Prepare an 4-5 page capital budget for a major capital acquisition
Instructions: Prepare an 4-5 page capital budget for a major capital acquisition. In today’s health care environment, the focus on major purchases as part of the capital budget
Prepare an 4-5 page capital budget for a major capital acquisition.
Prepare an 4-5 page capital budget for a major capital acquisition.
Introduction
Note: Complete the assessments in this course in the order in which they are presented.
In today’s health care environment, the focus on major purchases, as part of the capital budget, has emphasized the need for newer and better technology.
Although the need to invest in capital equipment and technology has been
ongoing, the nursing workforce must also have a safe and pleasant work environment.
This assessment provides an opportunity for you develop a capital budget for a major facility improvement that will benefit patients, nurses, and the organization.
Most nurse leaders work with operating budgets, but will also have input into capital budgets.
A capital budget is typically developed separately from the operating budget and is usually developed to purchase items that are often referred to as big-ticket items that will enhance the capacity or services of an organization.
For example, capital budgets may cover land purchase for the future site of a new
outpatient surgical center, construction of a new building or build-out for renovation of an already existing building, or replacement of old equipment.
It is important to remember that health care is also a major business.
While for health care providers, patient care and safety are priorities, health care institutions must operate from a business model in order to survive financially.
As nurse leaders or executives, you often have a role to play in developing a capital
budget to improve care at some level.
In addition, a rapidly changing health care environment requires nurse leaders who
have the financial management and budgeting skills to ensure that large capital
expenditures further the mission and goals of the organization.
Note: Complete the assessments in this course in the order in which they are presente d.