Hospital Budget for HIM Department for the Fiscal Year 2016/2017
This document contains the Hospital budget for HIM department for the fiscal year 2016. It elaborates on the various expenses that would be incurred during this fiscal year with keen attention on the various precepts of the whole context financial forecasting for this department. The table below shows the estimates for each item for the department and a discussion follows to shade light on the projection.
|HOSPITAL BUDGET FOR EXPENSES FOR HIM DEPARTMENT|
|Estimated salary||$ 80,640|
|Education expenses||$ 24,541|
|Maintenance contracts and repairs||$ 28,500|
|Office supplies||$ 52,200|
|Professional dues||$ 145,231|
|Estimated travel||$ 5,800|
|other expenses||$ 49,902|
|Certification fees||$ 50,000|
|TOTAL BUDGET||$ 549,414|
|Estimated travel expenses|
|Air travel fee||$ 3,500|
|registration fee||$ 400|
|Membership and dues||$ 300|
|Total Estimated Travel expenses||$ 15,800|
|Total Annual food costs||$ 12,600|
|Other supplies||$ 37,200|
|Maintenance and repair||$ 28,500|
|labor: mail mgt logging in etc||$12@hour||$ 69,120|
|3 employees working 40 hours @week|
|additional overhead: customer service||$12@hour||$ 11,520|
|1 employee working 20 hours @week|
|Total salary||$ 80,640|
From the above budget, the total cost of operation for the department is deemed to be $ 299, 414 which entails various cost units. The employee salary is seen to have taken most of the budget which takes over $ 80,000 for the whole year. The education expense of $ 24, 541 comprises the expenses for training the staff on the new medical developments and the seminars being organized for the department staff. Additionally, we have the maintenance expense which sums up to $ 28,500 which entails the cost of repairing the equipments and the other machines of the office when they get damaged and needs service (Buerger, 2011). It also entails the expenses used in meeting the various contractual obligations of the department as far as the repairs are concern.
The budget for the food is deemed to be $12,600 which entails the food from Monday to Friday of each week and other events of the department. The office supplies of $ 52,000 mainly entail the purchase of books that are being used for recording various facts and details. The other office suppliers include the other stationery such as pens, clips, discussion boards, telephone billings and office files among others. As for the professional due of $ 45,321 it mainly goes to offset the obligations due to the professional service that have been outsourced outside the institution to come help the department in its activities (Shepard, Hodgkin, & Anthony, 2012).
The travel expenses of $5,800 entail the trip that is to be carried out later in the year. a closer look at the breakdown shows that air travel fee will take a bigger percentage of the expense of about $ 3,500. This notion is because the seminar will be attended by two persons who will use city to city flights to and from the seminar. On the account of the employee salary, the mainstream employee will be allowed to work 40 hours per week while the additional staff would use 20 hours in one week. The standard rte has been applied per hour for the two sets of employees. With the funding of this budget, the financial stability of the department will be deemed to be up to date (Pallarito, 2010).
Buerger, J. (2011). Preparing a Budget for the Small Hospital. Honors Theses, 199.
Pallarito, K. (2010). Hospitals may be overlooking opportunities to make the most of their cash, experts say. Modern healthcare, 20(43), 41-41.
Shepard, D. S., Hodgkin, D., & Anthony, Y. (2012). Analysis of hospital costs: a manual for managers. Geneva: World Health Organization, HSD Programme.