Healthcare budgetary allocations are some of the most important in any country. For this reason, significant care needs to be taken in order to ensure efficient allocation to important departments. Different changes in budget allocation like increase in revenue allocation are bound to impact the healthcare budget significantly. Further, the implications need to be addressed and adjusted in order to increase effectiveness and avoid a jamming in operation ( Bowling, 2002). The following paper discusses the different approaches to healthcare planning, funding sources and hospital inpatient and outpatient trends in planning for public healthcare and funds allocation in the United States.
Information technology is a significant way that funds resources can be created and in the same way used for future projections. In essence, the use of intelligently and efficiently linked weekly, monthly and multi-year budgeting models cannot be stressed enough. However, in order to properly utilize information technology, the following approaches are recommended: firstly is aligning methodology forecasts, multi-year plans with sufficiently detailed budgets. Clarity in budgeting ensures that proper forecasting can be done. Secondly, is embracing statistical models to help in hypothetical scenarios. ‘What if’ moments can be dealt with by using statistical models to forecast and show funding sources as well. Lastly is using cross-departmental initiatives to help in advising on out-patient and in-patient trends and how to properly allocate funds ( Finkler & Mchugh, 2008) . In essence, revenue allocation will be done by clear budgeting and significant statistical forecasts.
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In conclusion, the use of statistical and information technology software to project and allocate hospital funds is an effective way of using technology and statistical knowledge to show the impact of different budgetary allocations . In a very significant way also, it shows an increased effectiveness in healthcare.
References
Bowling, A. (2002). Research Methods in Health: Investigating health and health services.2 nd Edition. Open University Press: Philadelphia.
Finkler, S. A., & Mchugh, M. L. (2008). Budgeting concepts for nurse managers . St. Louis, Mo, Saunders/Elsevier.
