Healthcare Management Budgeting: A Case Study

My philosophy of healthcare management budgeting would be to use budgeting as a planning and controlling tool (Liebler & McConnell, 2012). Since a budget is, “a single use plan that covers a specific period of time” (Liebler & McConnell, 2012); it would be beneficial to use the budget for future or continuing plans as well as a way to control future expenses. For instance, if an organization were making a plan they would need to look at previous expenditures to determine how much is available to make the plan and change that they want to implement, and review how much was used for previous expenses. It is also important to follow a budget period, as a way to limit expenses and keep track of overall expenditures. A budget period could also
There are two different types of budgeting periods, periodic moving budget and milestone budgeting (Liebler & McConnell, 2012). Both types of budget periods are very useful, however the company should pick the type that best suits their requirements and limits. In addition, there are also various types of budgets and different approaches to budgets; again, the company should pick the method that best suits their needs and limits. It might also be beneficial for a company to have a general audit in order to prevent issues such as fraud. In addition, I would also make sure to follow the budgetary process. There needs to be an initial preparation, review and approval process, and then an implementation phase (Liebler & McConnell, 2012). Furthermore, I would also follow the six requirements of a sound budgetary procedure, which includes: a sound organizational structure, consistent budget period, development of adequate statistical data, reporting system, uniform code, and a regular audit system (Liebler & McConnell, 2012). By following the budgetary process and the six procedure requirements, I could ensure that my budgeting plan would be effective and fit the requirements
It is very detailed and precise and an essential part to any organization. When planning for a healthcare organization, I would make sure to include the department leaders, important clients, and maybe even employees in the planning process. That way the plan can be made to fit the necessities and requirements of every group. I would also focus on the objectives and goals of the organization. It is also important to have a plan that is flexible with realistic goals. Change is inevitable and the plan needs to change according to the different changing requirements. For the actual development of a plan I would follow a basic plan outline which would include: the purpose/ mission/ philosophy/ goal, the objectives, the functional objectives, policies, procedures, work standards, performance standards, training objectives, management by objectives, and operational goals (Liebler & McConnel, 2012). By doing so, the plan would operate smoothly and the objectives and goals would be