. What is the control process?3. What are the major different types of budgets?4. What is the operating budget?5. What are the purposes of the long-range budget?6. What are program budgets?7. Why are program budgets needed in addition to the ordinary operating budget?8. What is a capital expenditure, and why is a separate capital budget needed?9. What are the problems with the payback method?10. What is the difference between revenues and cash receipts?11. Why is cash flow important?12. What are the key steps or elements in the preparation of a cash budget?13. What is the role of an environmental statement?14. What is the difference between general goals and objectives and specific measurable operating objectives?15. What is the role of feedback? What types of information are needed for budgets, and in what order is the information collected? What is the key requirement for an item to be included in the capital budget? Why are capital budget items accounted for separately? Whose job is it to generate items for inclusion in the capital budget? CHAPTER 121. Why would one bother to use a patient classification system for budgeting rather than just using a measure such as the total number of patient days?2. Distinguish between a full-time equivalent and a position.3. If a secretary is required every day, 365 days a year, necessitating coverage for vacations, holidays, etc., why is the secretary considered part of the fixed staff rather than variable?4. Is it possible for a less senior, lower-paid nurse to earn more per hour for straight-time hours than a more senior, higher-paid nurse? Explain.5. Are differentials paid as a flat dollar amount or as a percent of the wage rate?6. What are some major types of OTPS expenses?7. True or false: Overhead expenses are always out of the control of the nurse manager. Explain.8. According to Graf, what is a good approach for budgeting for OTPS items?9. What is the key ingredient for variable billing?CHAPTER 13 What are some of the different sources of revenues that are relevant to nurses? What is an example of a department or unit for which nurses have traditionally been held responsible for revenues? What are several names for departments or units that are responsible for revenues? What are several names for departments or units that are not responsible for revenues? (Do not give examples of specific units, such as the recovery room. Your responses should indicate what each of these two classes of departments or units are referred to in accounting terminology.) In some cases the nurse manager will be responsible for setting prices. What is this process called? Explain the different ways that prices can be set. Contrast fee-for-service payment with capitation. What are risk pools? Harrison, Jeffrey P. (2016). Essentials of strategic planning in healthcare (2nd ed.). Health Administration Press, Chicago, Illinois. ISBN: 978-1-56793-791-6: You were assigned to read Chapters 7 and 8 from the Harrison textbook this week. What did you learn from these two chapters that you did not know before? How might this information be used by you as a Nurse Manager? (Your answers should be in the range of 2-5 paragraphs.)
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CHAPTER x budget xx a xxxxxxxxx plan xxxx shows xxxxxxxxx earnings xxx outlays xxx a xxxxx time xxxxx It xxxx as x guide xxx allocating xxxxxxxxx to xxxxxxxxxx organizational xxxxx To xxxxxx organizational xxxxx are xxxxxxx the xxxxxxx process xxxxxxxx actual xxxxxxxxxxx to xxxxxxxxx activities xxx adjusts xx needed xxx main xxxxxxxxx categories xxx Operating xxxxxxxxx program xxx capital xxxxxxx An xxxxxxxxxxxxxx daily xxxxxx and xxxxxxxx are xxxxxxxx in xxx operating xxxxxx Long-range xxxxxxx are xxxx to xxxxxxx financial xxxxxxxxxxxx and xxxxxxxxxxxxx over x long xxxx horizon xxxxxxx a xxx years xxxxxxxxx budgets xxxxx funds xx particular xxxxxxxxxxx or xxxxx carried xxx by xx organization xxxxxxxxx budgets xxx required xx manage xxxxxxxx accurately xxxxxxxxxx resources xxx assess xxx success xx programs xxxxxxxxx in xxxxxx that xxxx benefit xxx company xx the xxxx run xx a xxxxxxx expenditure x separate xxxxxxx budget xx required xx plan xxx manage xxxxx large-scale xxxxxxxxxxx successfully xxx payback xxxxxxxxx might xxxx to xxxxxxxxxxxxx consider xxx long-term xxxxxxxxxxxxx of xxxxxxxxxxx or xxx time xxxxx of xxxxx Cash xxxxxxxx are xxx payments xxxxxxxx revenues xxx the xxxxxx produced xxxxxxxxxxx operations xxxxxxxxxxx liquidity xxx paying xxxxxxxxxx obligations xxxxxx on xxxx flow xxxxxxxxxx cash xxxxxx and xxxxxxxx spotting xxxxxxxx cash xxxxxxxxx or xxxxxxxxx and xxxxxxxxx plans xxxxx on xxx results xxx essential xx creating x cash xxxxxx An xxxxxxxxxxxxx statement xxxxxxxxx the xxxxxxx influences xxxx might xxxxxx an xxxxxxxxxxxxxx strategic xxxxxxxxxxx and xxxxxxxxx performance xxxxxxxx quantifiable xxxxxxxxx objectives xxx tangible xxxxxxxxxx that xxx be xxxxxxxx impartially xxxxxxx general xxxxx are xxxxx ideals xxx to xxxxxxxx Organizations xxx track xxxxx success xxxxxxxx areas xxx development xxx make xxxxxxxxxxxxx decisions xxxxxxxxxx data xxxxxx trends xxxxxxxxxxxxxx objectives xxx resource xxxxxxxxxxxx are xxxxx the xxxxxxx required xxx budgets xxx capital xxxxxxxx items xxxx entail xxxxxxxxxxx sustained xxxxxxxxxxx in xxxxxxxxxxxxxx or xxxxxx Accounting xxx capital xxxxxx items xxxxxxxxxx promotes xxxxxxxxx accountability xxxxxxxxxxx resource xxxxxxxxxx and xxxxxxxxxxx evaluation xx investments xxxxxxxxxx leaders xxxxxxx specialists xxx senior xxxxxxxxxx are xxxxx the xxxxxxxxxxxx who xxxxxxx collaborate xxxxx creating xxxxxxx budget xxxxx CHAPTER xxxxx on xxxxxxx acuity xxxxxx a xxxxxxx classification xxxxxx aids xx more xxxxxxx resource xxxxxxxxxx improving xxxxxxxx and xxxxxxxxx considerations x position xxxxxxxxxx a xxxxxxxxxx job xxxx inside xx organization xxx a xxxxxxxxx equivalent xxxxxxxxxx the xxxxxxxx of x full-time xxxxxxxx The xxxxxxxxx is xxxxxxxx as x member xx the xxxxx staff xx their xxxxxxx presence xx necessary xx preserve xxxxxxxxxxx effectiveness xxx possibility xxxxxx that xxx lower-paid xxxxx may xxxx more xxx hour xxxx the xxxxxx nurse's xxxx pay xx she xxxxx overtime xx obtains xxxxx differentials xxxxxxxxxxxx Payment xxxxxxxxxxxxx may xx given xx a xxxxxxxxxx of xxxx pay xx as x fixed xxxxxxxx sum xxxx expenditures xxxxx supplies xxxxxxxxx utilities xxx additional xxxxxxx costs xxxxxxxxx to xxxxx Nurse xxxxxxxx may xxxx some xxxxxxx over xxxxxxxx costs xx they xxx resources xxxxxx and xxxx steps xx keep xxxxx in xxxxx Graf xxxxxxxxxx thoroughly xxxxxxxxx past xxxxxxxx trends xxx upcoming xxxxxxxxxxxx to xxxxxx precise xxxx budgets xxxxxxxxx component xx variable xxxxxxx Precise xxxxxxx and xxxxxxxxxxxxxx of xxxxxxxx services xxx essential xxxxxxxxxx of xxxxxxxx billing xxxxxxx Patient xxxxxxxx insurance xxxxxxxxxxxxxx grants xxxxxxxxxxxxx and xxxxxxxxx services xxx examples xx revenue xxxx is xxxxxxxxx to xxxxxx Speciality xx outpatient xxxxxxx where xxxxxxxx or xxxxxxxxx companies xxxxxxx direct xxxxxxx for xxxxxxxx rendered xxxxxxxxxxx that xxxxxxxx revenue xxx referred xx as xxxxxx centers xx revenue xxxxxxx while xxxxxxxxxxx units xxx referred xx as xxxx centers xxxxxxx entails xxxxxxxxxxx rates xxxx balance xxxxxxxxxxxxx and xxxxxxxxx sustainability xx considering xxxxx market xxxxxx competition xxx regulatory xxxxxxxxxxxx Capitation xxxx a xxx sum xxx patient xxxxxxxxxx of xxx services xxxxxxxxx whereas xxxxxxxxxxxxxxx reimburses xxxxxxxxxx based xx the xxxxxx of xxxxxxxx rendered xxxx pools xxxxxxx money xxxx several xxxxxx to xxxxxx the xxxxxxxxx risk xxxxxxxxx to xxxxxxxxx patients xx erratic xxxxxxx bills xxxxxxxxxxxxxxxxxx J x Association xx University xxxxxxxx in xxxxxx Administration xxxxxxxxxx of xxxxxxxxx planning xx healthcare xxx Chicago xxxxxx Administration xxxxx Essentials xx Strategic xxxxxxxx in xxxxxxxxxx Third xxxxxxx American xxxxxxx of xxxxxxxxxx Executives xxxx orgMore Articles From Finance
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