Planning and Budgeting

Only available on StudyMode
  • Topic: Dentistry, Atlanta metropolitan area, Atlanta
  • Pages : 5 (1598 words )
  • Download(s) : 114
  • Published : May 14, 2013
Open Document
Text Preview
Planning and Budgeting
“Planning and budgeting are the two key major roles in the financial functioning of a healthcare organization. Planning covers the entire process and procedures of preparing the organization for their future financial goals. Budgeting include all of the detailed plans, which are expressed in dollar terms and they tell how the organizations resources will be obtained and used during a specific time period” (Gapenski, p. 253 & 259). In this paper there will be a brief discussion of what Ben Massell Dental Clinic, should take into consideration, when making pricing and service decisions. As well this paper will also cover the overall planning process and the components of their financial plan. Also this paper will briefly discuss how time analysis may help Bill Massell Dentistry to make sound management decisions. And lastly there will be a recommended major investment and a likely determination of how Ben Massell should address any financial risk and required returns. “In 1912 a philanthropist by the name of Morris Hirsch established the Morris Hirsch clinic with a goal in mind, which was to provide an out-patient medical service to those within the community, who weren’t able to afford proper medical care. Years later in 1929 a dental clinic was soon added. Then, in 1956 Dr. Irving M. Goldstein a dentist and former chief of staff of the Morris Hirsch clinic, he and his brother Dr. Marvin Goldstein decided to relocate their establishment to Pryor St, located in downtown Atlanta. They sought after one of Atlanta’s most premier builders and developer who had his eyes on the exact same building that the Goldstein brothers had chosen” (Massell, 2012, para. 1). The clinic resided in its new location for the next three years, and then in 1959 urban renewal and eminent domain laws, made it possible for the clinic to relocate once again. Soon, Ben Massell with the help of the Jewish Federation of Greater Atlanta was able to obtain a secure home on for his clinic located on 7th St in the Midtown area of Atlanta. And from that point on the clinic has remained there for the past 49 years. In honoring Ben Massell’s involvement, assistance and his financial generosity with the clinic it was then named, the Ben Massell Dental clinic (Massell, 2012, para. 2). When making pricing decisions, the managers of Ben Massell Dentistry Clinic, need to determine whether or not if their services are not only affordable, but are beneficial to the clients they serve. The managers of the Ben Massell Dental Clinic, also need to determine whether or not if they’re offering a substantial amount of volume discounts to clients and payer groups, and they need to determine exactly how large of a discount should be given to all of their clients. When making service decisions since the managers are not the ones who set the prices for the services, they have to decide whether or not that the payment is sufficient to assume the risks associated with providing services to the covered or non-covered population. The Planning Process is where the financial plans and budgets are developed for an organization to reach its financial goal. The process includes, value statement which describes the things the company values the most, mission statement describes the overall purpose for the existence of the company, and vision statement defines the company’s goals. Since, The Ben Massell Dental Clinic is a non-profit organization, their overall planning process consist of providing clients with the most advanced dental care. They describe themselves as the only resource for comprehensive and quality dental care at no cost to those in need of dental care. They offer a variety of services with the help of 140 volunteer dentists to better serve individuals who do not have access to proper dental services. Also The Ben Massell Dental Clinic is in partnership with, St. Joseph’s Mercy Care Services. With this partnership it allows clients to receive a...
tracking img