HCMG745 Healthcare Practice Management

$50.00

Part II:  Financial Requirements

Due:  Week 4, Day 7

Points:  200

For Part II, you are to provide a Table of Contents using the headings below. Discuss each area this week as part of your Physician Practice Business Plan:

 

USE THESE HEADINGS IN YOUR PAPER:

 

  • Fixed versus Flexible Budgets (Explain the difference between fixed and flexible budget in a paragraph – what are your concerns here? How can it affect your practice?)
  • Develop and display an Operating Budget (categories and totals only): Operating Monthly Budget  –  This is an example of categories: the  list is not all inclusive – you can add more categories 
  • INCOME:  This is your revenue source from 3rd party: Medicaid, Medicare or the insurance companies you are contracted with refund from insurance companies (what are you expecting? Based on your office fee and schedule
  • TOTAL INCOME
  • EXPENSES
    • Equipment
    • Insurance:
    • Supplies: 
    • Telephone
  • TOTAL EXPENSES
  • Income – Expenses:
  • GRAND TOTAL

 

A full discussion of each one below: Use each question as a HEADING:

  • Capital Needs/Long-term needs
  • Benefits Provided by the Practice (example – vacation – how many vacation/sick, physician & employees? life insurance, 401K? Company match? etc.) 
  • Physician salaries
  • Staff salaries/raises/bonuses/job performance 
  • Accounts Receivable Management

 

Submit paper by Day 7 – to the Week 4 Research Paper link under the Written Assignments area of the course.

 

Description

Week 4: Creating an Operating Budget and Best Practices

Part II:  Financial Requirements

Due:  Week 4, Day 7

Points:  200

For Part II, you are to provide a Table of Contents using the headings below. Discuss each area this week as part of your Physician Practice Business Plan:

 

USE THESE HEADINGS IN YOUR PAPER:

 

  • Fixed versus Flexible Budgets (Explain the difference between fixed and flexible budget in a paragraph – what are your concerns here? How can it affect your practice?)
  • Develop and display an Operating Budget (categories and totals only): Operating Monthly Budget  –  This is an example of categories: the  list is not all inclusive – you can add more categories 
  • INCOME:  This is your revenue source from 3rd party: Medicaid, Medicare or the insurance companies you are contracted with refund from insurance companies (what are you expecting? Based on your office fee and schedule
  • TOTAL INCOME
  • EXPENSES
    • Equipment
    • Insurance:
    • Supplies: 
    • Telephone
  • TOTAL EXPENSES
  • Income – Expenses:
  • GRAND TOTAL

 

A full discussion of each one below: Use each question as a HEADING:

  • Capital Needs/Long-term needs
  • Benefits Provided by the Practice (example – vacation – how many vacation/sick, physician & employees? life insurance, 401K? Company match? etc.) 
  • Physician salaries
  • Staff salaries/raises/bonuses/job performance 
  • Accounts Receivable Management

 

Submit paper by Day 7 – to the Week 4 Research Paper link under the Written Assignments area of the course.

 

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