Budgeting for Healthcare

IHP 510 Module Eight Worksheet

For the Module Six worksheet task, you proposed marketing and communication strategies based on the target market and demographics for a department, program, or service of the

Missouri Department of Health and Senior Services

.

For this follow-up worksheet task in Module Eight, you will complete a basic budget for implementing the marketing strategies you proposed in the Module Six Worksheet. In this task, you will illustrate how you would allocate $100,000 among the three campaigns you proposed.

· First, list the target market/demographic, the department/program/service, and the marketing technique for the three priorities you selected in the Module Six worksheet task.

· Next, illustrate how you would allocate a portion of the funds for each priority. Be sure to consider direct, indirect, and hidden costs. Please see the example below.

· Finally, describe why you made the budgeting choices around prioritization and specific costs.

Note: Although you are not being asked to prioritize your marketing tactics for a specific budget in your final healthcare marketing plan, this is an important exercise to complete as it is crucial to understand how healthcare organizations allocate funds for their marketing campaigns.

Example

Priority One: Here is where you list the target market/demographic, the department/program/service, and the marketing technique for the three priorities that you selected in the Module Six worksheet task. (Ex: white low-income, oral health, and television commercial/s.)
Funds Allocated for the Marketing Campaign: $50,000

Direct Costs

· Scriptwriter $5,000
· Actors and actresses $7,000
· Airtime $10,500
Indirect Costs
· Manager $15,000
· Two staff $7,500

Hidden Costs

· Outsourcing $5,000

Total Costs for Priority One: $50,000

Note: Based on this example, you would have $50,000 remaining for Priority Two and Three.

Priority One

Priority One:

Funds Allocated for the Marketing Campaign: $ ___________________________

Direct Costs

· Identify $0

· Identify $0
· Identify $0

Indirect Costs

· Identify $0
· Identify $0
· Identify $0
Hidden Costs
· Identify $0

· Identify $0

Total Costs for Priority One: $0

Discussion:

Priority Two

Priority Two:

Funds Allocated for the Marketing Campaign: $ ___________________________
Direct Costs
· Identify $0
· Identify $0
· Identify $0
Indirect Costs
· Identify $0
· Identify $0
· Identify $0
Hidden Costs
· Identify $0
· Identify $0

Total Costs for Priority Two: $0

Discussion:

Priority Three

Priority Three:

Funds Allocated for the Marketing Campaign: $ ___________________________
Direct Costs
· Identify $0
· Identify $0
· Identify $0
Indirect Costs
· Identify $0
· Identify $0
· Identify $0
Hidden Costs
· Identify $0
· Identify $0

Total Costs for Priority Three: $0

Discussion: