Healthcare Budgeting

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Budget is a vital piece of any and all businesses. It allows a business to use its historical data against its current data to help determine the financial future of the business. While I have not been very involved in the budgeting process of my current or previous organization, I can honestly say it is not an easy task. Managing a healthcare organization is challenging, therefore, controlling/cutting budgets and trying to keep profits while providing excellent service makes it even more complex. We learned in earlier an earlier chapter that they main function of health care manager involves, planning, decision-making, controlling, organizing, and staffing just to name a few. That being said, budgeting is very important and requires all …show more content…
Due to recent Medicare cuts, my organization is constantly trying to find ways to cut costs. I have been tasked with finding less costly medical equipments if I want to continue to provide services to my referrals. This has been extremely difficult to do due to the fact some equipments cannot be substituted. For instance, I received an order for a ASV machine that cost my company $3000 and Medicare only reimburses us $2420. This equipment cannot be substituted due to fact that it is a vent and provides the patient with certain pressure support, which keeps them breathing. Although, we knew Medicare was going to cut down on their reimbursement, neither us or the manufacturers of the equipments anticipated the cuts to be drastic. It’s made each of us reassess our budgeting plan. We operate on a quarterly budget and I must say we don’t plan as well as we should. End of quarter is coming up the end of this month and looking at how much we’ve spent on equipment purchasing and repairs it will not be a good quarter. Personally, I am not a numbers person so budgeting seems overwhelming to me. I don’t believe a realistic budget was established from the initial stage and have expressed the need for a well-designed budget, but I don’t think it will be taken seriously as I am not part of the group that plans the
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