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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nbsp xxxxxxx A xxxxxx is x financial xxxx that xxxxx projected xxxxxxxx and xxxxxxx for x given xxxx frame xx acts xx a xxxxx for xxxxxxxxxx resources xx accomplish xxxxxxxxxxxxxx goals xx ensure xxxxxxxxxxxxxx goals xxx reached xxx control xxxxxxx compares xxxxxx performance xx scheduled xxxxxxxxxx and xxxxxxx as xxxxxx The xxxx budgeting xxxxxxxxxx are xxxxxxxxx long-term xxxxxxx and xxxxxxx budgets xx organization's xxxxx income xxx expenses xxx detailed xx its xxxxxxxxx budget xxxxxxxxxx budgets xxx used xx project xxxxxxxxx requirements xxx opportunities xxxx a xxxx time xxxxxxx usually x few xxxxx Programme xxxxxxx allot xxxxx to xxxxxxxxxx initiatives xx tasks xxxxxxx out xx an xxxxxxxxxxxx Programme xxxxxxx are xxxxxxxx to xxxxxx expenses xxxxxxxxxx distribute xxxxxxxxx and xxxxxx the xxxxxxx of xxxxxxxx Investing xx assets xxxx will xxxxxxx the xxxxxxx in xxx long xxx is x capital xxxxxxxxxxx A xxxxxxxx capital xxxxxx is xxxxxxxx to xxxx and xxxxxx these xxxxxxxxxxx investments xxxxxxxxxxxx The xxxxxxx technique xxxxx need xx appropriately xxxxxxxx the xxxxxxxxx profitability xx investments xx the xxxx worth xx money xxxx receipts xxx the xxxxxxxx received xxxxxxxx are xxx income xxxxxxxx Maintaining xxxxxxxxxx controlling xxxxxxxxx and xxxxxx short-term xxxxxxxxxxx depend xx cash xxxx Estimating xxxx inputs xxx outflows xxxxxxxx possible xxxx surpluses xx shortages xxx modifying xxxxx based xx the xxxxxxx are xxxxxxxxx in xxxxxxxx a xxxx budget xx environmental xxxxxxxxx evaluates xxx outside xxxxxxxxxx that xxxxx affect xx organization's xxxxxxxxx orientation xxx financial xxxxxxxxxxx Specific xxxxxxxxxxxx operating xxxxxxxxxx are xxxxxxxx benchmarks xxxx can xx assessed xxxxxxxxxxx whereas xxxxxxx goals xxx broad xxxxxx Due xx feedback xxxxxxxxxxxxx can xxxxx their xxxxxxx pinpoint xxxxx for xxxxxxxxxxx and xxxx well-informed xxxxxxxxx Historical xxxx market xxxxxx organizational xxxxxxxxxx and xxxxxxxx availability xxx among xxx details xxxxxxxx for xxxxxxx The xxxxxxx budget's xxxxx must xxxxxx significant xxxxxxxxx investments xx infrastructure xx assets xxxxxxxxxx for xxxxxxx budget xxxxx separately xxxxxxxx financial xxxxxxxxxxxxxx appropriate xxxxxxxx allocation xxx performance xxxxxxxxxx of xxxxxxxxxxx Department xxxxxxx finance xxxxxxxxxxx and xxxxxx management xxx among xxx stakeholders xxx usually xxxxxxxxxxx while xxxxxxxx capital xxxxxx items xxxxxxx Based xx patient xxxxxx levels x patient xxxxxxxxxxxxxx system xxxx in xxxx precise xxxxxxxx allocation xxxxxxxxx staffing xxx budgetary xxxxxxxxxxxxxx A xxxxxxxx designates x particular xxx role xxxxxx an xxxxxxxxxxxx but x full-time xxxxxxxxxx represents xxx workload xx a xxxxxxxxx employee xxx secretary xx regarded xx a xxxxxx of xxx fixed xxxxx as xxxxx regular xxxxxxxx is xxxxxxxxx to xxxxxxxx operational xxxxxxxxxxxxx The xxxxxxxxxxx exists xxxx the xxxxxxxxxx nurse xxx earn xxxx per xxxx than xxx senior xxxxxxx base xxx if xxx works xxxxxxxx or xxxxxxx shift xxxxxxxxxxxxx Differential xxxxxxx Differentials xxx be xxxxx as x percentage xx base xxx or xx a xxxxx monetary xxx OTPS xxxxxxxxxxxx cover xxxxxxxx machinery xxxxxxxxx and xxxxxxxxxx running xxxxx unrelated xx staff xxxxx managers xxx have xxxx control xxxx overhead xxxxx if xxxx use xxxxxxxxx wisely xxx take xxxxx to xxxx costs xx check xxxx recommends xxxxxxxxxx examining xxxx spending xxxxxx and xxxxxxxx requirements xx create xxxxxxx OTPS xxxxxxx Essential xxxxxxxxx of xxxxxxxx billing xxxxxxx records xxx categorization xx provided xxxxxxxx are xxxxxxxxx components xx variable xxxxxxx CHAPTER xxxxxxx payments xxxxxxxxx reimbursements xxxxxx contributions xxx auxiliary xxxxxxxx are xxxxxxxx of xxxxxxx that xx pertinent xx nurses xxxxxxxxxx or xxxxxxxxxx clinics xxxxx patients xx insurance xxxxxxxxx receive xxxxxx billing xxx services xxxxxxxx Departments xxxx generate xxxxxxx are xxxxxxxx to xx profit xxxxxxx or xxxxxxx centers xxxxx non-revenue xxxxx are xxxxxxxx to xx cost xxxxxxx Pricing xxxxxxx determining xxxxx that xxxxxxx affordability xxx financial xxxxxxxxxxxxxx by xxxxxxxxxxx costs xxxxxx demand xxxxxxxxxxx and xxxxxxxxxx requirements xxxxxxxxxx pays x set xxx per xxxxxxx regardless xx the xxxxxxxx delivered xxxxxxx fee-for-service xxxxxxxxxx clinicians xxxxx on xxx number xx services xxxxxxxx Risk xxxxx combine xxxxx from xxxxxxx payers xx reduce xxx financial xxxx connected xx expensive xxxxxxxx or xxxxxxx medical xxxxx nbsp xxxx nbsp xxxx ReferencesHarrison x P xxx Association xx University xxxxxxxx in xxxxxx Administration xxxx Essentials xx strategic xxxxxxxx in xxxxxxxxxx nbsp 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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