Question
Can you PLEASE help me with this? I DO NOT have a financial background..Create a 3- to 5-year financial plan to implement the goals and
Can you PLEASE help me with this? I DO NOT have a financial background..Create a 3- to 5-year financial plan to implement the goals and objectives created in Part II of your strategic plan (see below). The deliverables for the financial plan include a projected budget created in Microsoft Excel and a report in Microsoft Word that clarifies and explains the financial plan. All this is for Medstar Health Network. The basis for the projections is for Medstar Health network with implementing anew project in strategy.
Section One: Projected Budget Create a projected budget. The projected budget should be a Microsoft Excel spreadsheet that contains a 3- to 5-year financial projection that includes detailed expenditures, income, contingency, gain or loss, capital outlay, and ROI (if applicable). Include budget strategies to increase volume and budget assumptions. Section Two: Financial Plan Explanation Write a 1,050- to 1,400-word narrative discussing the fiscal details of the plan and the assumptions that were used in developing the projected budget. Include all the elements required in the projected budget. Include capital expenditure planning and contingency plans for unexpected events. Budget summary: When explaining your budget: Describe the organization's current business model. Evaluate the impact of internal resources and financial capabilities on the business model implementation. Determine how the organization's internal resources and financial capabilities affect your financial plan. Determine how they will affect implementation of the plan. Explain the details of the budget assumptions and the strategies to increase volume. Cite at least 4 peer-reviewed, scholarly, or similar resources to support your information. Here's an example
| Sample Strategic Planning Spreadsheet | |||||||||||||
| Diagnostic Imaging | |||||||||||||
| Purchase & | Hire & Train | Strategies to Increase Volume | |||||||||||
| Install | Staff | Purchase and install a new MRI. | |||||||||||
| MRI | Train or hire additional staff to operate new MRI. | ||||||||||||
| Revenue | Year 1 | Year 2 | Year 3 | Increase marketing to physicians. | |||||||||
| CT | $2,000,000 | $2,200,000 | $2,420,000 | Assumptions | |||||||||
| MRIs | $8,000,000 | $8,800,000 | $9,680,000 | Increase in revenue/year | 10.00% | ||||||||
| General diagnostic | $6,000,000 | $6,600,000 | $7,260,000 | Increase in salaries/year | 4.00% | ||||||||
| Interventional | $12,000,000 | $13,200,000 | $14,520,000 | Increase in supply expense/year | 5.00% | ||||||||
| Travel as a % of revenue | 0.50% | ||||||||||||
| Total revenue | $28,000,000 | $30,800,000 | $33,880,000 | Maintenace as a % revenue | 1.00% | ||||||||
| Contracts as a % of revenue | 2.00% | ||||||||||||
| Expenses | Marketing as a % of revenue | 0.50% | |||||||||||
| Misc as a % of revenue | 1.00% | ||||||||||||
| Salaries | $18,200,000 | $20,020,000 | $22,022,000 | Salaries as a % of revenue | 65.00% | ||||||||
| Supplies | $4,200,000 | $4,410,000 | $4,630,500 | ||||||||||
| Travel | $140,000 | $154,000 | $169,400 | ||||||||||
| Maintenance | $280,000 | $308,000 | $338,800 | ||||||||||
| Contracts | $560,000 | $616,000 | $677,600 | ||||||||||
| Marketing | $140,000 | $154,000 | $169,400 | ||||||||||
| Miscellaneous | $280,000 | $308,000 | $338,800 | ||||||||||
| Total expenses | $23,800,000 | $25,970,000 | $28,346,500 | ||||||||||
| Net profit | $4,200,000 | $4,830,000 | $5,533,500 | ||||||||||
| Capital outlay | $2,500,000 | $0 | $0 | ||||||||||
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