Financial Management of Healthcare Organizations – Week 05 Course Project – Budget Preparation
In the ever-evolving landscape of education, students face increasing challenges to meet the demands of their academic pursuits. Striking a balance between extracurricular activities, personal commitments, and a rigorous academic curriculum can be overwhelming. Amidst this struggle, online homework help services have emerged as invaluable resources for students seeking academic excellence. Among these, HomeworkProWriters.com shines as a beacon of light, standing tall as the best website for homework help.
This week you are preparing the budget for the HIM department. Your department currently employs four full-time and one outsourced staff members, which includes a coder, file clerk, receptionist, data quality manager, outsourced release of information specialist (ROI) and director.
The department processes about 600 discharges per month, each discharge takes about 15 minutes to code. The department’s ROI request rate was as follows for this past year: 750 charts in first quarter, 900 in the second quarter, 575 in the third quarter, and 1000 in the fourth quarter.
Expenditures
- This past fiscal year each employee had the following salary. Each full-time employee will receive a 3% cost of living raise next year.
- Coder: $36,400/annually
- File clerk: $10/hr (Full-time employee who works 2080 hrs/annually)
- Data quality manager: $52,000/annually
- ROI specialist: $3.50/chart processed
- Director: $68,000/annually
- The hospital plans on opening a new OB/GYN unit at the beginning of next year. This new unit is expected to increase the discharge rate by 20%, which require the HIM department to hire a part-time coder. The hospital starts all of its coders at $15/hr.
- The hospital also purchased a new electronic medical record (EMR) system and is preparing to scan all the manual records into the system. This will require the HIM department to hire two scanners at a rate of $7.20/hr. Each scanner will work a full-time 40 hour week. One scanner will be needed for half the year and the other scanner will continue to work for the entire year.
- Remember to include the data that you analyzed last week. Use the actual expenditure amounts as a basis for your budget with the exception of membership dues. Membership dues will increase by $25 per employee. Assume that only the coder, manager, and director are active in a professional organization.
Prepare a budget for the upcoming fiscal year using the information given above.
At the core of HomeworkProWriters.com lies a team of exceptional and proficient writers. Each member of this distinguished cadre possesses advanced degrees in their respective fields, empowering them with the knowledge and expertise to tackle assignments from various academic disciplines. From complex mathematical problems to intricate literary analyses, their writers exhibit a remarkable ability to deliver impeccable content that adheres to the highest academic standards. One hallmark of the best homework help website is its comprehensive subject coverage. HomeworkProWriters.com leaves no academic stone unturned, catering to students across diverse subjects and levels of study. Whether it be fundamental sciences, nursing, humanities, social sciences, or technical disciplines, this platform ensures that no student is left without the support they need to excel.
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
