Finance

Naomi Sun

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Healthcare Budget Request

Prepared by: Linda ovbiojie

Submitted: January 2, 2024

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You should include the executive summary in the section marked W2A2 Executive summary, you will be adding to this document with each assignment. Please make this correction before your next assignment submission.

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You were instructed to place a screenshot of the W4A3 Excel Spreadsheet in this document. I don’t see that you included the screenshot.

W4A3 HEALTHCARE BUDGET REQUEST – ESTIMATING EXPENSES

Predicted revenues and expenditures over the next five years for the HealthWays Clinic

VR Treatment Program demonstrate that this subject was adequately investigated. The zero-year

launch expenditures amount to $300,000 and include virtual reality gear, infrastructure

improvements, and personnel training (Voukelatou et al., 2020). We anticipate yearly operating

expenses of more than $360,000. Expectations include consumables, training, maintenance, and

more. Over a five-year period, the office plans to allocate $60,000. With these funds, the

institution can keep providing its innovative virtual reality treatment program for mental health.

Client expenditure is anticipated to reach $1,250,000 after five years at the facility.

Finance and partnerships should bring in or save the clinic $1,815,000. To make sure the

program lasts, it needs a mix of one-time funding and recurring costs. Research by Farra et al.

(2019) found that ROI analyses the VR treatment program's budget. To get the return on

investment, divide the cost by the amounts saved or earned each year. The return on investment

(ROI) grows each year after the first one. For the first year, the clinic predicts a return of $2.36

on investment for every dollar. The fifth year had an increase of $8.18 in ROI.

A higher return on investment (ROI) demonstrates the profitability and sustainability of

the virtual reality treatment program. A profitable and effective strategy to attract new members

is one with a high return on investment (ROI). Medical expenses, new projects, or expanded

services may all be funded by surplus funds (Tran et al., 2021). A high return on investment

(ROI) is one reason why virtual reality therapy is cost-effective. For a clinic strategy to be

successful, it must generate revenue. Increasing revenue is the primary goal of the clinic's

program. Government authorities and representatives have lauded the clinic's consistent funding

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You need an introductory paragraph at the beginning of each part of the project. It should include a focused purpose statement as well.

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your project is for your organization not Healthways clinic

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The first time you use an acronym; you must write out the words and then indicate the acronym in parenthesis. Afterward you can use the acronym in place of the phrase. For example: Center for Disease (CDC).

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no really you are just estimating

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An expectation would be that you provide references for estimates to add credibility to your assertions.

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It can add credibility to your discussion with the use of evidence to support your assertions.

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It would have added to you discussion and offered credibility of the estimated financial impact of your proposed idea if you had included details from the budget for estimated expenses and revenue. Here is an example using salaries, "Estimates for nurse salaries were based on the average salary including benefits for RN in my state (reference) multiplied by the 3 RNs that are needed for the project. It is also assumed that there will be annual increases in salary of 3%."

as a means to better serve patients and elevate the clinic's standing in the community. The

healthWays Clinic's VR treatment program was successful over the course of five years. This

study lends credence to the clinic's proposed budget by demonstrating the program's potential to

boost financial stability, psychological health, and patient well-being.

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It would have added to the flow of your paper if you had included a conclusion paragraph. Remember a conclusion paragraph does not offer any new information.

References

Farra, S. L., Gneuhs, M., Hodgson, E., Kawosa, B., Miller, E. T., Simon, A., Timm, N., &

Hausfeld, J. (2019). Comparative cost of virtual reality training and live exercises for

training hospital workers for evacuation. Computers, Informatics, Nursing: CIN, 37(9),

446–454. https://doi.org/10.1097/CIN.0000000000000540

Tran, J. E., Fowler, C. A., Delikat, J., Kaplan, H., Merzier, M. M., Schlesinger, M. R.,

Litzenberger, S., Marszalek, J. M., Scott, S., & Winkler, S. L. (2021). Immersive virtual

reality to improve outcomes in veterans with stroke: Protocol for a single-arm pilot study.

JMIR Research Protocols, 10(5), e26133. https://doi.org/10.2196/26133

Voukelatou, V., Gabrielli, L., Miliou, I., Cresci, S., Sharma, R., Tesconi, M., & Pappalardo, L.

(2020). Measuring objective and subjective well-being: Dimensions and data sources.

International Journal of Data Science and Analytics, 11(11).

https://doi.org/10.1007/s41060-020-00224-2