Developing effective budget for smaller medical facility

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Reference no: EM133955543

BALANCING THE BUDGET

1. Because of crop failures in Asia, American farm equipment manufacturers are gearing up production to meet expected increased demand. The manufacturing facility in Houston, Texas is adding a second shift and hiring new workers. Houston Community Hospital operates on a calendar-year budget. By midyear, the hospital is seeing a substantial increase in patient visits, and the operating units in the hospital are experiencing needs for higher use of overtime and part-time employees, exceeding budgeted funds. You are the budget manager for Houston Community Hospital. What budget amendments would you recommend to both hospital management and the board of directors?

2. The largest employer in Dallas, Texas builds travel trailers and has been battered by the current recession, reducing employment to meet the loss in sales volume. A number of families have moved away to seek employment elsewhere. Nurses Hospital in Dallas, Texas has experienced reductions in patient visits, and the hospital's budget manager is projecting that the hospital will not meet revenue or cash budget. You are the administrator for Nurses Hospital. You meet with the budget manager to formulate a plan of action to take to the board of directors. What budget amendments will you consider to meet the loss in revenues?

BUDGETING FOR SMALLER MEDICAL FACILITIES

1. Explain the steps involved in developing an effective budget for a smaller medical facility.

2. What is the purpose of a monthly review of actual experience against the annual budget of the facility?

Reference no: EM133955543

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