Presentation
nurs fpx 6216 assessment 2: Preparing and Managing an Operating Budget
- Course
- Nursing
- Institution
- 123 University
Prepare an 8-10 page operating budget for a hospital unit
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Instructor
June, 2024
, Operating Budget
In the context of managing a 35-bed hospital unit with 20 full-time staff, the major sections of an
operating budget would include:
1. Revenue
• Patient Services Revenue: Revenues realized from the provision of services to patients
within the facility or hospital, possibly in the form of room and procedure fees.
• Insurance Reimbursements: Insurance money that is paid to cover the services that were
rendered.
• Government Funding: Tax credit for donations to charities or items or services from
federal, state, or local government programs grantees.
2. Expenses
• Personnel Costs
o Salaries and Wages: Wages includes the basic wages and allowances paid to the
employees that work in full capacity as well as the employees who work in a half- capacity and
the other emoluments such as the overtime allowance.
o Employee Benefits: Medical and life insurance, savings for pension and other social
amenities.
o Staff Training and Development: Expenses incurred to pursue licensure or certification,
professional awareness, and continuing learning.
• Medical Supplies
o Consumables: Syringes, gloves, and bandages are examples of items categorized within
this category since they can be used and thereafter discarded.
, o Medications: Medicines and other products prescribed by a doctor for treating certain
illnesses and health conditions.
o Specialized Equipment: Any acquisition of medical devices and instruments through
purchase, lease-purchase, or lease.
• Operational Costs
o Utilities: Some of the fixed overheads include Costs of power and light electricity, water,
heating, and air conditioning expenses.
o Maintenance and Repairs: Maintaining physical infrastructures and equipment so that
machines, furniture among others can effectively be used by clients or staffs as required.
o Housekeeping and Laundry: Services like cleaning, washing and ironing of clothes and
other fabrics used by staff and patients.
o Food Services: Meal costs associated with patient meals and staff cafeteria operations.
• Administrative Costs
o Office Supplies: Papers and other products, computer, and all items used in an office.
o Communication: Telephone and other communication costs like, Internet expenses.
o Insurance: Liability, malpractice, and property insurance premiums, Claims reserves.
• Contracted Services
o Consultants and Specialists: Cost of outsourcing or hiring experts and consultants.
o IT Services: Expenses related to ITS such as medical applications, electronic health
records and other IT networks.
• Other Operational Expenses
o Marketing and Outreach: The costs that are directly associated with raising awareness in
the community, or recruiting patients.
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