Develop a budget for the HIM department for the next FY at Sea Crest Healthcare Center....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Develop a budget for the HIM department for the next FY at Sea Crest Healthcare Center. The FY begins on July 1. Utilize spreadsheet software to develop the budget parts and then develop the department budget for the next FY. There are three parts to the budget as follows: • Personnel (see Table 6-33) Operational (see Table 6-34) Capital equipment (see Table 6-35, Figure 6-3, and Figure 6-4) 1. Calculate the budget for each month and a total for the year. Line items to be included are identified in each of the three parts of the budget. Any limitations/instructions from administration are also provided. 2. Use the capital expenditure approval form (Figure 6-4) in completing and submitting a capital expenditure request for a new dictation system. Personnel Budget The FY personnel budget is indicated in Table 6-36. Remember that the salary raises will not go into effect until October of the FY. Instructions Limitations Calculate fringe benefits as 25% of monthly salary. A 5% raise witl go into effect in October. Overtime cannot exceed $4,000.00 for the year. No hew employees Use a spreadsheet to calculate and reflect the monthly personnel budget. 354 Section 6 LEADERSHIP O TABLE 6-33 Information for Salary Budget. Personnel Budget Position Current Salary 20XX-20XX Salary Director $82,000.00 Assistant director $74,000.00 Receptionist/clerk Analyst/coder/abstractor Analyst/coder/abstractor HIM clerk Transcriptionist $31,000.00 $46,000.00 $48,500.00 $30,000.00 $45,000.00 Transcriptionist Part-time HIM clerk $47,000.00 $16,500.00 Line items total salaries Total salaries and fringe benefits Overtime TABLE -4 Operational Budget Operational Budget Operation Budgeted Telephone $2,000.00 Supplies $1,050.00 Scanner $10,000.00 Equipment $22,000.00 Copy machine $5,000.00 Education $5,000.00 TOTAL ....** oo .......... Capital Equipment Budget Instructions: Complete the HIM department's capital equipment budget for the FY. Note: The only major equipment request is to replace your current dictation system. Administration has distributed budget requests to each department at General Hospital with a memo indicat- ing a due date of one month. Instructions state that the capital budget is "zero-based," requiring justification of any proposed capital expenditures. You have listed some justifications for a new digital dictation system for the upcoming year in Figure 6-3. You need to complete the capital expenditure approval form shown in Figure 6-4 and return it to administration with your budget. As the HIM director, you know that after administration's review of submitted department budgets, only those foreseen as most important will be approved and funded. For this exercise, include the dictation system in your capital budget as if it had been approved. TABLE -5 Capital Equipment Information Capital Equipment Item: New Dictation System Cost for system $65,000.00 Annual income produced $20,000.00 Depreciation over five years JUSTIFICATION FOR NEW TRANSCRIPTION SYSTEM • The current dictation system is 15 years old. It requires service a couple of times per month. The downtime of the system averages 50 minutes each time the serviceman comes out to service it. • The medical statt has complained of not being able to access the system due to getting busy signals. • Dr. Delinco complains that his operative reports are taking 1 to 1% weeks to be typed. • Dr. Smith has complained that the current system does not allow him to call in and listen to his dictations as an alternative when the report is not available on the patient chart. • Prioritizing reports among the transcriptionists is not as automated as newer systems allow, therefore consuming transcribers' time and impacting production. FIOUNE Justification for New Transcription System CAPITAL EXPENDITURE APPROVAL FORM Description: Budget Year Type of Expenditure Briefly deline function of capital expenditure Budget Cost: $ New Replacement: Briefly describe why item is needed Justification for new transcription system is attached Isee Figure -31 F CtEapandtu A Form CASE STUDIES IN HEALTH INFORMATION MANAGEMENT Financial Analysis Annual Al Gross Revenue B) Less Depreciation Cl Gross Profit DI Asset Cost El Return on Asset F1 Payback Years Requested by: (Department Manager) Approved by: (Operations Manager) Date (Finance Managerl Date (Administrator Date. rO Capital Expenditure Approval Form leantinued Developing the Health Information Management Department Budget Develop a budget for the HIM department for the next FY at Sea Crest Healthcare Center. The FY begins on July 1. Utilize spreadsheet software to develop the budget parts and then deveiop the department budget for the next FY. There are three parts to the budget as follows: • Personnel (see Table 6-33) • Operational (see Table 6-34) Capital equipment (see Table 6-35, Figure 6-3, and Figure 6-4) 1. Calculate the budget for each month and a total for the year. Line items to be included are identified in each of the three parts of the budget. Any limitations/instructions from administration are also provided. 2. Use the capital expenditure approval form (Figure 6-4) in completing and submitting a capital expenditure request for a new dictation system. Personnel Budget The FY personnel budget is indicated in Table 6-36. Remember that the salary raises will not go into effect until October of the FY. Instructions: Calculate fringe benefits as 25% of monthly salary. A 5% raise will go into effect in October. Overtime cannot exceed $4,000.00 for the year. No new employees Limitations: Use a spreadsheet to calculate and reflect the monthly personnel budget. Develop a budget for the HIM department for the next FY at Sea Crest Healthcare Center. The FY begins on July 1. Utilize spreadsheet software to develop the budget parts and then develop the department budget for the next FY. There are three parts to the budget as follows: • Personnel (see Table 6-33) Operational (see Table 6-34) Capital equipment (see Table 6-35, Figure 6-3, and Figure 6-4) 1. Calculate the budget for each month and a total for the year. Line items to be included are identified in each of the three parts of the budget. Any limitations/instructions from administration are also provided. 2. Use the capital expenditure approval form (Figure 6-4) in completing and submitting a capital expenditure request for a new dictation system. Personnel Budget The FY personnel budget is indicated in Table 6-36. Remember that the salary raises will not go into effect until October of the FY. Instructions Limitations Calculate fringe benefits as 25% of monthly salary. A 5% raise witl go into effect in October. Overtime cannot exceed $4,000.00 for the year. No hew employees Use a spreadsheet to calculate and reflect the monthly personnel budget. 354 Section 6 LEADERSHIP O TABLE 6-33 Information for Salary Budget. Personnel Budget Position Current Salary 20XX-20XX Salary Director $82,000.00 Assistant director $74,000.00 Receptionist/clerk Analyst/coder/abstractor Analyst/coder/abstractor HIM clerk Transcriptionist $31,000.00 $46,000.00 $48,500.00 $30,000.00 $45,000.00 Transcriptionist Part-time HIM clerk $47,000.00 $16,500.00 Line items total salaries Total salaries and fringe benefits Overtime TABLE -4 Operational Budget Operational Budget Operation Budgeted Telephone $2,000.00 Supplies $1,050.00 Scanner $10,000.00 Equipment $22,000.00 Copy machine $5,000.00 Education $5,000.00 TOTAL ....** oo .......... Capital Equipment Budget Instructions: Complete the HIM department's capital equipment budget for the FY. Note: The only major equipment request is to replace your current dictation system. Administration has distributed budget requests to each department at General Hospital with a memo indicat- ing a due date of one month. Instructions state that the capital budget is "zero-based," requiring justification of any proposed capital expenditures. You have listed some justifications for a new digital dictation system for the upcoming year in Figure 6-3. You need to complete the capital expenditure approval form shown in Figure 6-4 and return it to administration with your budget. As the HIM director, you know that after administration's review of submitted department budgets, only those foreseen as most important will be approved and funded. For this exercise, include the dictation system in your capital budget as if it had been approved. TABLE -5 Capital Equipment Information Capital Equipment Item: New Dictation System Cost for system $65,000.00 Annual income produced $20,000.00 Depreciation over five years JUSTIFICATION FOR NEW TRANSCRIPTION SYSTEM • The current dictation system is 15 years old. It requires service a couple of times per month. The downtime of the system averages 50 minutes each time the serviceman comes out to service it. • The medical statt has complained of not being able to access the system due to getting busy signals. • Dr. Delinco complains that his operative reports are taking 1 to 1% weeks to be typed. • Dr. Smith has complained that the current system does not allow him to call in and listen to his dictations as an alternative when the report is not available on the patient chart. • Prioritizing reports among the transcriptionists is not as automated as newer systems allow, therefore consuming transcribers' time and impacting production. FIOUNE Justification for New Transcription System CAPITAL EXPENDITURE APPROVAL FORM Description: Budget Year Type of Expenditure Briefly deline function of capital expenditure Budget Cost: $ New Replacement: Briefly describe why item is needed Justification for new transcription system is attached Isee Figure -31 F CtEapandtu A Form CASE STUDIES IN HEALTH INFORMATION MANAGEMENT Financial Analysis Annual Al Gross Revenue B) Less Depreciation Cl Gross Profit DI Asset Cost El Return on Asset F1 Payback Years Requested by: (Department Manager) Approved by: (Operations Manager) Date (Finance Managerl Date (Administrator Date. rO Capital Expenditure Approval Form leantinued Developing the Health Information Management Department Budget Develop a budget for the HIM department for the next FY at Sea Crest Healthcare Center. The FY begins on July 1. Utilize spreadsheet software to develop the budget parts and then deveiop the department budget for the next FY. There are three parts to the budget as follows: • Personnel (see Table 6-33) • Operational (see Table 6-34) Capital equipment (see Table 6-35, Figure 6-3, and Figure 6-4) 1. Calculate the budget for each month and a total for the year. Line items to be included are identified in each of the three parts of the budget. Any limitations/instructions from administration are also provided. 2. Use the capital expenditure approval form (Figure 6-4) in completing and submitting a capital expenditure request for a new dictation system. Personnel Budget The FY personnel budget is indicated in Table 6-36. Remember that the salary raises will not go into effect until October of the FY. Instructions: Calculate fringe benefits as 25% of monthly salary. A 5% raise will go into effect in October. Overtime cannot exceed $4,000.00 for the year. No new employees Limitations: Use a spreadsheet to calculate and reflect the monthly personnel budget.
Expert Answer:
Related Book For
Business
ISBN: 978-0324829556
10th Edition
Authors: Willian M Pride, Robert J. Hughes, Jack R Kapoor
Posted Date:
Students also viewed these accounting questions
-
Develop a personal cash budget for the next six months. Explain what you would do if there are budget shortfalls or excess cash amounts at the end of any month during the six-month period.
-
JK Limited has prepared a budget for the next 12 months when it intends to make and sell four products, details of which are shown below: Budgeted fixed costs are 240 000 per annum and total assets...
-
A companys budget for the next period shows that it would break even at sales revenue of $800 000 and fixed costs of $320 000. The sales revenue needed to achieve a profit of $200 000 in the next...
-
# Ch. 6 Homework 1. EX.06.01 2. EX.06.03 3. EX.06.04 4. EX.06.09 5. PR.06.01A Progress: 1/5 items Assignment Score: 40% v2.cengagenow.com Delgadillo Chegg Accounting MRK & ECO Extra credit...
-
Dunks Holdings Ltd. (Dunks) is an importer of hardware goods and distributes the goods to hardware retailers around the country. The growth in the do-it-yourself (DIY) market, which has accompanied...
-
Go to http://cs.unc.edu/~welch/class/comp145/ media/docs/Boehm_Term_NE_Fail.pdf and read the article Project Termination Doesnt Equal Project Failure by Barry Boehm. Summarize his main arguments....
-
A \(60 \mathrm{mph}\) wind blows against a football stadium scoreboard that is \(36 \mathrm{ft}\) tall, \(80 \mathrm{ft}\) wide, and \(8 \mathrm{ft}\) thick (parallel to the wind). Estimate the wind...
-
Calculating Transactions Required Cow Chips, Inc., a large fertilizer distributor based in California, is planning to use a lockbox system to speed up collections form its customers located on the...
-
Provided below is a trial balance for Juanita's Delivery Service. Juanita's Delivery Service Trial Balance September 30, 20 ACCOUNT TITLE DEBIT BALANCE CREDIT BALANCE Cash 5,000 Accounts Receivable...
-
Fitz Products Inc. reported $1,075,049 profit in 2023 and declared preferred dividends of $75,100. The following changes in common shares outstanding occurred during the year. Jan. 1 78,000 common...
-
Draw a graph that plots Short-run Aggregate Supply, Long.Run Aggregate Supply, and Aggregate De- mand. Indicate the equilibrium point on the graph. Then, explain the shifts of the curves and the...
-
3. A uniform magnetic field makes an angle of 30 with the axis of a circular coil that has 300 turns and a radius equal to 4 cm. The magnitude of the magnetic field increases at a rate of 85 T/s,...
-
18 8 8 8 ( n=0 n=0 n=1 n=1 - 3)" n! (2x + 1) n2 (1)"n (x + 2) Zn determine the radius of convergence of the given power series. 18 8 8 8 n=0 r=0 S2"x n=1 n | n=1 (x - xo) n n!xn m
-
(1.3) (a) How many water molecules are there in your body? (Assume that you are nearly all water.) (b) How many drops of water are there in all the oceans of the world? (The mass of the world's...
-
Using that limx0 sin x X = sin x 1. limx2 X 1. lim 0 1. lim 0 Xx 1, compute the following limits: 1. limx0 1. limx0 1. limx0 sin(5x) tan (2x) x4 sin ex ex 1-cos x X 10 tan 0 (2x0) 200 sin (3x) 1....
-
- Prove that if u is a reasonable utility function, then u(w) u(w h) > u(w + h) u(w) for any w > 0 and h = (0, w).
-
How well has your team developed in conflict resolution, collaborative problem solving, communication, goal setting, performance management, planning, and task coordination?
-
On average there are four traffic accidents in a city during one hour of rush-hour traffic. Use the Poisson distribution to calculate the probability that in one such hour there arc (a) No accidents...
-
Despite high-profile contests run by Heinz, PepsiCo, and dozens of other companies, consumer-generated commercials are still a novelty. When a marketer invites consumers to send in homemade ads, the...
-
How do (a) Convenience stores. (b) Traditional specialty stores. (c) Category killers compete with other retail outlets?
-
Is gross domestic product a reliable indicator of a nations economic health? What might be a better indicator?
-
James Halperin, co-chair of Heritage Auctions, was interviewed about his experiences auctioning rare coins. Noting that when the auction house first opened in the 1970s, I used to proofread every...
-
An editorial on Bloomberg. com criticized President Bidens Buy American policy. The editorial argued that the . . . problem is that protectionism sets the US at odds with its international...
-
An article in the Wall Street Journal explained that despite rising national security tensions between the United States and China in 2023, trade between the two nations was rising. China is a...
Study smarter with the SolutionInn App