Budgeting

For this budgeting activity, you will complete two parts related to budgeting. Please read the directions closely to make sure you understand the requirements.

Part I:

For this portion, you will be reviewing the budget case scenario and filling in the projected 2022 budget in the spreadsheet provided.

Case study:

You are the HIM Manager for a University Hospital. You have to develop the budget for 2022 based on the 2021 budget, and the changes you know will occur. The fiscal year for the University Hospital is from January to December.

Items to consider when updating the 2022 budget:

· Exempt employees (Management) will be given a 3% increase on January 1, 2022

· Non-exempt employees will be given a 2.5% increase on January 1, 2022

· There will be an increase for supplies increase of 2.5%

· There will be a book cost increase of 2.0%

· There will be a 2.0% increase to continuing education costs

· There will be a 3.0% increase to Transcription outsourcing

· There will be a1.5% increase to the copy service

· There will be a 1.5% increase to postage

· The coder Shameka Colgrove will be on maternity leave for 6 weeks in 2022. An outsourcing company will be used at $60.00 per hour. It will not impact her normal salary as she will be on paid maternity leave.

Part II:

For this portion, you will be responding to the following questions regarding the budget. Place the answers in a Word document.

Your CFO needs you to cut 12% from your 2022 budget.

· What is 12% of your 2022 budget?

· How will you make this cut? Remember to look at the budget as a whole. You don’t want to impact multiple areas. You need to review staffing and the operating budget. Provide a short paragraph explanation as to your method of cutting 12% of your 2022 budget.

Budget

Full time

Full time

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Benefits (30%)

Full time

Full time

.5 FTE

Full time

Full time

Full time

Benefits (25%)

NA

Exempt

Non-Exempt

NA

$0

$0

Salary Budget
Employee Status Current Yearly Salary Projected Rate Increase Next Year’s Salary(including raise)*
Director (G. Ryan, RHIA) Full time $95,000
Assistant Director (N. Rhinehart, RHIA) $89,700
Coding Supervisor (L. Smith, RHIT) $75,200
Fringe

Exempt NA
Coding Staff/Non-exempt employees
S. Colgrove, RHIT $52,000
E. Gonzalez, CCS .5 FTE $28,000
R. Jackson, RHIT, CCS $58,000
K. Brown, RHIT $26,500
ROI Staff
D. Williams $38,400
P. Taylor . 5 FTE $15,250
Quality Analysts
A. Anderson $45,700
R. Lopez $49,500
Fringe

Non-Exempt
Salary & Fringe SubTotals $0
Operating Budget
Expense Items Current Yearly Expenses Projected Increase Next Year’s Operating Expenses
Supplies $1,400
Books $800
Continuing Education
$4,500
$4,000
Outsourcing (Transcription) $233,400
Outsourcing (Copy Service) $1,200
Postage $300
Outsourcing Coding
Expense Items Subtotals
Grand Totals

&L2008
Calendar Year Budget&C&14Memorial Hospital&10
&RHealth Information
Management
&L*fringes not calculated for individuals

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