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Planning and Budgeting for Women Cancer Foundation
Finance & Accounting
Pages 10 (2510 words)
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.
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. ...
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