Strategic plan and Proposes Criteria for Future Evaluation of Budget NURS FPX 6216 Assessment 2 Preparing and Managing an Operating Budget

The planning of the management is on the importance of increasing revenues as well as controlling operating expenses. The budget is supposed to reduce the cost of IT equipment and the new diagnostic tools. However, no consideration is given yet to future costs such as expansion plans. The company is focusing on associating its operating budget with the mission and vision of leaders and is strategically planning to change the financial dynamics. The mission also includes focusing on perpetual improvement of the existing financial resources to incorporate technological advancements. 

Improving the sustainability human assets, the firm is focusing on recruiting new nurses tech-savvy doctors. The strategy must also include the use of Electronic Medical Records (EMR) also advocated by researchers in the recent years after COVID-19 (Bryson & George, 2020). The evidence also shows that EMR use in emergency departments is also helpful in improving the performance of our nurses by 20%. Moreover, the focus must also be on shifting the dynamics of insurance payers including Medicare payments to generate more profits for the organization. 

For example, the firm must also focus on the price transparency of billing processes and should also allow patients to pay hassle-free. This strategy is also in line with the organization’s holistic mission to incorporate the right technology and relate it to reduce telephone bills. This strategy will help to improve the role clarity to make criteria for improving resources.

NURS FPX 6216 Assessment 2 Preparing and Managing an Operating Budget 

Moreover, one aspect is very important in improving the revenues and reducing expenses of the organizations. The team of nurses and researchers has found that other healthcare organizations have failed in the past. This is because they failed due to overestimating their revenues; our team identified that our competitors who have failed had borrowed additional or extra funds from parties to meet operational requirements. This was a wrong move and we have learned from it because it kills the real purpose of making a budget in the first place. Therefore, we have chosen to carefully examine the previous years’ revenues first and then considered these records to make reasonable decisions. We have tracked revenues on a monthly and yearly basis (Ho, 2018). And this approach will still be applied in the future. 

Approach for Ongoing Budget Management

NURS FPX 6216 Assessment 2 Preparing and Managing an Operating Budget

There are a few complex things management has discovered related to strategy planning of this operating b