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Nurs fpx 6216 assessment 3. Budget Negotiations and Communication $11.49
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Nurs fpx 6216 assessment 3. Budget Negotiations and Communication

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Write 3-5 page executive summary that justifies the operating budget you prepared in assessment 2.

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  • September 4, 2024
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NURSFPX-6216 Assessment 3

, Strategic Plan for Ensuring Profitability and Fiscal Success

1. Vision and Mission Alignment

Vision: To be the preferred care organization that delivers efficient, competent and

patient-centered care services for the elderly with sustainable financial and operational integrity.

Mission: To provide high quality patient care, prudent financial responsibility, and

sustainable corporate profits.

2. Financial Goals and Objectives

 Decrease operating costs by a minimum of 10% (Short term goal).

 Ensure that monthly targets are achieved and overall sales increase by 15% (Short term

goal).

 Reduce overtime expenses by twenty percent (Short term goal).

 Increase the general profitability by twenty five percent (Long term goal).

 Ensure that budget variance should not exceed ±5% (Long term goal).

 Design and establish new revenue models (Long term goal).

3. Revenue Enhancement Strategies

 Revenue Cycle Optimization:

 Optimizing billing and coding to decrease on errors and make payments be completed

faster.

 Improve payer contract negotiations in a bid to secure the best rates of pay.

 Use of patient pre-registration and eligibility verification to prevent denied claims.

 Service Line Expansion:

 Offer new services and programs which will be focused on the elderly, including the

telemedicine service and wellness programs.

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