Budget Management Analysis Essay

1307 Words Apr 25th, 2013 6 Pages
Budget management analysis is commonly used by mangers as a tool helping to make sure that all resources in existence get put to use correctly. The budgets are determined annually because they are determined by the preceding year’s budget and differences. Budgets can be controlled by specific techniques to control budgets within prediction, consider five to seven expense results with budget anticipations, explain possible factors that cause fluctuations, present ways to keep results associated with goals, share three benchmarking strategies, and consider the ones that could increase budget accuracy, and give good reason for the choices made. (Finkler, 2007) Several techniques are often used to regulate budgets; managers as well as the …show more content…
The hours per patient day (HPPD) licensed productive hours was .13 over budget, the primary product hours was within budget, and the total productive hours was within budget. The hours per patient day over budget might have been a result of the unit being over staffed or also because of the overtime and registry hours. The average daily census (ADC) per unit changed from being within budget to 7 .50 over the budget. The daily census is rather changeable and is determined by the time of year, the admissions from ER or the medical clinic, and transfers from similar hospitals or facilities. Strategies to maintain the results aligned with goals is usually done by performance budgeting , that will go over key areas such as staffing , spending control , increased proficiency , and indirect and direct patient care . The efforts influenced by examining these efficiency areas can be day-to-day staffing calculations, minimal cost to the unit, performing more successfully and better time management strategies, patient health care planning, as well as time spent on patient charting. Giving rewards is possibly an alternative way to involve the staff by informing them of the budget goals. (Finkler, 2007) Benchmarking helps to be aware of performance gaps and locate where improvement is necessary. Benchmarking is commonly used by large health systems and smaller practices equally as a tool to

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