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Governmental Budgeting Process of Agency (Hospital) Assignment Help

Develop a four to five page plagiarism free paper by using a local, state, or federal agency budget.

1. Analyze how and where revenues are derived for agency (hospital).

2. Analyze which revenues are used in which funds: governmental, proprietary,  and fiduciary. 

3. Evaluate how public policy decisions affect the receipt of revenues and possible restrictions that are or can be placed on revenues.

4. Analyze the economic conditions s that affect revenue projections. 

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Introduction:

The budgeting done by government is the process of valuation of receipts and expenditures. This is done on the balance sheet of public. The budgeting also acts as a legislative act which helps in establishment and authorisation of specific kinds of expenses for certain specific areas which is of public interest (Abelson, R. 2010). The mechanisms of financing should be observed as the means of achieving and sustaining health system which of fundamental nature and have goals to attain equality and improvement in the status of health. The budgets prepared by the government are of three types, namely, balanced budget, surplus budget and deficit budget.

1. Analysis of Revenues Derived For Agency (Hospital)

The funding of hospitals are among the essential part of reforms for many of the healthcare systems. Many governments of different countries have adopted various means for funding their health care systems, the common of all being the global budgets (Berger, S. 2008). The management of revenue cycle through clinical and administrative activities have resulted in increased revenue. The revenue generated by hospitals is through receipt towards medical services which constitutes the primary revenue generating source. The other sources of revenue is receipts from cafeteria within hospital, shops, pharmacies, parking lots, etc. Moreover, hospitals receives grants of research, donations and generates interest or gains from investments. The fact that should be noted is that hospitals collecting revenues in fast speed have record of high revenues stating no-trade off. Higher the mix of Medicaid payment have no collection with the speed of the same. There also exists a link between the revenue cycle management and the long term financial performance of the same. 

Revenue cycle management that is effective in nature helps in boosting the profitability of the not-for-profit hospitals (Cohn, R.A. and J.J. Pringle. 1980). This further helps in the measurement of the operating performance of the hospitals thereby improving the financial viability. Hospitals focus on the retention and acquisition of patients for the generation of hospital revenues. Private hospitals have much more opportunities of revenue generation as compared to government hospitals. The revenue generated from the agency (hospital) is used by the government for the betterment of the health care sector of the country by including it in the governmental budget.

2. Analysis of Revenues Used In Governmental, Proprietary and Fiduciary Funds

The amount taken by the governments and the non-profit organizations by the people is being used by them in different ways. The treatment of revenue by government is not with the intention of making profits (Danielson, J. and D. Fuller. 2007). The goal of the government is to have expenditure to be much closed to revenue for any year. If there is excess of revenue over expenditure then it is called surplus and in case there is excess of expenditure over revenue then it is called deficit. It is to be noted that having surplus does not means that government is having a profit, nor does having deficit means the government is at loss. In case, a government is having surplus, the steps are being taken by for reduction of tax burdens (D’Cruz, M.J. and T.L.Welter. 2008).  The revenues are being used by the government for the following funds:

- Governmental Funds: Under this type of funds, the government uses it for providing all those services whose expenditure cannot be met by the fees received on those services. 

- Proprietary Funds: These funds are used to have business type activities being accounted for. Under this, the services which are completely paid for as charges to the customer are being recorded.

- Fiduciary Funds: These are used for accounting of those funds that are being held in the interest of any third party. They are not government owned assets and are thus not reported in the financial statements of government. 

3. Evaluation of the Effect of Public Policy Decisions on the Receipt of Revenues and Possible Restrictions That Are or Can Be Placed On Revenues

The public sector constitutes that part of the economy which is being controlled directly by the government. The elemental services in the public sector includes healthcare services for the poor and the aged people (Kaiser Family Foundation. 2010). However, these services are subject to the process of annual budget being set by the government through management of its revenues and expenditures (Deloof, M. 2003). If there is any forced cuts as a result of any constraints in budget results in sacrifice of many of the social services. There are many obligations of the government which can be classified into two major groups, namely, discretionary and mandatory. There are certain levels being set of mandatory spending for many social programs including healthcare programs. Therefore, there is direct and powerful impact of the public policy decisions on the receipt of revenues including restrictions on those revenues. The restrictions are being imposed on revenue since the public interest at large is being involved in the public policy decisions including healthcare sectors (Lazaridis, I. and D. Tryfonidis. 2006). The public sector is required to address constituents that are numerous as well as diversified in nature. There are conflicting decisions on spending the revenue earned. There occurs different period where they revenue earned either cover all the expenses and sometimes it exceeds the expenses wherein in certain period they don’t. During constraint period, the government usually take decisions on its discretionary programs for paying, reducing or ending a particular program.

4. Analysis of the Economic Conditions Affecting Revenue Objections

The economic conditions have a direct effect on the revenue objections including both and private sector operating within an economy. The major consequences of the spending by the government on economic performance includes negative economic growth. The size of the government is of material and neither its deficit nor its financial means plays importance in the economic conditions. In countries where the burden of the government is reduced the same results in having positive economic conditions. All the factors that effects the revenue objections have to be identified and it further requires that the regulators and the government frames policies for sustaining the same. The key roles of the governmental budget are providing well-functioning legal and political system, regulatory role for providing market of competition, stimulating the economy by increasing government spending and also keeping economic inequality in check (Rauscher, S. and J.R.C. Wheeler. 2008).  The government also spends on necessary health care services to make the same available to all the citizens and all this is achieved through four subsections namely, hospital care, medical care, preventive care and other health services. 

Conclusion

The main purpose and advantage of the global budget is to have a control on the total aggregate spending for a particular program, healthcare institution or service. Budgets are made flexible so as to meet the dynamic economic situations and conditions. The analysis as to the ways of derived for agency hospitals and the allocation of the same to governmental, proprietary and fiduciary. The government making public policies and the decisions relating to the same have direct effects on the revenues of the government. The revenue projections have direct impact on the economic conditions and there are restrictions that can be placed directly on the revenue.

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