Instructions (See that attached file)
You have been asked by the hospital’s chief administrator to create a new six-month operations budget for the clinic. Using an Excel spreadsheet, create a new six-month budget for the clinic that includes the following revenue and expense projections:

The clinic’s revenue is projected to grow by approximately 3% as a result of a new managed care contract.
The cost of expenses is expected to increase to 1.5%.
The clinic will also be adding a new roof to the facility at a projected cost of $50,000.

Then prepare a memo for the chief administrator. The memo should include a review of the previous year’s budget, an analysis of the upcoming changes (figures above), and a discussion about the impacts that these changes will have on the budget for the upcoming year.
Please see rubric below: 
A – 4 – Mastery
Memo includes a complete and thorough review of the year’s budget with multiple examples or supporting details.
A – 4 – Mastery
Memo includes a comprehensive analysis of the proposed changes, incorporating the following figures: clinic revenue growth of approximately 3%, a result of the new managed care contract, expense cost increase of 1.5%, new roof for facility at $50,000
A – 4 – Mastery
Memo includes a clear and thorough discussion on the impacts that the changes will have on the budget for the upcoming year. Includes multiple examples or supporting details.
A – 4 – Mastery
Excel spreadsheet of six-month budget for the clinic with revenue and expense projections has no significant errors.Budget

Budget C


Description Detail Yearly Budgeted Amount

Clinic Revenue Lab 325 clients per month, 3,900 total visits 163,800.00

Revenue Medications 195 of billable labs per month, 2340 labs per year 58,500.00

Revenue Procedures 162 meds per month, 1,950 per year 39,000.00

Revenue Less # of billable procedures done per year 26,000.00

Contractuals Percentage negotiated with payer 114,920.00



Description Detail Yearly Budgeted Amount


Provider salary Total salary 60,000.00

Receptionist salary 13,395.00

LPN salary 28,182.00

Total Salary & Wages: 101,577.00

Provider FICA Salary x 0.0765 4,590.00

Receptionist FICA Salary x 0.0765 1,024.68

LPN FICA Salary x 0.0765 2,155.92

Total FICA 7,770.60


Health Insurance 10,222.08

Life Insurance 2,216.00

Long Term Disability 666.00

401K Employer Contribution

Total Additional Benefits: 13,104.08

TOTAL PAYROLL: 122,451.68


Supplies Food 100

Misc. Supplies 1,000.00

Medications 5,000.00

Medical Supplies 4,500.00

Office Supplies 500.00

Printing 500.00

Postage UPS, Fed Ex, Postage 500.00

Professional Fees

Consulting Accountants fees 1,000.00

Audit Fee 1,500.00

Legal Fees 1,500.00

Licensing Fees Clinic 300.00

Bank Fees 250.00

Advertising 5,000.00


Worker’s Compensation 1,575.00

Gen/Pro/Med Mal liability, professional liability, employment, practice liability, property insturance, etc. 15,000.00

Umbrella Ins. 830.00

D&O Ins. 1,000.00

Professional Development Meetings Continuing education for provider and staff 1,000.00

Cont. Memberships etc. Exp. Rural Health Association 300.00

Travel & Entertainment Monies for getting to conference 1,000.00


Telephone Regular Service 1,800.00

Internet Access 300.00

Utilities Water, Electric, Garbage 5,000.00

Small Equipment & Tools 300.00

Equipment Rental 1,200.00

Capital Equipment 10,000.00

Rent or mortgage 7,200.00

Maintenance cleaning service, building & grounds upkeep 1,600.00



Yearly Budgeted Amount

NET INCOME (Loss) [Revenue – Expenses] 210,013.32

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