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Scenario:
Fullhealth is one of the largest healthcare organizations in Helena, Montana. Fullhealth owns multiple lines of healthcare businesses including a health plan, three long-term care assisted living facilities, and two home healthcare agencies.
There are three types of healthcare enrollee plans with the following number of enrollees: 8500 Medicaid enrollees, 6200 Medicare enrollees, and 15,000 employer sponsored health plan enrollees. Within the last two to four years, all plans have consistently earned a profit. The Board of Directors, however, wants to raise the target profit for future years.
Local competitors with similar facilities have either earned marginal profits or reported a net loss. If profit losses continue, two of your company’s competitors may be forced to go out of business by the end of the year. You are a staff member in the Finance Department of Fullhealth whose sole responsibility is to advance the success of the organization through assisting in the planning, forecasting, and managing of the organization’s finances.
ASSIGNMENT:
As a member of the finance team, you have been asked to prepare the upcoming year’s organizational budget for Fullhealth’s assisted living facility. After reviewing specific data, internal input, and external input from various sources, you find the executive management team would like the budget to reflect the following:
increase in revenue reimbursement
allocation for new improvement
increase in nurses’ salaries
Prepare next year’s facilities budget in a PowerPoint presentation format using last year’s budget as a basis. The budget should be formatted to reflect the percentage increase or decrease from last year’s budget.
The budget should reference one of the following:
fixed budget
statistical budget
revenue budget
capital budget
cash budget
flexible budget
bottom-up budget
top-down budget
