HR Finance

by s and the Financial Case Analysis Budgeting in social and health careorganizations examines the structure and preparation of a budget as well as various approaches relevant in monitoring and managing expenditure and services. Departments and ward managers in social and healthcare organizations are well informed with budget information and are always responsible for this budget. Their involvement in the process of budgeting varies from different organizations, but department managers and nurses are mainly involved in the budget preparation. This helps these organizations since they understand how they will spend the income of the organization without misuse.
The hospital requires ensuring that it operates under a budget in order to meet all the demands. It seeks to establish cheaper and effective actions for all renal vein cases. It can get a cost effective location and get a bigger space in order to accommodate the increasing number of patients with renal cases (Dunham-Taylor&amp. Pinczuk, 2006, p.4). In this specific project, the community will incur lower IOP appointment with opticians below ₤17 and less OCT accredited assessment below ₤38. Additionally, budgeting for this hospital is essential in order to improve the quality of services offered at the hospital. In most cases, patients are willing to pay higher fees for good qualities. The hospital can hire more professionals in an attempt to increase the profit margin, which will enhance growth. The increased number of renal patients requires to be addressed since it is a challenge to the society. Additionally, an OCT machine is expensive for the hospital to purchase. therefore, it can be obtained through hire purchase form the manufacturing company. This machine will enable the increased number of patients to be attended perfectly within the shortest time possible. This machine will be highly profitable to the hospital since it will ensure that all patients that visit are treated and all necessary tests carried out.
References
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DUNHAM-TAYLOR, J., &amp. PINCZUK, J. Z. (2006). Health care financial management for nurse managers: merging the heart with the dollar. Sudbury, Mass, Jones and Bartlett Publishers. P.4.
FINKLER, S. A., KOVNER, C. T., &amp. JONES, C. B. (2007). Financial management for nurse managers and executives. Philadelphia, Pa, Saunders Elsevier. P.476.
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