Reference no: EM132998551

As a member of the finance team, you have been asked to forecast the upcoming year's operational budget for Krona Community Hospital. . After reviewing specific data, internal input, and external input from various sources, you find that the executive management team would like the budget to reflect the following:

-10% increase in inpatient revenue

-15% increase in outpatient revenue

-5% increase in pharmacy revenue

-15% increase in home health and hospital revenue

-10% increase in payroll and benefits

Additionally, provide discussion on the following:

-How do you think that revenue would increase in each of the areas? Think outside of the box, and perform research to determine current trends in those areas.

-Why would there be a forecasted need to increase payroll and benefits?

-Explain the role of key leadership in the budgeting process, from the chief executive officer down through to the staff level of a financial analyst.