1 Describe the mission, assumptions and objectives for the upcoming budget year for the departments involved. (Nursing, Laboratory, Pharmacy & Radiology)
2 Establish statistics volume projections for the budget year 2015 for all four (4) departments.
3 Establish a position control plan for the new Psychiatric Unit. (Part of Nursing)
4 Establish a position control plan for nursing and laboratory.
5 Complete expense item for laboratory & radiology for 2015.
6 Project the expected net revenue for all Medicare, HMO, and all Other Insurance patients.
The percentage breakdown of patients by payor mix is as follows:
Blue Cross 16%
Medical Asst 08%
Commercial INS 07%
Self Pay 03%
In the new fiscal year, the hospital plans to:
1 Establish a separate distinct 15-bed inpatient psychiatric unit.
2 Install new equipment in the laboratory to enable the hospital to do 35% more tests in-house rather than send them to a reference lab.
3 Recruit a general surgeon and a Internist.
4 Purchase an additional CT scanner which is expected to increase current radiology volumes by 3.25%.
THREE DEPARTMENTS ARE INVOLVED IN OUR BUDGET EXERCISE. THEY ARE NURSING, LABORATORY, PHARMACY AND OUTPATIENT/AMBULATORY SERVICES.
2012 – 2013 2013- 2014 2014- 2015
Admissions In Pt (Nursing) 7,395 7,400 7,370
Laboratory Test 399,330 411,810 421,564
Pharmacy Rx 99,832 100,011 99,642
Radiology Exams 68,222 69,124 68,950
2012 2013 2014
Supplies $79,866 $86,480 $96,959
Supplies $395,205 $405,222 $410,100
Gross Revenue Projected for the 2014-2015 budget year is as follows:
In Patient $30,675,000
Out Patient $36,878,000
Current Reimbursement Formulas:
In Patient Out Patient
Medicare $5760/case 38% of Charge
HMO $1215.00/pat day 31% of Charge
Other Insurance $7655.00/discharge 42.5% of Charge