Last Year Budget For Coppin State Regional Health Center

Last Year Budgetcoppin State Regional Health Centerhealth Information

Last Year Budget Coppin State Regional Health Center Health Information Management Department Budget SALARIES $471,040.00 EDUCATION $1,200.00 MAINTENANCE CONTRACTS $25,000.00 REPAIRS $3,500.00 FOOD $300.00 STORAGE $7,200.00 POSTAGE $1,200.00 OFFICE SUPPLIES $36,000.00 PROFESSIONAL DUES $250.00 TRAVEL $1,800.00 TOTAL $547,490.00 AVERAGE HOURLY RATE $18.87 REVENUE $78,000.00 Salaries Budget POSITION SALARY HOURLY RATE Yearly DIRECTOR $80,000.00 DRG COORDINATOR $28.00 $58,240.00 CODER $22.00 $45,760.00 CODER $22.00 $45,760.00 CODER $18.00 $37,440.00 SUPERVISOR $20.00 $41,600.00 CLERK $12.00 $24,960.00 CLERK $12.00 $24,960.00 CLERK $12.00 $24,960.00 ROI CLERK $15.00 $31,200.00 ROI CLERK $15.00 $31,200.00 VITAL STATS CLERK $12.00 $24,960.00 $391,040.00 DIRECTOR SALARY ADDED BACK IN $80,000.00 TOTAL SALARIES FOR DEPARTMENT $471,040.00 Monthly Expenses JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD SALARIES $40,006.14 $36,134.58 $40,006.14 $38,715.62 $40,006.14 $38,715.62 $40,006.14 $40,006.14 $40,006.14 $40,006.14 $38,715.62 $40,006.14 $471,040.00 EDUCATION $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $1,200.00 MAINTENANCE CONTRACTS $2,083.33 $2,083.33 $2,083.33 $2,083.33 $2,083.33 $2,083.33 $2,083.33 $2,083.33 $2,083.33 $2,083.33 $2,083.33 $2,083.33 $25,000.00 REPAIRS $291.67 $291.67 $291.67 $291.67 $291.67 $291.67 $291.67 $291.67 $291.67 $291.67 $291.67 $291.67 $3,500.00 FOOD $25.00 $25.00 $25.00 $25.00 $25.00 $25.00 $25.00 $25.00 $25.00 $25.00 $25.00 $25.00 $300.00 STORAGE $600.00 $600.00 $600.00 $600.00 $600.00 $600.00 $600.00 $600.00 $600.00 $600.00 $600.00 $600.00 $7,200.00 POSTAGE $48.00 $48.00 $48.00 $48.00 $48.00 $48.00 $48.00 $48.00 $48.00 $48.00 $48.00 $48.00 $576.00 OFFICE SUPPLIES $3,000.00 $3,000.00 $3,000.00 $3,000.00 $3,000.00 $3,000.00 $3,000.00 $3,000.00 $3,000.00 $3,000.00 $3,000.00 $3,000.00 $36,000.00 *PROFESSIONAL DUES $20.83 $20.83 $20.83 $20.83 $20.83 $20.83 $20.83 $20.83 $20.83 $20.83 $20.83 $20.83 $250.00 TRAVEL $150.00 $150.00 $150.00 $150.00 $150.00 $150.00 $150.00 $150.00 $150.00 $150.00 $150.00 $150.00 $1,800.00 TOTAL $46,324.97 $42,453.41 $46,324.97 $45,034.45 $46,324.97 $45,034.45 $46,324.97 $46,324.97 $46,324.97 $46,324.97 $45,034.45 $46,324.97 $548,156.52 AVERAGE HOURLY RATE REVENUE $6,500.00 $6,500.00 $6,500.00 $6,500.00 $6,500.00 $6,500.00 $6,500.00 $6,500.00 $6,500.00 $6,500.00 $6,500.00 $6,500.00 $78,000.00

Paper For Above instruction

The budgeting process within a healthcare facility such as Coppin State Regional Health Center’s Health Information Management (HIM) Department necessitates a comprehensive approach that carefully evaluates operational needs, strategic priorities, and fiscal constraints. This paper explores critical considerations in conducting a cost-benefit analysis for proposed projects, determines the most appropriate request type for each, justifies the selection of one project over others, and outlines how to make a compelling case for the department’s initiatives.

Firstly, a thorough cost-benefit analysis must encompass direct and indirect costs as well as tangible and intangible benefits. For each project, costs include initial capital outlays, ongoing operational expenses, potential disruptions to existing workflows, and training needs. For instance, implementing an Electronic Record System (EHR) involves hardware and software acquisition, staff training, and potential temporary productivity decline. Conversely, benefits may include improved accuracy in coding, efficiency gains, enhanced patient safety, and complying with regulations. Identifying quantifiable benefits such as increased revenue or reduced errors, and qualitative benefits such as improved staff satisfaction, is essential in this analysis.

Operational costs and benefits must also be examined through a long-term lens, considering future scalability, maintenance costs, and the impact on hospital accreditation and patient satisfaction. For example, investing in a telecommuting coding system could reduce overhead costs and attract qualified remote coders, while enhancing operational flexibility. Conversely, projects like expanding cardiology services entail significant capital expenditure but potentially yield increased revenue and improved patient outcomes—crucial factors in strategic decision-making.

The choice of request type—Request for Information (RFI), Request for Proposal (RFP), or Request for Quote (RFQ)—depends on the project’s complexity and stage of procurement. An RFI is appropriate when exploring available solutions or technology options, as in the case of digital coding systems or transcription services. An RFP is suitable when seeking detailed proposals that include technical specifications, project timelines, and cost estimates, especially for complex projects like EHR implementation or facility renovations. An RFQ is often used for straightforward purchases with well-defined specifications, such as office supplies or standard maintenance contracts.

Given the department’s current needs, issuing an RFP for transcription and coding services would be most appropriate, as these involve specific service requirements and vendor expertise. This approach allows the hospital to evaluate detailed proposals, including service quality, compliance, and pricing, enabling informed decision-making. Conversely, simpler procurement, such as purchasing supplies, would require an RFQ.

When prioritizing projects, the project with the most immediate return on investment and strategic importance should be favored. In this scenario, outsourcing transcription and moving to a web-based coding system might have the best chance of approval due to its potential to enhance operational efficiency, support telecommuting, and reduce costs. Moreover, it addresses current staffing shortages, thus ensuring continuity of documentation and coding functions, which are vital for billing and compliance.

As the HIM department director, justifying the project involves emphasizing benefits such as increased productivity, cost savings, staff flexibility, and technological modernization. Implementing a web-based coding system reduces dependence on physical files, accelerates turnaround times, and aligns with the hospital’s strategic goals of digital transformation. Additionally, outsourcing transcription ensures quality and consistency while alleviating internal workload, thus enabling staff to focus on higher-value activities. Demonstrating potential improvements in documentation accuracy, compliance, and reimbursement rates are compelling points to secure approval.

In conclusion, a systematic approach to the budgeting process—considering detailed cost-benefit analyses, appropriate procurement requests, strategic project prioritization, and effective justification—ensures that Coppin State Regional Health Center’s HIM Department can support hospital goals while maintaining fiscal responsibility. By carefully evaluating each project’s long-term impact, operational necessity, and alignment with organizational priorities, the department can make informed decisions that sustain quality care, operational efficiency, and financial health.

References

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