Rapha Budget Summary
Key Budget Elements to Support the Implementation of a Strategic Plan
(Part III: Financial Plan)
This budget is established to accomplish the underlying vision and goals driving and directing the Rapha Assisted Living. The goals and objectives determined in the three year strategic plan indicate the long and short term needs of Rapha and updates the capital facility strategies that are indispensable to the annual operating budget process. Hence, Rapha is relying on the sound and measured revenue and resources for qualitative and quantitative forecasting and strategic operation and management (City of Langley, 2014). Furthermore, the budget enabled Rapha to effectively clarify and prioritize the goals and objectives delineated during the strategic planning process. Measured revenue resources were carefully linked to the budget calendar, noting how resources are being generated and used to meet the goals and objectives of the AL, and that those objectives are effectively balanced with the resources available to provide the required level of service excellence.
Generally, our budget is easily balanced as resources are allocated and funded through residents’ payments for the competent care and services. Rapha forecasts include 17 Assisted Living Main Residents that are charged $3,500 and 2 …show more content…
Medicare residents who are charged $4,070 per month for a total sum of $721,680 in the first year. In the second year the forecasts include 17 Main residents that are charged $3,675 and 3 Medicaid residents who are charged $4,274 per month; for a total sum of $903,564. And finally, in the third year, the AL has 17 Main residents and 3 Medicaid persons who are charged $3,859 and $4,488 respectively per month, for the sum total of $948,804. These amounts provide the necessary financial resources to effectively fund the AL program annually. Moreover, Rapha’s resources include a capital outlay of $500,000 to ensure the success of the AL program. Therefore, the AL program has been encouraged to succeed.
Furthermore, the AL is effectively staffed, with a case manager delegating nurse, who is responsible for teaching the 20-hour medication administration-training program, assesses the clinical status of the residents, and serves as the RN delegating and supervising medication administration in the Assisted living setting in compliance with COMAR 10.27.11 and COMAR 10.07.14 (COMAR 10.07.14, 1999).
Moreover, Rapha ensures that the AL is effectively staffed to provide care and services excellence for the residents. The staff, including a consultant pharmacist, manager, alternate manager, dietician cook, and medication technician are included and reflected in the financial plan
also.
(Part III: Financial Plan)
This budget is established to accomplish the underlying vision and goals driving and directing the Rapha Assisted Living. The goals and objectives determined in the three year strategic plan indicate the long and short term needs of Rapha and updates the capital facility strategies that are indispensable to the annual operating budget process. Hence, Rapha is relying on the sound and measured revenue and resources for qualitative and quantitative forecasting and strategic operation and management (City of Langley, 2014). Furthermore, the budget enabled Rapha to effectively clarify and prioritize the goals and objectives delineated during the strategic planning process. Measured revenue resources were carefully linked to the budget calendar, noting how resources are being generated and used to meet the goals and objectives of the AL, and that those objectives are effectively balanced with the resources available to provide the required level of service excellence.
Generally, our budget is easily balanced as resources are allocated and funded through residents’ payments for the competent care and services. Rapha forecasts include 17 Assisted Living Main Residents that are charged $3,500 and 2 …show more content…
Medicare residents who are charged $4,070 per month for a total sum of $721,680 in the first year. In the second year the forecasts include 17 Main residents that are charged $3,675 and 3 Medicaid residents who are charged $4,274 per month; for a total sum of $903,564. And finally, in the third year, the AL has 17 Main residents and 3 Medicaid persons who are charged $3,859 and $4,488 respectively per month, for the sum total of $948,804. These amounts provide the necessary financial resources to effectively fund the AL program annually. Moreover, Rapha’s resources include a capital outlay of $500,000 to ensure the success of the AL program. Therefore, the AL program has been encouraged to succeed.
Furthermore, the AL is effectively staffed, with a case manager delegating nurse, who is responsible for teaching the 20-hour medication administration-training program, assesses the clinical status of the residents, and serves as the RN delegating and supervising medication administration in the Assisted living setting in compliance with COMAR 10.27.11 and COMAR 10.07.14 (COMAR 10.07.14, 1999).
Moreover, Rapha ensures that the AL is effectively staffed to provide care and services excellence for the residents. The staff, including a consultant pharmacist, manager, alternate manager, dietician cook, and medication technician are included and reflected in the financial plan
also.