Unit 1 ip healthcare organization financial fundamentals (2-3pgs) | HCM410 Fiscal Management in Healthcare Services | Colorado Technical University

2-3pgs 

As a member of the finance team, you have been asked to forecast the upcoming year’s operational budget for Krona Community Hospital. Click here ( I’ve attached the file) for last year’s budget. After reviewing specific data, internal input, and external input from various sources, you find that the executive management team would like the budget to reflect the following:

Please include refernece of the dollar amount from the 2022 budget.

10% increase in inpatient revenue
15% increase in outpatient revenue
5% increase in pharmacy revenue
15% increase in home health and hospital revenue
10% increase in payroll and benefits

Additionally, provide discussion on the following:

How do you think that revenue would increase in each of the areas? Think outside of the box, and perform research to determine current trends in those areas.
Why would there be a forecasted need to increase payroll and benefits?
Explain the role of key leadership in the budgeting process, from the chief executive officer down through to the staff level of a financial analyst.

The use of APA 7 style is expected. Students are required to reference at least 2 scholarly sources (within the last 4years) for this task.