Budgeting in Healthcare

  • Sentinel City ® 3.0 is an online, fully integrated, immersive digital simulation platform. It utilizes digital technology to provide an immersive experience that fosters student learning.

You will be able to gain access into Sentinel City via BlackBoard™. Please ensure your computer meets the technical standards for using Sentinel City. The platform is best accessed using Google Chrome for Windows and Safari for Mac users. Please refer to the Sentinel City: Online Interactive Student Guide under the “Sentinel City” tab in this course for more details regarding using the software.

Once you gain access to Sentinel City, follow the orientation modules. Then, navigate around the city on the bus. During the tour, observe the makeup of the various populations within the neighborhoods of Sentinel City. After completing your complete tour of the city, exit the bus in the Industrial Heights district of Sentinel City.

Well-managed healthcare organizations have a “master budget”. The master budget is a set of all the major budgets to assist in financially managing the organization. The master budget generally includes the operating budget, a long-range budget, program budgets, a capital budget, a cash budget, and at times a service-line budget and a special purpose budget. Construct a budgeting and forecasting essay incorporating the following information:

  • Define and describe the different types of budgets used in healthcare finance. Be sure to provide the type of information that each of the budgets can provide to a nurse leader at either the unit/department level or for the organization globally.
  • Define the forecasting technique applied to healthcare finance.
  • Analyze the interface between budgeting and forecasting.
  • Using the demographics data for the Industrial Heights neighborhood, identify the primary and secondary ethnicity, the median household income, the percentage of persons without health insurance under age 65, and the number of children under age 18. Using your critical thinking skills and the information learned thus far, what would you predict to be the healthcare needs of this population?

Continue your bus tour and visit the Interfaith Church of Sentinel City, a soup kitchen, and review the population served.

  • Identify and discuss the demographics of clients served by the Interfaith Church soup kitchen, and list and discuss what their specific healthcare needs may be.
  • Next, visit the Better Health Clinic down the block from the Interfaith Church, and identify the services provided by the clinic. Compare your identified healthcare need for the population and forecast the budgetary needs for the clinic.
  • As a nurse leader, you have been tasked with forecasting the budget requirements for Better Health Clinic for next year. Review the services provided by the Better Health Clinic and forecast which services may require the greatest monetary resources based on the information you obtained from the demographics data for Industrial Heights.
  • Review the diagnosed sexually transmitted disease data and the teen pregnancy, birth and abortion data to help guide your budget decisions. Review the data presented on pregnancy, birth and abortion rate. Identify the trend year-over-year. How would the health of this neighborhood’s population impact the resources needed by the Better Health Clinic to adequately serve this group of people?
  • Discuss how seasonality events and healthcare market shifts can affect the budget forecasting process?
  • Take the Sentinel City bus to the Nightingale Square district of Sentinel City. Review and list the demographics data for Nightingale Square and identify the primary and secondary ethnic groups, median household income, percentage of persons under age 65 without health insurance, and the percent of children under age 18.
  • Enter the Department of Public Health and review the Adult Immunization data. Compare and contrast how the Nightingale Square district differs from the Industrial Heights district. How would your forecast for a Nightingale Square health clinic differ from your budget forecast for the Better Health Clinic in Industrial Heights? Why would the budgetary needs differ?
  • As a nurse leader, how would you plan for seasonality events based on market demographic shifts?
  • Your essay must be supported with evidence-based research articles.
  • Your assignment must follow these formatting requirements: 
  • Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides (APA format).

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