After exploration of the types of budgets and the processes for their development at your institution. How and from whom is input into the budgets acquired and used? Where does control of the budget lie? What influence do unit and midlevel managers have on the various kinds of budgets?

Solution:

According to Gatenby, Rees, Truss, Alfes, and Soane (2015), healthcare organizations consume a considerable proportion of the recurrent national health budgets and are the avenues for key interventions delivery. As such, it is important to have an understanding regarding the means by which the healthcare institutions set their budget priorities and the influencing factors to resource allocation. In my health institution, the budget makers include all level unit managers and financial controllers who have extensive knowledge in financial management and are responsible for planning all healthcare budgets to ensure that the facility runs in an effective and efficient approach. The leaders of healthcare finance are obliged to support the organizations by managing volatility, uncertainties and risks as financial planning is quickly evolving from function focused task to an integrated financial and operational planning that takes into account the whole…Please click the Paypal icon below to purchase full solution for only $5