NURS 6211: Expense Forecasting-Benchmarking

Get NURS 6211: Expense Forecasting-Benchmarking essay assignment help

NURS 6211 Week 9: Expense Forecasting and Benchmarking essay assignment

NURS 6211: Finance and Economics in Health Care Delivery | Week 9 essay assignment

Think about your own life and how you make decisions on where to go for your next vacation. First you have to consider the level of funds you can have available for the trip. Will you use savings? Credit cards? Based on that number, you can begin to narrow down possible choices. Once you decide a location, you must plan for your spending priorities. Do you want to stay in a nicer hotel and cut down on your food budget? Is there a certain museum or art gallery you must have on your itinerary? What if you suddenly receive a phone call from a good friend inviting you to come to his wedding? How would this impact what funds you might have available for your future travel plans?

NURS 6211: Expense Forecasting-Benchmarking essay assigment

The ability to make and use financial forecasts also holds true for running a health care organization. Expense forecasting is a technique that allows you to predict where you, as an organization, are going financially—and thus be better prepared to meet challenges and take advantage of opportunities that might arise. Tools are available to develop expense forecasting for short- and long-term financial needs.

This week, you will also examine the value of comparing your organization to other similar organizations. Also known as benchmarking, this allows you to evaluate how well you are performing in key indicators. There are, however, certain risks involved especially if you compare your organization to another that is not actually comparable.

As you focus on benchmarking, you will consider how to select organizations that are comparable to your own and what measures to use for comparison. You will also be introduced to process analysis and you will examine the three main types: process flow analysis, value stream mapping, and brown paper analysis.

This week, you explore the development and use of expense forecasting and benchmarking as a financial decision making tool for health care professionals.

Learning Objectives

Students will:

  • Apply expense forecast to budget recommendations
  • Analyze the impact of expense forecasts on decision making
  • Apply benchmarking to organizations
  • Analyze benefits and risks of benchmarking

In order to be competitive in health care markets, organizations must ensure that the services they provide are consistent in pricing and quality with other comparable organizations. In this Discussion, you will examine how the process of benchmarking, or comparing organizations, is important in financial decision making.

To prepare:

  • Review the information on benchmarking found in this week’s Learning Resources.
  • Search the Walden Library or other reliable resources on the Internet and locate a journal article discussing how a health care organization has used the principle of benchmarking.
  • How could the concept of benchmarking be used in your own organization (or one with which you are familiar), regardless of size?
  • Consider how benchmarking could be useful to you in decision making.
  • Analyze the potential risks of making a faulty comparison.

By Day 3

Post a summary of the article you found (including the APA reference) and explain how it informed your understanding of benchmarking. Discuss how benchmarking could be used for financial decision making in your own organization (or one with which you are familiar). Also analyze the potential risks of making comparisons with an organization that is not a credible match with your own.

Read a selection of your colleagues’ responses.

NURS 6211 Week 9: Expense Forecasting and Benchmarking essay assignment

By Day 6

Respond to at least two of your colleagues on two different days. Comment on a colleague with different options than your own. Describe what you like about their options and if you agree with their rankings. Justify your answers.

My homework writers
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Reviews

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Reviews

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.