Finance For Health Care and The Impact of Financial and Strategic Planning .
Answer the following questions within a word limit of 1200 words:
Outcomes are :
Q1: Describe the key components of a financial plan
Q2: Define financial and strategic planning
Q3: Explain the difference between a simple budget and a flexible budget
Q4: Describe the use of variance analysis in the budget creation process
Outcome assessed/addressed :
Q: Explain the methodologies and processes used in preparing budgets for health care organizations.
Finance For Health Care ASSIGNMENT:
Bayside Memorial Hospital is considering purchasing a new MRI machine.
1. Based on the cash flow analysis on the attached doc. file below would you recommend that the healthcare facility, Bayside Memorial Hospital, purchase an MRI machine?
2. In your analysis please review the following concepts: incremental cash flow, sunk cost, opportunity cost, strategic value, inflation effects. (These are the assignment instructions, allowing students to master the key components of the rubric including :
a. Describe the key components of a financial plan define financial and strategic planning;
b. explain the difference between a simple budget and a flexible budget;
c. and describe the use of variance analysis in the budget creation process
Requirements
1. reply to the questions should be written in a clear, detailed manner and observe the conventions of Standard American English (correct grammar, punctuation, etc.).
2. Follow APA formatting for the title and reference page, as well as APA formatting within the paper itself (Times New Roman 12-point font and properly double spaced).
3. page limit is 2 pages or 600 words.
4. page limit is 4 pages or 1200 words.
5. Information should be summarized in your own words with appropriate APA formatting and citation style of in-text citations in the body of the text to acknowledge the source(s) of information.
6. Include at least one reference. The course textbook may count towards the reference requirement for this Assignment. All references will follow APA format.
7. Follow the conventions of Standard American English (correct grammar, sentence structure, punctuation, etc.).
8. Your work must display superior content, organization, style, and mechanics.
9. For additional support, utilize the Kaplan Writing Center and review the document entitled, “Writing Center Resources,” found in Doc sharing.