HCM410DB4

400-600 words APA 6 format, in-text citation, Use at least two (2) scholarly references to substantiate your work. Please provide a copy of all references used.

Assignment Details:

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

KRONA HOSPITAL OPERATING BUDGET FOR 20XX
Revenues
Inpatient $25,000,000
Outpatient 15,000,000
Emergency Room 10,000,000
Laboratory 5,000,000
Pharmacy 1,500,000
Home Health and Hospice 1,500,000
Ambulance Services 950,000
Substance Abuse 250,000
Other 850,000
Subtotal $60,050,000
Less Chartiy Care 18,000,000
Net Revenues $42,050,000
Expenses
Payroll (including nursing salaries) $12,500,000
Benefits 3,000,000
Contract Labor 100,000
Insurance 300,000
General Services (laundary, security, etc) 3,000,000
Depreciation 1,500,000
Interest Expense 300,000
Professional Services 10,000,000
Total Operating Expenses $30,700,000

Net Income $11,350,000