Budgeting is a process of planning and controlling future operations by comparing actual results with planned expectations.
Planning first involves reviewing established goals and objectives of both nursing and the organization. Goals and objectives help identify the organiza- tion’s priorities and direct the organization’s efforts. To plan, the organization must know the following:
● Demographics of the population served, community influences, and competitors ● Sources of revenue, especially with changes in reimbursement due to enactment of health
care reform ● Statistical data, including:
• Number of admissions or patient appointments • Average daily census • Average length of stay • Patient acuity • Projected occupancy or volume base for ambulatory or procedure-based units
or home care visits