Ways to Prepare the Best Budget Proposal
A capital budget helps in determining whether a long-term investment project in the healthcare is viable or not. Capital budget in the healthcare system is vital since the approval of the proposal will enable the healthcare providers to obtain the required facilities to provide good quality healthcare. The following are ways in which my manager would help me in preparing the capital budget proposal.
Listing the common elements in the capital budget proposal- The manager can help me by ensuring the core elements of the proposal is listed. The core elements include
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The owner of the project and management sponsor
The project timeline and the key milestone
The capital needs in the current and future years
Objectives and strategic goals for the project
The type of the project. That is, whether it is constructional or clinical.
Defining the yearly capital program for the subsequent fiscal year. - The proposal should have the budget as a continuing course of action, and expected projects can be moved further to the next financial year. Additionally, for a good capital budget proposal, I would compile evaluation notes throughout the year.
Defining the needs of my facility for the next three to five years- by carrying out facilities condition assessment, my manager can help me in identifying the facility needs. This will include the assessing the current conditions and the projection of remaining relevant (Eggleston & Shen, 2011). Facilities condition assessment will help in determining the viability of the project.
In conclusion, with the help of my manager, the steps highlighted above will help me ensure the capital budget proposal have met the various requirement that is needed to get approved.
Reference
Eggleston, K., & Shen, Y. (2011). Soft budget constraints and ownership: Empirical evidence from US hospitals. Economics Letters , 110 (1), 7-11.
