Strategic Plan – Financial Plan

The Organization I have chosen is the MAYO CLINIC, the program we will be adding is Healthcare  Literacy and Advocacy Center.

Create a 3- to 5-year financial plan to implement the goals and objectives created in Part 2 of your strategic plan. 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.

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.

Format your paper according to APA guidelines.This includes an introduction, conclusion and reference pag.

Submit as Microsoft® Excel® and Microsoft® Word attachments.

EXCELWordStrategic Planning

Preopening Budget Example

.

MRI

as a % of revenue

as a % of revenue

as a % of revenue

0.50%

1.00%

Travel

Contracts

Marketing $140,000 $154,000 $169,400

$280,000 $308,000 $338,800

$4,200,000

$0

																																																																																																																																																		University of Phoenix Material
Sample Strategic Planning Spreadsheet
Diagnostic Imaging
Purchase &	Hire & Train	Strategies to Increase Volume
Install	Staff	Purchase and install a new	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		0.50%
Total revenue	$28,000,000	$30,800,000	$33,880,000	Maintenace as a % revenue		1.00%
	Contracts	2.00%
Expenses		Marketing
Misc as a % of revenue
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
	$140,000		$154,000		$169,400
Maintenance		$280,000		$308,000		$338,800
$560,000	$616,000	$677,600
Miscellaneous
Total expenses	$23,800,000	$25,970,000	$28,346,500
Net profit	$4,830,000	$5,533,500
Capital outlay	$2,500,000		$0

Grading Criteria: Strategic Plan -Financial Plan HCS/5 8 9 Version 2

1

Grading Criteria

Strategic Plan- Financial Plan

This assignment is due in Week Four

Student Name:

Points Earned

Additional Comments:

Points Available

20

Additional Comments:

Content 60 Percent	Points Available 80		Points Earned			Additional Comments:
Financial Plan Budget Spread Sheet · Created a projected budget in a Microsoft® Excel® spreadsheet that contains a 3 to 5-year financial projection including detailed expenditures, income, and gain or loss. · Capital Expense and/or Contingency expense is included in the budget spread sheet. Included on Spreadsheet – (See Sample Budget for Format). · Description of assumptions · Strategies to increase volume. Strategic Financial Analysis · Describe the Elements of the projected budget · Describe the Capital Expense Plan and the Contingency Plan · Describe the organization’s current business model. · Evaluate the budget assumptions listed in the budget. · Identify and explain the details of the strategies to increase volume.	40 10 10 10 10 40 8 8 8 8 8
Organization/Development 20 Percent		Points Available 20
· There are in-text citations of at least 4 peer-reviewed, scholarly, or similar resources. · The Financial Analysis meets or exceeds the minimum 1,050 – 1,400 words	10 10
Mechanics 20 Percent	Points Earned
· The Financial Analysis Strategic Plan is formatted according to APA guidelines   and meets requirements. · The in-text citations are properly added to the reference page. · The Strategic Plan effectively uses headings, font styles, and white space. · Rules of grammar, usage, and punctuation are followed; spelling is correct.	5 5 5 5
Total Available	Total Earned
	120	Feedback and Goals: Spreadsheet: Financial Analysis:

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