About This Chapter
Healthcare Planning & Budgeting - Chapter Summary
This chapter's comprehensive overview of healthcare planning and budgeting can help you grasp the basics of operating budgets, capital budgeting, business forecasting and more. Reviewing our fun lessons can also help you understand financial policy and differences between strategic and operational business plans. Enjoy access to this chapter any time via your computer or mobile device. If you want to check your understanding of key concepts covered in the lessons, be sure to take our mini quizzes and chapter exam. Questions that arise during your review of this chapter can be submitted to our experts via the Dashboard. Upon completion, you will be able to:
- Define and share examples of strategic plans in business
- List types and examples of operational plans for a business
- Share the definition and examples of an operating budget
- Discuss methods of business forecasting
- Provide the definition of variances in budgets
- Outline techniques for capital budgeting
- Identify and discuss types and examples of capital projects in healthcare
- Exhibit knowledge of financial policy and the cost of capital
- Differentiate between debt capital and equity capital
1. What Are Strategic Plans in Business? - Definition & Examples
Strategic planning is the process of outlining a long-term vision for a company. Learn about the role of strategic planning in business, see its application, and take a quiz on what you've learned.
2. What Are Operational Plans for a Business? - Definition, Types & Examples
In this lesson, you will learn about the purposes and content of operational plans. We also will define their place within the overall management planning process.
3. What Is an Operating Budget? - Definition & Examples
Creating a budget helps us plan what bills and expenses need to be paid and gives us excitement when there is some left over to splurge with. In this lesson we will learn about a different kind of budget known as an operating budget.
4. Business Forecasting: Methods & Analysis
Businesses create financial forecasts for a number of variables, such as sales volume. In this lesson, you'll learn about the qualitative and quantitative methods used to prepare forecasts.
5. Variances in Budgets: Definition, Calculations & Analysis
What are variances in budgets, and why do we calculate them? In this lesson, we discuss what they are, why we care about them, and how to analyze variances in our own reports to obtain information we can use to improve our results.
6. What Is Capital Budgeting? - Techniques, Analysis & Examples
Capital budgeting is important to the growth and development of a business. In this lesson, you will learn what capital budgeting is, why it is important, and how it is used.
7. Capital Projects in Healthcare: Types & Examples
Often, projects related to improving healthcare involve a fair amount of capital investment. This lesson discusses different kinds of capital projects in healthcare, offering examples different kinds of projects.
8. Financial Policy & the Cost of Capital
In this lesson, we'll be learning about financial policy and the cost of capital. A financial policy is very important to any company, and it helps to drive the decisions alongside the cost of capital.
9. Debt Capital Vs Equity Capital
Sufficient capital is essential for starting, maintaining and growing a business. In this lesson, you'll learn how a corporation can raise capital through equity and debt. You'll also learn about the advantages and disadvantages of each approach.
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Other chapters within the Health 305: Healthcare Finance & Budgeting course
- Introduction to Healthcare Finance
- Organizational Structure in Healthcare
- Healthcare Organizations & Services
- Financial Reporting in Healthcare
- Health Insurance & Reimbursement
- Estimating Healthcare Costs
- Healthcare Financial Management
- Accounting & Income Statements in Healthcare
- Using Balance Sheets in Healthcare Finance
- Financial Assessment in Healthcare
- Project Costs & Evaluation in Healthcare
- Healthcare Staffing Needs & Forecasting
- Trends in Healthcare
- Required Assignment for Health 305