In most states, business registration information is found from the office of the secretary of state. As in the case of this business, the name of the business is Women Cancer Foundation which will be identified by all clients (Miller et al., 2006). The healthcare business also needs exceptional license or authentication which will comprise of an assessment of a background scrutiny on the partners or individuals operating the business. This will be followed by getting into contact with the insurance companies to acquire covers for liability and malpractice. There is no business that can operate or make service decisions without considering the insurance covers taken for the healthcare facility. The insurance and registration charges can be recognized in a budget as constant or fixed costs but can also be charged on a monthly or annual basis (Nah & Osifo-Dawodu, 2007). Another important aspect is the estimation of the probable revenue for the hospital. The source of revenue might include donations from international health non-governmental organizations, patient charges, insurance credits and tax reliefs. Before the services can be priced, all these revenues must be estimated to find the best fair price for the specific services. The policy makers must deduct a fraction of the bills to the patient that might not be collected, charity work anticipated by the health facility and the work it does. Moreover, the expected expenses must be figured out beginning with the visible facility. It must be determined the cost of setting up the structures, the maintenance costs of every department , the utilities and the costs of acquiring special equipment and the amount that will be used per day on each patient. In addition, the costs of maintaining some of the non-medical facilities must be determined which also include advertising g costs. However, care and due diligence must be excised to avoid passing all the costs to the patient with the main intention of accumulating profits. There are those cancer patients who cannot meet the costs of medication available given the state of economic recession that hits everyone within the nation (Nah & Osifo-Dawodu, 2007). There are factors to consider when planning and making essential decisions within the healthcare centre. It is required that the management must be familiar with the cost of staff. It must be noted that the staff and other employees who comprise of the consultants and contracts outsourced such as laundry and staffing of nursing need to be paid and given other allowances. The fringe benefits must be determined to ease out the process of budgeting. all the costs of beds, the number of hours worked for every staff and number of hours spent by patients on the beds must be determined inclusive of the costs of replacement of the beds must be factored in the budget and planning process (Wolper, 2004). Most importantly, the costs of expansion must also be factored in. The health care facility must plan as to whether their facilities might be renovated or new ones put in place. The potential benefits of the expansion must be considered to prevent erecting redundant structures. Thus the revenue must be estimated when doing a plan for the budget. This will also involve space for the parking garage, landscaping costs, window cleaning washing and grounds men. Besides, the funds set aside for emergency services must also be considered to enable the
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Planning and Budgeting for Women Cancer Foundation Student Institution 1. Important Factors to Consider When Making Pricing and Service Decisions During the process of budgeting and planning the healthcare facility has to ascertain that it has various factors put in place to be in a position to make appropriate pricing and servicing decisions…
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