The management of the hospital needs to initiate healthcare equipment and innovative technologies in the system to carry out the procedures smoothly. The integration of innovative technologies will reduce the workload of the nursing staff and will enhance their productivity. Additionally, the adoption of innovative technologies tends to increase the proficiency of the employee’s performance outcomes, and make the tasks less complicated. However, if the existing equipment is in better condition and upgradation is not needed, then instead of spending on the new technologies, the management should focus on maintaining the equipment, to minimize the budget cost as well. So, an annual revenue of $700,000 will be the total budgeted revenue, which will be generated from the patient revenue and funding, while on the other hand, $655,000 will be the total budgeted expense for rent, medical supplies, office equipment, etc.
NURS FPX 6216 Assessment 3 Budget Negotiations and Communication
The vision of the organization is to reduce the employee turnover rate by initiating innovative technologies and training programs to motivate employees. The proposed operational budget’s aim of managing and coordinating the budget revenue and budget expenses aligns with the organizational plan and goal. Strategic budget planning increases the chances of accomplishing organizational goals efficiently. However, uncertainties are always there, so the nurse leader must design the budgeting plan in a way to overcome the risk analysis factors. After analyzing the organizational management, nurse turnover was considered an uprising concern, that was affecting the organization’s outcome, so there is a need to choose an effective nurse leader who can reduce the staff turnover with his capabilities of motivating and training them. An effective leader plays a key role in motivating employees (Stuber et al., 2020). Therefore, it will help the Villa Health Hospital in measuring its vision by motivating existing employees and hiring new healthcare workers by adhering to the proposed budget.
NURS FPX 6216 Assessment 3 Budget Negotiations and Communication
To attain an effective healthcare system, it is important to utilize the healthcare resources in the best possible way to meet the desired outcomes in the coming future. Most healthcare systems fail to perform well, because of a lack of resource management. Effective resource allocation is the key element in enhancing the organization’s performance and requires effective financial management. Strategic budget planning increases the chances of accomplishing organizational goals efficiently. There is a need to choose an effective nurse leader who can reduce staff turnover with his capabilities of motivating and training them.
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