NURS 6211: Finance and Economics in Healthcare Delivery
NURS 6211: Finance and Economics in Healthcare Delivery.
NURS 6211: Finance and Economics in Healthcare Delivery
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Order Paper NowDiscussion: Why Do Good Budgets Go Bad?
Budgeting and Variance Analysis
Instructions:
The following are budgeted and actual revenues and expenses for a hospital:
Budgeted Actual
Revenues
Surgical Volume
2,300 2,600
Gift Shop Revenues
$18,000 $19,000
Surgery Revenues
$589,500 $852,750
Parking Revenues $17,000 $19,000
Expenses
Patients Days 26,000 25,000
Pharmacy
$119,000 $158,000
Misc. Supplies
$68,000 $795,600
Fixed Overhead Costs $832,000 $890,000
In preparation of your Discussion post submission, complete the following:
1. Determine the total variance between the planned and actual budgets for
Surgical Volume. Is the variance favorable or unfavorable?
2. Determine the total variance between the planned and actual budgets for
Patient Days. Is the variance favorable or unfavorable?
3. Consider which variances are potentially due to change in volume and which
variances are potentially due to change in rates or other factors.
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NURS 6211: Finance and Economics in Healthcare Delivery
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