· Reflect on the expenses and revenues you considered in the Week 4 Assignment.
· Consider any other expenses that you have yet to account for in the development, launch, and implementation of the healthcare product or service you have proposed.
· Consult with your internal finance counselor to help identify and estimate any hidden expenses that may not be obvious.
The Assignment: Budget Development
Develop and analyze a budget for your proposed healthcare product or service. To do this, complete the following:
Part 1: Develop the Budget Worksheet:
Open your Excel Assignment Workbook and navigate to the “W6A4 Budget Development” worksheet.
· Using the Healthcare Budget Request Guide for guidance, create a 5-year budget for the healthcare product or service that records the projected expenses and revenues associated with the healthcare product or service you have proposed. Be sure to include startup and operating expenses in your budget. You may bring forward the work from the W4A3 Estimated Expenses assignment and add to it.
· Calculate the budget ratios as directed in the Healthcare Budget Request Guide.
NOTE: You will copy your worksheet and analysis onto the Healthcare Budget Request Template (Word document) for submission.
Part 2: Summary of Analysis and Interpretation of Results:
Create a brief (1- to 2-page) description of your budget and analysis that clearly describes the budget. Be sure to address the following:
· During the course of 5 years, is there an estimated surplus or deficit?
· What percentages of the budget are dedicated to various categories you have defined, such as startup costs, etc.?
· What does this budget mean for your organization?
Place your analysis on the Healthcare Budget Request Template under the section titled W6A4 Projected Budget (Five Year).
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