TO PREPARE

· Reflect on current gaps or opportunities for enhanced services within your healthcare organization.

· Select one of these gaps or opportunities that you would like to analyze and for which you would like to propose a healthcare product or service solution. Choose your product or service carefully as it needs to meet three distinct parameters for use in this course. It must have a capital investment ( start-up costs) and there must be annual cost and revenue that you can estimate for each of 5 years. An example is a capital equipment purchase that is a direct charge to the patient such as a 12-lead EKG. There would be start-up cost for the purchase of the equipment in Year 0. Then each use requires some disposable electrodes and staff to perform the procedure. Revenue is based on the patient charge.

· Reflect on the impact this issue/opportunity and product/service solution have (or could have) on various stakeholders and systems across your healthcare organization.

· Identify one or more individuals within your healthcare organization to act as “finance counselor” with whom you can consult on financial and budget items such as costing, estimating, and budget request processes.

· Reflect on the current costs associated with the selected issue or opportunity, including direct financial costs to the organization and financial costs to patients, healthcare providers, and other stakeholders. Also consider non-financial costs, including opportunity costs.

· Consider how you would communicate a proposal to leadership that addresses the selected issue/opportunity within your organization.

THE ASSIGNMENT: HEALTHCARE BUDGET REQUEST – EXECUTIVE SUMMARY:

Develop an executive summary and structure for a healthcare budget request for your new product or service idea by completing the following:

Part 1: Executive Summary

Using the Healthcare Budget Request Template, develop a 1- to 2-page executive summary that describes the issue or opportunity that you are analyzing. In your executive summary, you should:

· Describe the healthcare issue or opportunity you selected.

· Describe the stakeholder groups impacted by this issue/opportunity.

· Explain which stakeholder groups would most likely be responsible for helping you address the healthcare issue or opportunity you selected and why. Be specific and provide examples.

· Describe the healthcare product or service that you propose to address the identified gaps/opportunities and explain why.

· Provide scholarly support for the issue or opportunity and your new product or service idea.

Part 2: Excel Assignment Workbook

As you progress through this course on the development of a Healthcare Budget Request, you will apply financial ratios and other calculations to make the business case for your idea. In this component of the assignment, you will customize a spreadsheet workbook and prepare it for use in your analysis. To do this, you will:

· Review the Healthcare Budget Request Guide found in the Resources. Open the Excel Assignment Workbook; follow the instructions in the guide, which will help you:

· Create a template that you will use for future analysis you will conduct in subsequent parts of your Healthcare Budget Request.

· Format your spreadsheet for presentation of results.

· Save and close the spreadsheet file.

Submit both Part 1 and Part 2 of your Assignment by Day 7 of Week 2.

*NOTE: You will need to submit both a Word Document and an Excel Spreadsheet for your Assignment submission. Please be sure to only submit your Assignment once you have uploaded these two components of your W2A2 Assignment.

Struggling with where to start this assignment? Follow this guide to tackle your assignment easily!

This assignment has two major parts: (1) the written Executive Summary and (2) the Excel Assignment Workbook. Here’s how you should structure and approach it:

Part 1: Executive Summary (Word Document, 1–2 pages)

Step 1: Choose your healthcare issue/opportunity

Reflect on gaps in your healthcare organization (e.g., outdated equipment, lack of diagnostic tools, slow patient processing, missed services).
Pick one that meets the requirements:
- Requires a capital investment (equipment, new service, or system).
- Has annual costs and revenue estimates for at least 5 years.
- Directly impacts patient care.

Example: Purchase of a new ultrasound machine or expanding telehealth services.

Step 2: Write the Executive Summary

Organize your paper into clear sections:

Introduction (1 paragraph)
- Briefly introduce the issue/opportunity.
- State why it matters (e.g., improving efficiency, patient safety, or revenue growth).
Description of Issue/Opportunity
- Explain the gap in current services (what’s missing or failing).
- Provide brief background/context.
Stakeholder Groups Impacted
- Identify who is affected: patients, providers, administrators, finance, payers, etc.
- Note both direct and indirect impacts.
Stakeholders Responsible for Addressing the Issue
- Highlight key groups (e.g., CFO for budget, nurses for workflow, IT for implementation).
- Explain why they are central to solving this problem.
Proposed Product/Service Solution
- Describe your solution (equipment, new service, digital tool).
- Explain how it solves the gap.
- Tie it to patient outcomes and organizational efficiency.
Scholarly Support
- Use at least 1–2 peer-reviewed references (APA format) to support your proposal.
- Example: Cite evidence that diagnostic equipment reduces errors or that telehealth expands access.

Part 2: Excel Assignment Workbook

Step 1: Download the Healthcare Budget Request Guide & Workbook

Open the Excel template provided in your course.
Follow the formatting instructions in the guide.

Step 2: Customize Your Workbook

Add your proposed product/service name (e.g., “12-lead EKG Expansion”).
Create columns for:
- Year 0: Start-up/Capital Costs
- Years 1–5: Annual Revenue, Annual Operating Costs, Net Revenue

Step 3: Format for Presentation

Apply clean formatting: bold headers, currency formatting, consistent decimal places.
Prepare for later use (financial ratios, ROI, etc. will come in future assignments).

Step 4: Save and Attach

Save the Excel file separately with your name.
Submit both Word and Excel files together as instructed.

Checklist Before Submission

Executive Summary is 1–2 pages and addresses all five required prompts.
APA in-text citations and reference page included.
Excel workbook formatted, labeled, and saved properly.
Both files uploaded in the same submission.

Helpful Resources

APA Formatting Guide (Purdue OWL)
NIST Healthcare Risk Management Resources
Sample Budget Proposals in Healthcare

Remember! It’s just a sample. Our professional writers will write a unique paper for you.

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HEALTHCARE BUDGET REQUEST AND WORKBOOK TEMPLATE