Evaluate how Budget is a Management Tool and the Role of Effective Budgeting Software in Healthcare Setting

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Strategic budgeting integrates strategic and financial planning, capital planning, and a connected budget development process. A best practice budget translates strategies directly to operating targets. In health care, budgeting is often viewed as a process where the senior executives determine the budget targets while the departments complete the actual budget knowing the budget targets. The next step is characterized by senior management and department heads negotiating final budget target figures involving ownership of profitability figures for the organizations.
Evaluating Strategic Budgeting Processes:
Contemporary budgeting software is needed today which supports integrity and best budgeting practices. In budget meetings, the department heads study the budget targets and operational practicality of the plan goals. This gives department heads an opportunity to provide input and develop synergy between management and senior executives. Evaluate best practice budgeting processes that support an organization’s mission and day-to-day operations.
In a research paper evaluate how the budget is a management tool and the role of effective budgeting software in insuring the integrity of the budgeting process. Length: 5-7 pages (app. 350 words per page)
Your paper should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards.

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