Review the roles and processes of budgeting

Assignment Help Financial Accounting

Reference no: EM133933063 , Length: Word Count:2000

Health Finance, Economics and Accounting

Task Description

Financial budgeting and performance improvement are critical exercises in health management. The purpose of this assessment is to review the roles and processes of budgeting in enhancing performance of a health/social care organisation regarding patient care and financial sustainability.

You are to submit a report, examining hypothetical budgeting data of a health/social care organisation and recommending ways to improve both the patient care and financial sustainability. Get top-notch online assignment help.

Assume yourself to be working in a hypothetical health organisation that hosts hospitals and community care services in any State or Territory in Australia.

The assessment report must have the following sections:

1. Executive Summary:

Summarise the purpose, the organisational context, and the main points from section 3 of the report. (Approx. 250 words).

2. Introduction:

Explain the purpose and structure of the report. Provide an overview of organisational context, and objectives for patient care and financial sustainability. (Approx 350 words).

3. Critical review:

3.1 A critical review of the purposes of budgeting and process dimensions (for example, staff participation in budgeting, budget model, and budget forecasting) in meeting the hypothetical organisation's objectives in the current funding (for example, Activity Based Funding) environment.
(Approx. 750 words)

3.2 Critically examine data from the 2024/2025 financial year, the relevant budgeted/targeted figures and the ‘threshold of key performance indicators' (Students to have access to the specific data via MyLO) and determine the performance of your organisation (rating scale: not performing, under-performing, or performing) regarding the following:

a. Expenditure and owned source revenue,

b. Children fully immunised at one year of age,

c. Compensable Workplace Injury Claims (% of change over rolling 12 month period)

d. Hospital acquired pressure injuries, and

e. Mental Health Acute Readmission within 28 days (%)

f. Mental health consumer experience.

(Approx. 150 words)

3.3 On the basis of performance rating in section 3.2, explain implications for patient care and financial sustainability management) in the hypothetical organisation. (Approx. 780 words: 130 words for each of the indicators of "a to f").

4. Conclusion:

Succinctly restate insights that addresses the purpose of the report and a key learning for the organisation (Approx. 150 words).

5. Recommendations:

Recommend THREE management interventions:

5.1: ONE to address the analysis for indicator "Expenditure and owned source revenue" to improve organisational performance for patient care as well as financial sustainability. (Approx. 250 words)

5.2 TWO to address the analyses for any 2 indicators of "b to f" ( in section 3.2) and to improve organisational performance on both the patient care and financial sustainability. (Approx. 470 words)

Reference no: EM133933063

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