Understanding budgeting goals, processes, and incentives are vital skills for health care managers as they are responsible for creating budgets and managing their departments within the established budget. However, many health care managers lack these basic skills. This book is a comprehensive examination of budgeting practices designed to provide students with the ability to construct budgets and analyze differences between actual financial results and the budget. Each chapter takes the reader through a step-by-step process to analyze systems, incorporate organizational goals into budgets, identify performance issues, and explore how budget systems impact behavior.
Author(s): Thomas K. Ross
Publisher: Jones & Bartlett Learning
Year: 2019
Language: English
Pages: 556
City: Burlington, MA
A Comprehensive Guide To Budgeting: For Health Care Managers
Copyright
Dedication
Contents
About the Author
Reviewers
Preface
PART 1 The Foundation and Practice of Budgeting and Financial Management
Chapter 1 Financial Planning and Management
Introduction
Perceptions on Budgeting and Budgeting Perspectives
Strategic Planning, Operations, and Budgeting
The Budgeting Process
Systems and Budgets
Evaluating Performance
The Benefits of Budgeting
Chapter 2 Accounting and Economics
Introduction
Budget Scope
The Accounting Foundation
Economics and Marginal Decision-Making
Organizational Architecture
Chapter 3 Budget Incentives and Strategies
Introduction
The Flow of Funds in Market and Nonmarket Exchanges
Budget Participants and Roles
A Budget Construction Calendar and Overlapping Budget Cycles
Budget Strategy
What a Budget Is and What It Is Not
PART 2 Budgeting Construction
Chapter 4 Output Forecasts and Revenue Budgets
Introduction
Estimating Output
Chapter 5 Scratch Budgeting
Introduction
Assembling an Expense Budget: Manufacturing Table Lamps
Estimating Expenses for a New Physician Practice
The Master Budget
Breakeven Analysis
Chapter 6 Incremental Budgeting
Introduction
The Incremental Budgeting Process
Building an Incremental Budget
Evaluating Performance
An Example of Incremental Budgeting: The Medicare Trust Funds
Chapter 7 Flexible Budgeting
Introduction
The Flexible Budgeting Process
Restating the Budget for Actual Output
Combining Flexible and Incremental Budgets
Evaluating Performance
An Example of Flexible Budgeting: Medicare Expenditures per Beneficiary
Chapter 8 Zero-Base Budgeting
Introduction
Zero-Base Budgeting
Variations on Zero-Base Budgeting
Evaluating Performance
An Example of Zero-Base Budgeting: Medicare Part A
Chapter 9 Program Budgeting
Introduction
Program Budgeting
Evaluating Performance
An Example of Program Budgeting: Medicare Part A
Chapter 10 Activity-Based Budgeting
Introduction
Activity-Based Costing
Activity-Based Budgeting
Activity-Based Costing Case Studies
Recap and Summary of Budgeting Systems
PART 3 Financial Management Tools
Chapter 11 Variance Analysis
Introduction
Cost and Volume Variances
Efficiency, Intensity, and Price Variances
Identifying Variances to Examine
Year-End Retrospective Evaluation
Chapter 12 Ratio Analysis and Operating Indicators
Introduction
Ratio Analysis
Operating Indicators
Benchmarking
Chapter 13 Capital Budgeting
Introduction
Time Value of Money
Capital Budgeting
Postexpenditure Review
Nonfinancial Capital Budgeting Criteria
Chapter 14 Cost–Benefit Analysis, Cost-Effectiveness Analysis, and Program Evaluation
Introduction
Cost–Benefit Analysis
Cost-Effectiveness Analysis
Program Evaluation
PART 4 Financial Functions for Finance and Planners
Chapter 15 Financial Functions in Finance
Introduction
Financial Reporting
Capital Structure and Financial Leverage
Working Capital Management
Contract and Financial Risk Management
Chapter 16 Strategic Financial Planning
Introduction
Strategic Management
Strategic Financial Planning
Long Range Forecasting: Medicare 2090
Chapter 17 Financial Management and Care
Introduction
Bringing It All Together
Building a Budget
The Financial Role of a Manager
Financial Management and the Future of Health Care
Glossary
Index
