Please answer the following question in 350 words count in your own word please add reference from internet source or google scholarly at the end of the question This assignment will require you to consider several influences to the budgeting process of a health care institution. Here, you will review payer mix and other influences to revenue as you consider revenue factors for the budget. Complete the following for this assignment:
• Evaluate how you would strategize to keep a balanced budget for all 12 months in a year using a flexible budget rather than a static budget, and provide rationale and justification.
Flexible budget is better than a static budget. This is because the organization has to use the available funds rather than the funds given by the government or even private sectors. It is important for the organizations to cut down the unnecessary costs and invest in long term investments. In a successful organization it has to use both long term and short term strategies to generate more revenues (Saïdi, 2011). By using the available resources within the organization the organization can be able to generate more revenues. When compared with static budget, there is now slow process in reimbursement of the funds hence increasing the efficiency of the organization. Also the organization has to invest more of its resources on the activities that bring more revenue. Another strategy to employ is for the organization to enter into group purchase with other organizations. This will help cut down the purchasing cost at a higher rate. The organization can also attract potential investors through the good image of the company. This can help generate more funds to the company. Another strategy is for the organization to come up with more profitable services. This can include production of quality products and services by doing so the organization will be able to attract more customers.
Reference:
Saïdi, A. (2011). Balanced-budget rule, distortionary taxes and aggregate stability.International Journal Of Economic Theory, 7(3), 293-300. http://dx.doi.org/10.1111/j.1742-7363.2011.00165.x
Please answer the following question in 350 words count in your own word please add reference...
Please answer the following question in 350 words count in your own word please add reference from internet source or google scholarly at the end of the question This assignment will require you to consider several influences to the budgeting process of a health care institution. Here, you will review payer mix and other influences to revenue as you consider revenue factors for the budget. Complete the following for this assignment: • Assess the differences in health care budgeting as...
Please answer the following question in 350 words count in your own word please add reference from internet source or google scholarly at the end of the question This assignment will require you to consider several influences to the budgeting process of a health care institution. Here, you will review payer mix and other influences to revenue as you consider revenue factors for the budget. Complete the following for this assignment: For a health care organization of your choice (real...
Please answer the following question in 350 words count in your own word please add reference from internet source or google scholarly at the end of the question This assignment will require you to consider several influences to the budgeting process of a health care institution. Here, you will review payer mix and other influences to revenue as you consider revenue factors for the budget. Complete the following for this assignment: • Take into consideration that reimbursement can be affected...
Please answer the following question in 350 words count in your own word please add reference from internet source or google scholarly at the end of the question This assignment will require you to consider several influences to the budgeting process of a health care institution. Here, you will review payer mix and other influences to revenue as you consider revenue factors for the budget. Complete the following for this assignment: • Take into consideration that while more patients may...
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