Ratios group project
PBHL-H352, Health Finance and Budgeting
This artifact is a budgeting and cost analysis assignment from my Health Finance and Budgeting class. It focuses on breaking down costs, comparing financial data, and understanding how budgeting works in healthcare organizations. This project shows how financial decisions are made and how different costs can impact overall operations.
What I learned
I chose this assignment because it was something new to me and helped me better understand the financial side of healthcare. It took time to work through the numbers and make sure everything was accurate, but it helped me see how budgeting actually works in real situations. Working on this helped me understand how important it is to track costs and make decisions based on financial data. It also showed me how even small changes in costs can have a bigger impact on an organization overall. Some parts were challenging, especially making sure everything was calculated correctly, but it helped me become more comfortable working with numbers. Overall, this assignment gave me a better understanding of how finances play a role in healthcare and helped me build skills that I can use in the future when making or reviewing budgets.
Program Competencies
The following are learning objectives that I have learned from this assignment:
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Demonstrate effective written communication and oral communication skills.
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Demonstrate behaviors that align with ethical, legal, and professional standards.
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Apply data and health information technology to inform organizational performance and decision making.
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Utilize financial tools, principles, concepts, and practices to analyze budgets and financial documents to determine the financial performance of health services organizations.