Budget Plan for the Heart Failure Clinic Assignment

Budget Plan for the Heart Failure Clinic - Assignment Example CDC states that heart failure is responsible for 55,000 deaths annually. Furthermore, CHF costs the nation a lot of money with analysts estimating the annual expenditure to $34 billion (Amakali, 2015). The authorial intent of this paper is therefore to establish, through use of evidence-based management practices, the best strategies for developing a budget plan geared towards establishing an effective Heart Failure Clinic. It is imperative for hospital administrators to work behind closed doors in order to ensure that hospitals' financial security and welfare is up to required standards. This implies that hospital administrators must identify those factors that if not well facilitated within the hospital budget plan may plunge the whole fraternity into financial crisis (Langenbrunner, Cashin, & O'Dougherty, 2009). Consequently, this business plan identifies the major categories and subcategories of the budget necessary for the set up of HFC. They include; Labor Costs, supplies and c apital expenses, insurance billing, research and teaching, liability costs et cetera. Some of the categories are discussed below.