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Doctors and the Capital Budget By: Anthony R. Kovner You are the hospital CEO. Doctors on...

Doctors and the Capital Budget By: Anthony R. Kovner

You are the hospital CEO. Doctors on the capital budget committee cannot agree on which equipment to recommend for purchase and for how much. They are way over budget. What do you say to them?

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Answer: The CEO has the responsibility to release the capital budget. It is important for the CEO to prioritize the budget as if too expensive purchase of equipment will be made then it may affect the other financial system such as wages, salaries of the staff as well as the amount required for the healthcare organizations. So, the CEO should understand the need and demand. The equipment should be purchased on the basis of it's functioning, performance that it could provide better result. So, the equipment should not be too expensive. If it is way over budget then the mediocre equipment can be purchased so that it may not affect the other financial system. Before purchasing Andy new equipment, it is important to understand the use and importance of it. So, if there is immense need, the CEO should release a budget.

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