NURS FPX 6216 Budget Negotiations and Communication

Preparation and Management as part of the Operating Budgeting

For a 35-bed healthcare facility that had 20 full-time equivalents working on it, a budget known as the operating budget was carefully prepared to position it to meet various goals, plan and manage the general healthcare activities and financial allocations as well as to carry out the quality initiatives. Effective negotiation and open communication are important for the organization’s position, and to manage the budget for success (Penner, 2017). The present article has been written with the main purpose of developing a plan on how to reach profitability, strengthen staff productivity indicators, explain the expenditures budget, and align it with the organization’s mission and goals. NURS FPX 6216 Budget Negotiations and Communication

NURS FPX 6216 Budget Negotiations and Communication

To ensure profitability and fiscal success, several strategies are proposed. Firstly, adopting a strategic approach to budget planning identifies areas for improvement and minimizes the risk of budgetary shortcomings. For example, investing $200,000 in infection prevention requires strategic planning to avoid operational gaps and optimize outcomes (BS, 2021). Secondly, implementing a robust budget tracking process promotes interprofessional collaboration and ensures efficient resource utilization. Tracking resource usage helps prevent unnecessary expenditures and ensures financial success (Hill, 2018). Additionally, dynamic budgeting, tailored to evolving patient needs and staffing requirements, enhances resource allocation effectiveness (Amirkhani et al., 2019). Lastly, implementing diverse pricing models across different units and departments optimizes revenue generation and cost management (Garrison & Towse, 2017).

Strategic plan to ensure profitability and fiscal success

This involves revenues and expense computations, granting funds to improve the services, purchase equipment, and cover service fees, and the building’s infrastructure. Last fiscal year, it is projected that the revenue reaches $2,209,100000 thousand, with expenses expected to be at $1,126,700 thousand, resulting in a budget of $432,400 for 2021(BS, 2021). These additional expenses do not stay the same, and consequently, it is fundamental to make strict budgetary policies and measures that can assist in reaching the financial objectives (Voda et al., 2018).

 

NURS FPX 6216 Budget Negotiations and Communication

In order to be profitable and sustainable the organization needed to adopt the following strategies. Busing the budget planning strategically means figuring out the areas that can be improved and avoiding budgetary difficulties. For example, allocating $200,000 for infection prevention is not likely to achieve the results expected if not treated as a strategic plan sensitive to potential operational gaps and time/space optimization (BS, 2021). Another thing to note is that, through a well-structured budget tracking process, there is a possibility to not only promote inter-professional collaboration but also to make the best use of resources. The tracking of the resource provision cuts unspending to record financial productivity (Hill, 2018). Moreover, the dynamic account budgeting which is flexible to deal with evolving patients’ needs and crew members demands improves the resources allocation effectiveness (Amirkhani et al. , 2019). In addition, the management can achieve the proper balance between revenue generation and cost management by applying different pricing models for different units and departments (Garrison & Hand Towse, 2017).Plan to meet staff productivity goals

Plan to meet staff productivity goals

Balancing of Actuals with Budgets: Preparation and Management as part of the Operating Budgeting
For a 35-bed healthcare facility that had 20 full-time equivalents working on it, a budget known as the operating budget was carefully prepared to position it to meet various goals, plan and manage the general healthcare activities and financial allocations as well as to carry out the quality initiatives. Effective negotiation and open communication are important in the organization’s position; and in managing budget for success (Penner, 2017). The present article has been written with the main purpose of developing a plan for how to reach profitability, strengthen staff productivity indicators, explain the expenditures budget, and align it with the organization’s mission and goals.

This involves revenues and expense computations, granting funds to improve the services, purchase equipment, and cover service fees, and the building’s infrastructure. Last fiscal year, it is projected that the revenue reaches $2,209,100000 thousand, with expenses expected to be at $1,126,700 thousand, resulting in a budget of $432,400 for 2021(BS, 2021). These additional expenses do not stay the same, and consequently, it is fundamental to make strict budgetary policies and measures that can assist in reaching the financial objectives (Voda el al., 2018).
Conclusion NURS FPX 6216 Budget Negotiations and Communication

Conclusion NURS FPX 6216 Budget Negotiations and Communication

In conclusion, To be profitable and sustainable the organization needed to adopt the following strategies. Busing the budget planning strategically means figuring out the areas that can be improved and avoiding budgetary difficulties. For example, allocating $200,000 for infection prevention is not likely to achieve the results expected if not treated as a strategic plan sensitive to potential operational gaps and time/space optimization (BS, 2021). Another thing to note is that, through a well-structured budget tracking process, there is a possibility to not only promote inter-professional collaboration but also to make the best use of resources. The tracking of the resource provision cuts unspending to record financial productivity (Hill, 2018). Moreover, dynamic account budgeting which is flexible to deal with evolving patients’ needs and crew members demands improves resource allocation effectiveness (Amirkhani et al. , 2019). In addition, the management can achieve the proper balance between revenue generation and cost management by applying different pricing models for different units and departments (Garrison & Hand Towse, 2017).

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