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(Order) NURS 6211 Assignment: W4A3 Healthcare Budget Request – Estimating Expenses

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Assignment: W4A3 Healthcare Budget Request – Estimating Expenses

One aspect of your proposal that will be of particular interest to decision-makers is expense. New products and services come with a myriad of costs associated with development, launch, and implementation. These costs may include human resources/personnel, equipment and supplies, marketing, training, and many more. Leadership and other decision-makers must fully understand these costs to make informed decisions about which initiatives to pursue and what level of resources commit the provision of resources.

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Assignment: W4A3 Healthcare Budget Request – Estimating Expenses

One aspect of your proposal that will be of particular interest to decision-makers is expense. New products and services come with a myriad of costs associated with development, launch, and implementation. These costs may include human resources/personnel, equipment and supplies, marketing, training, and many more. Leadership and other decision-makers must fully understand these costs to make informed decisions about which initiatives to pursue and what level of resources commit the provision of resources.

What is Return on Investment?

An estimation of expenses provides a significant component of potential return on investment. As discussed in the Learning Resources, return on investment (ROI) is a financial measure that attempts helps evaluate profitability of an investment or a project. ROI seeks to quantify the amount of return on a particular investment in light of the total cost (expense). ROI is calculated as:

The total value of the investment represents revenues and other quantifiable value and the total cost of the investment represents expenses. When working with a proposal, as you are doing in this assignment, estimates must be used for these values.

Note: ROI is usually expressed as a percentage (multiplying the above formula by 100 or click the % sign in the Excel toolbar).

ROI is one of the most popular profitability ratios because of its flexibility and versatility. Essentially, ROI can be used as a gauge of an investment’s profitability. It is a relatively easy calculation and can be clearly interpreted. If an investment’s ROI is net positive, it is probably worthwhile. But if other opportunities with higher ROIs are available, these signals can help decision-makers eliminate or select the best options. Likewise, negative ROIs imply a net loss and should be avoided.

Part 1: Expense/Revenue/ROI Analysis:

For this Assignment, you will estimate the expenses associated with your proposed healthcare product or service. You will also estimate the value of the investments and calculate the return on investment. To do this:

  • Open the xlsx file you created
Note: Full answer to this question is available after purchase.
in the previous Assignment.
  • Navigate to the W4A3 Estimated Expenses worksheet and set up your work following this format:
  • Identify each estimated expense associated with your proposed idea. Be sure to include every expense you can legitimately estimate, including startup expenses needed to launch your proposed product or service. Label each appropriately, with enough description to make it clear what the item is and what the estimated cost involves.
  • Identify each of the estimated revenues associated with your proposed idea. Be sure to label each appropriately, with enough description to make it clear what the item is and any necessary details regarding sources of revenues (including reimbursements).
  • Write a function or formula that calculates the total estimated expenses and revenues for the next 5-year period. Consider that these amounts should be estimated to increase annually. Your formula should include an increase for each year.
  • Write a function or formula that calculates the estimated return on investment (ROI) for your proposed idea.
  • Save the workbook as xlsx and submit the workbook to the appropriate Week 4 Assignment 3 submission link by the due date specified in the classroom.
  • Copy and paste the work into your Healthcare Budget Request Template above part 2. This is similar to a “screenshot”. Autofit to the page.

    • Part 2: W4A3 Projected Expenses and Revenues (Five Year)

    Summary of Analysis and Interpretation of Results:

    • In the Healthcare Budget Request Template, under the heading W4A3 Projected Expenses and Revenues (Five Year), create a brief (1- to 2-page) description of your analysis that clearly describes the estimated financial impact of your proposed idea. Interpret the results by explaining what your ROI calculation means to the organization.
    • Save the document using the naming convention of docx and submit to the appropriate Week 4 Assignment 3 submission link by the due date specified in the classroom.

    *Attach both part 1 and 2 files before submitting.

    Note: You have completed Week 4 Assignment 3.

    RELATED: Module 1 Week 2 Assignment 2: W2A2 Healthcare Budget Request and Workbook Template

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