Question

Using your approved healthcare organization Medstar George University Hospital and the knowledge you have gained on capital budgets, identify what capital budget item or items will be used as the basis for the written capital budget proposal. Include how the proposal recommendations will reflect the big-picture view of healthcare

Answer 1

Healthcare spelling is top of Mind across the broad spectrum of stakeholders patients wants to know what are they paying for hospitals want to know they can stay afloat and mental patient satisfaction and lawmakers want to know how they can keep cost down and keep insurance companies happy we all of the options unconcerned come into play hospitals are left with a lot of difficulty in creating satisfactory budgets that meet everyone's need still planning with capital budget and in particular capital expenditure plans is a critical part of running Hospital effectively we shall discuss few ways to ensure that this capital budget is considered the strategic and big picture impacts of a spending plan. The capital budgeting is critical capital expenditure is planning how we spend the cost of important upgrades renovation Healthcare construction projects in other big tickets item when we can allocate these funds well we will not only be able to improve our facilities overall performance but we will have the necessary budget left over for an planned expenditure that will undoubtedly be come over the course of here and if we are not strategic with are planning we will run into shortages in that will become a problem there are few mistakes at capital expenditure Hospital makes that facility administrator make when deciding on capital expenditure it is easy to fall into trap of not using consistent criteria to evaluate all expenditure request when we view different investment against different criteria it is possible to get meaningful comparison to decide what to prioritise another common mistake that can be related to decision criteria is lack of meaningful documentation the biggest mistake in hospital capital expenditure planning is not planning at all when we make big investments only as need for the arises we can quickly end up using our entire why should before all the need are met. The Healthcare industry is the one the only industry Around The World that will meet into an foreseeable future the field has been continuously growing for centuries and shows no signs of slowing anytime technologically advanced are being made some entity that contributes to health care system from Medical devices to Pharmaceutical improvements in the Healthcare world can alter enhance and save the lives of individual around the globe as per our knowledge of these matters expanded the care in which patients receive expands to In The End improve patient outcomes is the goal of Any hospital clinic or practice regardless of difference is the health care providers may have when did the mining new ways to increase patient outcomes there a multitude of different components that play a major role in the care of patients receive with every level of Healthcare organisation from group of the choices and decisions that administrative positions and other personal make have a significant effect on the lives of their patients decision making is one important factor too long term success of Healthcare providers large and small but it is also IM only aspect the hospitals and clinics need to take into account Healthcare organisations who seek longivity as well as height and patient outcomes in present have to take financial planning into account Healthcare organisations who plays for what lies ahead are better prepared for chances and changes as they come financial security is made possible by those who plan their funds should be spent by looking for Areas where cost can be improved upon there is typically a great deal of money wasted by Healthcare providers do not continuously looking into areas of to increase efficiency while some funds maybe spend religiously all entities and spend that are must other times substitute devices contract analysis vendor leverage in negotiations and dozens of other Matrix need to be looked at carefully in These areas money is often either speed spent unnecessarily or there is lack of input for some factors that may be overlooked. There are approved methodologies in automated analytics into a hospital or clinics existing budget savings time and money a system identify a risk and opportunity based on different budgeting scenarios resulting in more precise action plans that are or will produce intended results service line volumes combined with statistics depict the changes that are likely to arise which changes in different quantities of volume it also give Healthcare providers peace of mind as a platform sense notification integrate security management and ensures multiple level of approval so that the hospital capital budget can be trusted there should be reports and productivity and profit produced by monthly reports holding those responsible accountable for budget directions managers can now better understand any differences in budget and actual output within Dept reporting on performance they should be displaying performance indicator in functional easy to interpret graph forms and a bhaiya comparison specific targets like over time can be tracked against at work so that the department can be made aware of any inefficiency that can be improved and also efficiencies that employees are putting patient volume can also be correlated to stuffing to determine whether or whether not over timer callback is necessity at a given point of time if there is any area that means developing it shall make a clear need allowing executives need us to bring facts about needing improvements without capital budgeting place Healthcare provider maybe spending funds wastefully not giving any thought to wear a money is best used there should be strata decision has produced a platform that takes the tough workout of financial planning and decision making for Healthcare organisation Where are customers integrate into their health care system the quality Inn performance and patient care increases dramatically humiliating in more desirable patient outcome. the capital budget items would be machineries Capitol building hospital equipments maintenance of doctors another capital expenditures. hospitals can plan wisely and strategic quickly analytically. .