Budgets under Chief Financial Officer in the Patton-Fuller Community Hospital Virtual Organization

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Resources: Budgets under Chief Financial Officer in the Patton-Fuller Community Hospital Virtual Organization and the Health Care Budget assignment from Week Five.

Part 1: 2010 Operating Budget

Review the 2009 Budget Issues – Nurses file in the Patton-Fuller Community Hospital Virtual Organization. This document can be found on the Chief Financial Officer’s web page under Special Projects.

Decide which of the two highlighted options you will implement from the Nursing Statistics memo of the 2009 Budget Issues – Nurses document.

Discuss decision-making processes in creating a budget.

Create a new 2010 Operating Budget based on the labor decision you select from the Nursing Statistics memo. Use your Week 5 Health Care Budget, see attachment, assignment as the foundation to develop your new projected budget.

Part 2: Analysis Paper

Write a 1,050- to 1,400-word paper. Your paper should:
o Discuss decision-making processes in creating a budget.
o Explain the role of variance analysis in maintaining an operating budget.
o Differentiate between managerial accounting and financial management.
o Explain generally accepted accounting principles applied to the health care industry and how they are applied to your Operating Budget Projection.
o Discuss the decision between the two labor alternatives facing the management of PFCH and the annual cost increase of each.
o Make a recommendation about which labor alternative should be chosen.
o Justify and analyze the labor decision that you recommend. Your justification should present numbers related to fiscal management including how each decision affects the 2010 Budget Projection.
o Analyze the effect of your decision on the operating budget, including:
o The opportunity cost of your recommendation
o How your recommendation affects employee satisfaction
o How your recommendation affects patient care and patient satisfaction

Sample Solution

When creating a budget, decision-making processes involve careful consideration of numerous factors. Firstly it is important to review the current budget in order to identify any issues that need addressed (Chen et al., 2018). This involves looking at both income and expenditure over past year analyze where improvements can made going forward.

Afterwards objectives must be established for upcoming cycle – this includes setting realistic goals which can achieved within given time frame whilst ensuring resources are allocated accordingly (Abele & Robichaud, 2016). Additionally, policies and procedures should be articulated clearly so all staff understand their roles responsibilities thus minimizing chance confusion or miscommunication.

Furthermore, proper planning needs conducted consider any external factors such as inflation or market changes which may affect bottom line thus necessitating additional allocate funds certain areas. Finally risk management should carried out ensure potential pitfalls unforeseen circumstances accounted for (Young & Cruz, 2015). Once all these considerations have taken into account then decisions can made regarding how best utilize available funds to achieve desired outcomes.

In conclusion, creating budget requires thoughtful process which takes into account numerous elements order maximize chances success throughout course financial cycle.

that can go back many years and may even result in personal identity loss (Serra, Fadda, Buccione, Caltagirone, and Carlesimo, 2007). In this it is quite easy to see that psychogenic amnesia seems to produce a widespread of cognitive deficits unlike organic amnesia which is typically restricted to memory function (Kumar, Rao, Sunny, and Gangadhar, 2007). Amnesia with an organic onset, on the other hand, does show signs of cerebral sufferance, meaning that there is clear physical evidence that shows that the condition can be linked to damage of the cortical areas of the brain (Serra, Fadda, Buccione, Caltagirone, and Carlesimo, 2007). Even though many cases of amnesia can be quite debilitating, it is not to say that people cannot overcome their condition and lead a successful life like Angie, a 50-year-old woman with profound anterograde amnesia (Duff, Wszalek, Tranel, and Cohen, 2008). Whereas, it could have a completely opposite effect in which the person suffering from some sort of amnesia could be lead to a life of crime and violence, like depicted in the movie Memento.

Adding on to the last point, there is one article that points to the fact that psychogenic and organic amnesia can be compared on 4 different levels. These levels include clinical, neuroradiological, neuropsychological and psychopathological features (Serra, Fadda, Buccione, Caltagirone, and Carlesimo, 2007). When taking a look at the clinical aspect it can be seen that in organic amnesia the memory disorder seems to preserve personal identity, basic semantic knowledge and procedural skills, while psychogenic amnesia includes the loss of personal identity and very basic semantic and procedural abilities (Serra, Fadda, Buccione, Caltagirone, and Carlesimo, 2007). In the neuroradiological sense, organic amnesia seems to have a physical cause that is consistent with cerebral damage affecting cortical and/or subcortical areas known to be important in memory, while in psychogenic amnesia damage to the cerebral areas important in memory does not have a clinical or neuroradiological basis (Serra, Fadda, Buccione, Caltagirone, and Carlesimo, 2007). Looking at the neuropsychological aspect it is easy to see that in organic amnesia there is documented impairment in declarative episodic memory with preservation of other memory functions and general intelligence, while in psychogenic amnesia declarative episodic memory is affected along with general intellectual dysfunction (Serra, Fadda, Buccione, Caltagirone, and Carlesimo, 2007). In the psychopathological sense, organic amnesia shows no predisposing psychiatric conditions before the onset of the condition, while in psychogenic amnesia a psychopathological condition is existent before the onset of the condition (Serra, Fadda, Buccione, Caltagirone, and Carlesimo, 2007). Although psychogenic and organic amnesia are on

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