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PowerPoint presentation of 10–15 slides + speaker notes of 150 words per slide

As a member of the finance team, you have been asked to forecast the upcoming year’s operational budget for Krona Community Hospital. Second page is last year’s budget. After reviewing specific data, internal input, and external input from various sources, you find that the executive management team would like the budget to reflect the following:

• 10% increase in inpatient revenue
• 15% increase in outpatient revenue
• 5% increase in pharmacy revenue
• 15% increase in home health and hospital revenue
• 10% increase in payroll and benefits

Note: The budget should be formatted to reflect the percentage increase or decrease from last year’s budget.

Additionally, provide discussion on the following:

• How might you increase revenue in each of the areas? Think outside of the box, and perform research to determine current trends in those areas.
• Why would there be a need to increase payroll, particularly nurses’ salaries?
• Provide an explanation as to how the Krona Community Hospital may be able to achieve an increase in the revenue areas that the chief executive officer (CEO) wishes you to address.

KRONA HOSPITAL  OPERATING BUDGET FOR 20XX 

Revenues   

  Inpatient    $25,000,000  

  Outpatient  15,000,000 

  Emergency Room    10,000,000 

  Laboratory  5,000,000 

  Pharmacy  1,500,000 

  Home Health and Hospice  1,500,000 

  Ambulance Services  950,000

  Substance Abuse  250,000

  Other    850,000 

Subtotal  $60,050,000  

Less Chartiy Care  18,000,000 

Net Revenues  $42,050,000  

Expenses 

  Payroll (including nursing salaries  $12,500,000  

  Benefits  3,000,000 

  Contract Labor  100,000

  Insurance  300,000

  General Services (laundary, security, etc)  3,000,000 

  Depreciation   1,500,000 

  Interest Expense  300,000

  Professional Services  10,000,000 

Total Operating Expenses  $30,700,000  

Net Income  $11,350,000      

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