Discussion 7-1 Financial Forecasting

Healthcare managers are involved in the annual budget and must have a good understanding of the financial statements and how they impact their individual departments. Capital budget proposals are typically presented to the CEO, CFO, COO, and controller. For this reason, managers need to ensure that capital budget proposals include relevant supporting documentation and financial analysis to support the proposed request. The goal is to obtain approval.

In your initial post, discuss the various ways that you, as manager of your department, can ensure that you prepare the best proposal possible. Include relevant resources and any action steps needed for this process. This is also a great opportunity to ask your peers questions if you need clarity in an area.