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Mission, assumptions and objectives for the upcoming budget year for the departments involved. (Nursing, Laboratory, Pharmacy & Radiology)

Question Description

INSTRUCTIONS:

1 Describe the mission, assumptions and objectives for the upcoming budget year for the departments involved. (Nursing, Laboratory, Pharmacy & Radiology)

2 Establish statistics volume projections for the budget year 2015 for all four (4) departments.

3 Establish a position control plan for the new Psychiatric Unit. (Part of Nursing)

4 Establish a position control plan for nursing and laboratory.

5 Complete expense item for laboratory & radiology for 2015.

6 Project the expected net revenue for all Medicare, HMO, and all Other Insurance patients.

 The percentage breakdown of patients by payor mix is as follows:

Medicare  51%

  Blue Cross  16%

  Medical Asst  08%

  HMO  10%

  Commercial INS  07%

  Other  05%

  Self Pay  03%

  Total    100%

In the new fiscal year, the hospital plans to:

1  Establish a separate distinct 15-bed inpatient psychiatric unit.

2  Install new equipment in the laboratory to enable the hospital to do 35% more tests in-house rather than send them to a reference lab.

3  Recruit a general surgeon and a Internist.

4  Purchase an additional CT scanner which is expected to increase current radiology volumes by 3.25%.

THREE DEPARTMENTS ARE INVOLVED IN OUR BUDGET EXERCISE.  THEY ARE NURSING, LABORATORY, PHARMACY AND OUTPATIENT/AMBULATORY SERVICES.

 STATISTICAL DATA

      2012 – 2013        2013-  2014        2014- 2015

Admissions In Pt (Nursing)                      7,395                7,400                7,370

Laboratory Test                                      399,330              411,810            421,564

Pharmacy Rx                                         99,832                100,011            99,642

Radiology Exams                                   68,222                69,124               68,950

LABORATORY  EXPENSES

                                                           2012                   2013               2014

 Supplies                                           $79,866               $86,480           $96,959

 RADIOLOGY EXPENSES

 Supplies                                          $395,205              $405,222         $410,100

PARIENT REVENUE

Gross Revenue Projected for the 2014-2015 budget year is as follows:

  In Patient            $30,675,000

  Out Patient         $36,878,000

 Total                  $67,553,000

 Current Reimbursement Formulas:

                                           In Patient                          Out Patient

 Medicare                              $5760/case                    38% of Charge

 HMO                                    $1215.00/pat day           31% of Charge

 Other Insurance                     $7655.00/discharge     42.5% of Charge


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