NURS FPX 6216 45-bed Medical-Surgical Unit Operating Budget FY 2022-2023
45-bed Medical-Surgical Unit Operating Budget FY 2022-2023
| 2022 Budget | 2023 Budget Plan | |
| Operating Revenue | ||
| Inpatient Revenue | $4,000,000 | $5,200,000 |
| Total Revenue | 44,000,000 | $5,200,000 |
| Operating Expenses | ||
| Equipment and Fixtures | $2,110,000 | $2,920,000 |
| Salaries and Wages | $457,500 | $585,000 |
| Employees Benefits | $267,000 | $310,000 |
| Supplies | $20,000 | $25,000 |
| Purchased Services | $145,000 | $195,000 |
| Insurance | $20,000 | $25,000 |
| Licenses | $15,000 | $20,000 |
| Taxes | $3,000 | $3,000 |
| Other Direct Expenses | $290,000 | $300,000 |
| Total Operating Expenses | $3,2112,500 | $4,868,000 |
| Net Operating Expenses | $3,2112,500 | $4,868,000 |
| Net Operating Revenues or Expenses | $897,500 | $972,000 |
Design and Creation of a Budget
Planning and data evaluation are the first steps in creating the nursing unit’s operating budget. The information received will be used to predict the upcoming budget’s anticipated revenue and expenses. One of the essential steps in budget planning is gathering reliable data. In the end, the finance division gathers the information and works with the nurse manager to develop the budget (Mujtahid et al., 2021). The information gathered covers existing services, potential future services, case mix, payer mix, patient acuity, and patient hours per day. These forecasts are based on historical data from the prior year, including patient days, the average length of stay, nursing hours per patient, and overtime.
