W2A2 Healthcare Budget Request and Workbook Template

Throughout this course, you will develop a comprehensive Healthcare Budget Request to promote commitment from leadership to your idea for a healthcare product or service to address gaps or provide opportunities to your organization. For this Assignment, you will begin this effort by developing an executive summary for the proposal. You will also begin work on a spreadsheet workbook that you will utilize to calculate and present financial analysis in support of your idea.

Resources

Be sure to review the Learning Resources before completing this activity.
Click the weekly resources link to access the resources.

WEEKLY RESOURCES
Learning Resources
Required Readings
Knighten, M. L., & Waxman, K. (2024). Penner’s economics and financial management for nurses and nurse leaders  (4th ed.). Springer Publishing Company.

Chapter 10, “Building a Business Case” (pp. 249–279)
Chapter 11, “Grant Writing for Healthcare Programs” (pp. 304–359)

Chisengantambu-Winters, C., Robinson, G. M., & Evans, N. (2019). Developing a decision-making dependency (DMD) model for nurse managersLinks to an external site.. Heliyon, 6(1), e03128. https://doi.org/10.1016/j.heliyon.2019.e03128

Waxman, K.T., & Massarweh, L. (2018). Talking the talk: Financial skills for nurse leadersLinks to an external site.. Nurse Leader, 16 (2), 101–106. doi:10.1016/j.mnl.2017.12.008

Document: Excel Assignment Workbook (Spreadsheet)Download Excel Assignment Workbook (Spreadsheet)

Document: Healthcare Budget Request Template (Word document)Download Healthcare Budget Request Template (Word document)

Document: Healthcare Budget Request Guide (Word document)Download Healthcare Budget Request Guide (Word document)
Required Media
Grant Writing: What Foundations Look For

Meet three grant experts who help fund healthcare projects in their communities. Consider the importance of grant writing and soliciting potential partnerships for budget proposals and requests to fund projects in your healthcare organization. (16m)

Optional Resources
Walden University. (2023). Common assignments: Executive summariesLinks to an external site.. OASIS: Writing Center. https://academicguides.waldenu.edu/writingcenter/assignments/executivesummaries#s-lg-box-12881168

To Prepare
Reflect on current gaps or opportunities for enhanced services within your healthcare organization.
Select one of these gaps or opportunities that you would like to analyze and for which you would like to propose a healthcare product or service solution.
Choose your product or service carefully as it needs to meet three distinct parameters for use in this course. It must have a capital investment (start-up costs) and there must be annual cost and revenue that you can estimate for each of 5 years. An example is a capital equipment purchase that is a direct charge to the patient such as a 12-lead EKG. There would be start-up cost for the purchase of the equipment in Year 0. Then each use requires some disposable electrodes and staff to perform the procedure. Revenue is based on the patient charge.
Reflect on the impact this issue/opportunity and product/service solution have (or could have) on various stakeholders and systems across your healthcare organization.
Identify one or more individuals within your healthcare organization to act as “finance counselor” with whom you can consult on financial and budget items such as costing, estimating, and budget request processes.
Reflect on the current costs associated with the selected issue or opportunity, including direct financial costs to the organization and financial costs to patients, healthcare providers, and other stakeholders. Also consider non-financial costs, including opportunity costs.
Consider how you would communicate a proposal to leadership that addresses the selected issue/opportunity within your organization.
The Assignment: Healthcare Budget Request – Executive Summary:
Develop an executive summary and structure for a healthcare budget request for your new product or service idea by completing the following:

Part 1: Executive Summary

Using the Healthcare Budget Request Template, develop a 1- to 2-page executive summary that describes the issue or opportunity that you are analyzing. In your executive summary, you should:

Describe the healthcare issue or opportunity you selected.
Describe the stakeholder groups impacted by this issue/opportunity.
Explain which stakeholder groups would most likely be responsible for helping you address the healthcare issue or opportunity you selected and why. Be specific and provide examples.
Describe the healthcare product or service that you propose to address the identified gaps/opportunities and explain why.
Provide scholarly support for the issue or opportunity and your new product or service idea.
Part 2: Excel Assignment Workbook

As you progress through this course on the development of a Healthcare Budget Request, you will apply financial ratios and other calculations to make the business case for your idea. In this component of the assignment, you will customize a spreadsheet workbook and prepare it for use in your analysis. To do this, you will:

Review the Healthcare Budget Request Guide found in the Resources. Open the Excel Assignment Workbook; follow the instructions in the guide, which will help you:
Create a template that you will use for future analysis you will conduct in subsequent parts of your Healthcare Budget Request.
Format your spreadsheet for presentation of results.
Save and close the spreadsheet file.
Submit both Part 1 and Part 2 of your Assignment by Day 7 of Week 2.

*NOTE: You will need to submit both a Word Document and an Excel Spreadsheet for your Assignment submission. Please be sure to only submit your Assignment once you have uploaded these two components of your W2A2 Assignment.

submission information
Before submitting your final assignment, you can check your draft for authenticity. To check your draft, access the Turnitin Drafts from the Start Here area.

To submit your completed assignment, save your Assignment as W2Assgn_LastName_Firstinitial
Then, click on Start Assignment near the top of the page.
Next, click on Upload File and select Submit Assignment for review.

Rubric
NURS_6211_Week2_Assignment_Rubric