Guides the organization into the future by identifying the unique attributes of the organization why it exits and what it hopes to achieve
The process of identifying goals, objectives, tasks, activities, and resources necessary to carry out the strategic plan of the organization over the next time period, typically one year
Plans that identify an organizations short-term goals and objectives in detail, primarily in regard to marketing, production, control, and financing the organization
Activites that provide guidance and feedback to keep the organization within its budget once it has been approved and is being implemented
Budgeting and decision making that are done by relatively few people concentrated in the highest level of the organizational struture.
An approach to budgeting that continually questions both the need for existing programs and their level of funding, as well as the need for new programs
A method of budgeting that starts with an existing budget to plan future budgets.
A budget that accommodates a range or multiple levels of activities
A budget that uses a single or fixed level of activity
A multiyear budget that is updated more frequently than annually such as semiannually or quarterly
A budget that is forecast multiple years out, rather than just for the upcoming year
An extension of the program budget that also lays out performance objectives
Identifying an organization's mission, goals, and strategy to best position itself for the future
An extension of the line item budget that shows revenues and expenses by program or service
The least detailed budget, showing only revenues and expenses by category, such as labor or supplies
Comprises the revenue budget and the expense budget
The bottom line for this budget is net income
First budget to be prepared.
Identifies the amount of serviecs that will be provided, typically categorized by payor type
A forecast of the operating expenses that will be incurred during the current budget period
A subset of the operating budget that is forecast of the operating revenues that will be earned during the current budget period.
It displays all of the organizations projected cash inflows and outflows.
The bottom line for this budget is the amount of cash available at the end of the period
The amount that an organization bills its patients after accounting for discounts and allowances
The amount that an organization would bill its patients if they all paid full charges
Relative Value Units (RVUs)
A standardized weighting applied to services that reflects the amount of resource consumption to provide that service. A service assigned two RVUs consumes twice the resources as does a serivce assigened one RVU
Variable Labor Budget
A subset of the labor budget that forecasts nonsalary labor costs, such as part-time employees and overtime hours
Fixed labor Budget
A subset of the labor budget that forecasts the cost of salaried personnel
A subset of the epense budget, this budget is composed of the fixed labor budget and the variable labor budget
Variable supplies budget
A subset of the supplies budget that includes items that vary with volume
Fixed supplies budget
A subset of the supplies budget that covers items that do not vary with volume