Can I get a quote on this assignment please.
THE COLLEGE OF ST. SCHOLASTICA Duluth, Minnesota Department of Health Information Administration TO:Department Directors FROM:Robert Carlson Chief Financial Officer DATE:July 29, 2019 RE:Budget Preparation As we begin thinking of the 2019-2020 budget, the overall attitude must once again be of extraordinary cost awareness. The local economy of Duluth and the surrounding area is improving slightly. Tourism year-round is expanding in Duluth. We also expect continued emphasis on out-of-hospital activity to result in fewer inpatient admissions. The pressures to contain the rise in health care expenditures will continue. Our contracts with third-party payers fix payments at levels that continue to place cost-containment challenges before us. Department managers will have to conservatively develop their budgets, both operating and capital, recognizing that the hospital's financial situation is tight and the level of care to be provided must remain high. As the budget is prepared and implemented, be aware that a goal of each and every employee should continue to be that of making this hospital a financially strong organization. THE COLLEGE OF ST. SCHOLASTICA Duluth, Minnesota Department of Health Informatics and Information Management TO:All Department Heads FROM:Margaret Johnson, CMA DATE:July 29, 2019 RE:Budgeting Process The forms for presentation of your fiscal year 2020 (2019-2020) departmental budget requests are attached. You are being asked to budget for all general operating expenses, capital expenditures, and personnel expenses anticipated for the period of October 1 through September 30. Revenue Budget. The purpose of the Revenue Budget is forecasting revenue from non-patient activity. The budget should reflect any price or fee changes and volume change expected. Operating Budget. The purpose of the Operating Budget is forecasting all expenditures for office operations exclusive of personnel and major equipment needs. Much of this budget will be based upon last year's historical costs, but should be adjusted to reflect anticipated changes. Capital Budget. The purpose of the Capital Budget is forecasting all expenditures for major equipment. For our budget purpose a "capital item" is defined as any one item for equipment which exceeds $500 in cost and has a life expectancy of three years minimum. Personnel Budget. The purpose of the Personnel Budget is forecasting all expenditures for personnel compensation, i.e., wages, salaries, and fringe benefits. In calculating personnel compensation, a cost of living increase will be given to all employees effective October 1. This will amount to 4% of their base wage/salary. DO NOT budget for any other types of wage/salary increases at this time. Fringe benefits will be calculated at 22% of gross wages for hourly (clerical/technical) employees and 30% of gross salary for monthly (professional) employees. If you desire assistance in completing your budget calculations or desire additional information in completing your budget estimations, please feel free to contact Pam Peterson in Personnel, Larry Smith in Purchasing, or Margaret Johnson. Note:∙All figures entered into the budget forms should be rounded to the nearest whole dollar amount. BUDGETING SCHEDULE The schedule for budget completion and review is as follows: July Budget forms and instructions released to budgeting departments. August Complete budgets returned for review. SeptemberBudgets are revised and approved by Administration. September All budgets submitted for Finance Committee of Board of Trustees. September Budget presented for approval at Board of Trustees meeting. October Begin operating under approved budgets. BUDGET REPORTING Once the budget is completed and we begin operating in the budgeting period (October 1), we must have a follow-up procedure in order to determine if our budget projections are accurate. Only with a routine follow-up can we determine from time to time if our financial operation is proceeding as planned. Our budget follow-up procedure is outlined below: 1.After the end of each quarter, you will receive a financial report for your department containing the budgeted figures for each expense category and the actual expenditures for each expense category, as well as a column indicating the variance between the two. 2.Any expense category which has a negative variance of four percent or more will require that a written explanation of this variance be submitted to the Fiscal Manager with a copy to your immediate superior. Your budget will be marked to indicate which items require this explanation. INFORMATION ONLY CURE-ALL MEDICAL CENTER HEALTH INFORMATION SERVICES Planning Considerations for the 2019-2020 Budgeting Process Objectives: 1.To establish quarterly in-service educational program for the health information services department employees by January 1, at a cost not to exceed $ 200 per program/session. 2.To establish a Trauma Registry Program by January 1, at a cost not to exceed $50,000 this first budget year. NOTE: Fiscal year is October 1 – September 30 Regarding Objective 1: It is NOT anticipated that any additional personnel or equipment will be necessary to accomplish this objective. In-Service will be done utilizing rented video presentation, presentations by hospital personnel or presentations by invited outside speakers. Presentations by outside speakers will be funded at the level of $50/hour for honorarium and $.35/mileage per hospital policy. Regarding Objective 2: This will necessitate the hiring of a full-time position to function as registrar. S/He will need to be employed 3 months before the program goes into effect to allow for preliminary program development. It will be necessary to purchase a desk, two chairs, telephone set, PC and software to equip this new employees work area. · Projected salary - $30,000 · Benefits – 22% if hourly; 30% if salaried · Desk cost - $350 · Chair cost - $110 · Telephone set - $60 · PC - $1500 · Software - $3000 Other considerations: One of the PC workstations in the transcription area of your department is six years old and after constant use now requires replacement. You plan to replace it during this budget period. You are to project the following expenses for next budget year based on an analysis of your last year’s usage and on your expected changes during the year ∙A subscription to Medical Records Briefing - $185/year (Due 1/1) ∙A subscription to Topics in Health Information Management - $95/year (Due 4/1) ∙Obtain Health Information Management: A Strategic Resource - $85 ∙CPT (for new year) – 2 copies available March 1, $80 each Quantity Used Medical Record Forms Per YearPrice/Unit Discharge Summary1/discharge$20.00/500 History/Physical1/discharge$20.00/500 Operative Reports.5/discharge$20.00/500 Consultation Reports.3/discharge$20.00/500 General Office Supplies Pens, pencils, tape, clips, etc.$1000.00/yr Letterhead and envelopes5000 each $15.00/500-letterhead $10.00/500-envelopes Computer paper40 boxes$20.00/box Flash drives10 boxes$25.00/box Service/License Fees On Mobile file shelving service contract$500/yr (payable January 1) Encoder Software License$1500.00/yr (payable July 1) Reproduction/printing30 pgs x 60% of Medicare$.06/copy discharges & 20 pgs x 20% of non-Medicare discharges Telephone Service$10.00/month/employee$800.00 for long distance/ fax charges) Professional Development State Association Annual Mtg.Registration$350.00 (1 person)Travel 300 miles @ .32/miles=$96.00 Lodging $90.00/night x 2=$180.00 National Seminar/ WorkshopRegistration$250.00 Topic: TBD Travel $525.00 (Airfare- San Francisco) (1 person) Lodging $120.00/night x 2=$240.00 Coding SeminarRegistration$110.00/each (2 coders)Travel 300 miles @ .32/miles=$96.00 Lodging$60.00/each Revenue The only revenue the department generates is in the Release of Information area. Historical data indicates revenue can be projected at an average of $10.00 per record. The volume is estimated at 50% Medicare discharges and 20% non-Medicare discharges. THE COLLEGE OF ST. SCHOLASTICA Duluth, Minnesota Department of Health Informatics and Information Management CURE-ALL MEDICAL CENTER SUMMARY BUDGET REQUEST DEPARTMENT:Health Information ServiceFISCAL YEAR: 2019-2020 COST CENTER:12100 INSTRUCTIONS: Present the total figures from your Operating Budget, Capital Expenditure Budget and Personnel Budget requests on this summary sheet and attach this page as the top sheet on your budget package when you submit it to your administrative head. REVENUE TOTAL EXPENSES BY CLASS 01Supplies 02Services 03Other Expenses 04Capital Equipment 05Hourly Employees 06Professional Employees 07Fringe Benefits EXPENSE TOTAL PREPARED BY: DATE: page \* arabic5 CURE-ALL MEDICAL CENTER REVENUE BUDGET DEPARTMENT: Health Information ServiceFISCAL YEAR: 2019-2020 COST CENTER: 12100 INSTRUCTIONS: Provide an estimate of revenues expected by source. Attach an explanation of your method of calculation. Inpatient or outpatient service generated revenues do not get estimated on this document. Source of Revenue Per Unit Price Volume Estimate Total Revenue 1. 2. 3. 4. Grand Total Revenue Prepared by: Date: CURE-ALL MEDICAL CENTER OPERATING BUDGET REQUEST DEPARTMENT: Health Information Service FISCAL YEAR: 2019-2020 COST CENTER: 12100 01Supplies (Specify)Cost _______________________________ _________ ________________________________________ ________________________________________ ________________________________________Total:_________ (01) 02Services (Specify) _______________________________ _________ _______________________________ _________ _______________________________ _________ _______________________________ _________ Total:__________(02) 03Other Expenses (Specify) _______________________________ __________ _______________________________ __________ _______________________________ __________ _______________________________ __________ _______________________________ __________ Total:__________(03) CURE-ALL MEDICAL CENTER CAPITAL EXPENDITURE BUDGET REQUEST DEPARTMENT:Health Information Service FISCAL YEAR 2019-2020 COST CENTER: 12100 04. ITEM REQUESTED Estimated Cost Per UnitLine Total New OR Replacement Month Required Priority* Code Approval (Do not write here) Total: ________ (04) NOTE:1)A "Capital Item" is any item