Planning and Budgeting
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
“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
References: Dentist Salary In Georgia. (2012). Retrieved from http://www.indeed.com/salary/q-Dentist-I--Georgia.htm Gapenski, L. C. (2012). (5th ed.). United States of America: The Foundation of the American College of Healthcare Executives. Jewish Family & Career Services. (2012). Major Funding. Retrieved from http://yourtoolsforliving.org/acknowledgements Massell, B. (2012). Ben Massell Dental Clinic History. Retrieved from http://benmasselldentalclinic.org/about/our-history Massell, B. (2012). Our Patients. Retrieved from http://b