Using the budget information from Unit 1 and the financial plan and operational budget from the Unit 4 Intellipath Assignment, discuss the need for the following:
- Increase in revenue reimbursement through inpatient length of stay and outpatient vendor relationships
- Allocation for the proposed improvements and required partnerships
- Partnering with local skilled nursing facilities and home health organizations
- Increase in salaries
Be sure to discuss the following areas:
- Funding sources
- Your methodology in revenue forecasting
- How the new services will impact revenue?
- Fixed and variable costs
- Project inpatient and outpatient visits based on current trends
Budget attached; information from Intelepath 4: Prepare next year’s financial plan and operational budget.
- Note: Keep in mind that the budget you created for Unit 1 did not take into account the growth of the new facility. The CEO has asked that you expand that budget and provide a finalized budget that will take into account the new services offered. The CEO has stated that there is $3 million that you can incorporate in to the budget for additional staffing, services, maintenance, and so forth.