Healthcare Leadership and Innovation

HIM/Healthcare Budget Process

  • 1.  HIM/Healthcare Budget Process

    Posted 09-16-2018 00:18

    I am a student pursuing my Bachelor's in HIM. I'm currently taking a financial management course and was hoping to "virtually interview" an HIM professional or anyone in healthcare who is involved in the budgeting process. I have a few questions regarding your budgeting experience. Please see below. Thank you in advance for sharing your knowledge and expertise!

    1. What is the budget cycle for the organization and how frequently do you review your operating budget? How long do you have to develop your budget for the next year?
    2. What type of budgeting process does the organization use – conventional budgeting or zero-based budgeting? If the healthcare organization utilizes any different type of budget process, briefly explain the process.
    3. What type of training or support do you receive when working on next year's budget? Briefly describe the training and support program.
    4. What type of budget justification process is utilized when analyzing budget variances? Briefly discuss the organization's budget justification process.
    5. What is the most difficult part of budgeting?
    6. How are departmental employees engaged in the budgeting process and/or involved in management of expenses as related to the budget?

    Leah Christy
    Manager, Coding and Compliance Education