05 Feb Identify at least one other source of funding that your peer did not identify, and explain why that source is also important to consider in planning a progr
Speak in first Person
Then, respond to at least two of your peers' initial posts. Include the following in your response:
- Identify at least one other source of funding that your peer did not identify, and explain why that source is also important to consider in planning a program.
- Explain the risks of not creating or including a budget as part of a program plan. If your peer has already discussed some risks in their initial post, identify at least one other risk they did not identify or elaborate further on a risk they did identify.
Chelsea Discussion:
Hello Class,
Budgeting plays a crucial role in the successful implementation of healthcare programs, particularly in initiatives like the focus of my program on the Adolescent Mental Health Support Initiative. The primary purpose of budgeting is to ensure that financial resources are allocated efficiently and effectively. A well-structured budget allows program managers to track expenses, identify potential financial pitfalls, and make informed decisions that align with the organization’s long-term financial goals (Longest, 2015). By establishing clear financial targets and monitoring progress through monthly updates, teams can remain focused on achieving desired health outcomes, thereby enhancing overall program effectiveness and accountability. In developing the budget for the Adolescent Mental Health Support Initiative, I plan to leverage a diverse range of funding sources. Primarily, I will utilize revenue generated from potential partnerships with local healthcare providers and mental health organizations that may offer services on a fee-for-service model. The use of fee-for-service models can create a sustainable revenue stream while ensuring that the services offered are aligned with community needs. Additionally, savings accrued from previous program operations will be reinvested to support new initiatives and improve service delivery. This demonstrates a commitment to continuous improvement and innovation, which is critical in the ever-evolving field of mental health support. This forward-thinking approach can elevate the quality of services provided. Importantly, I will also seek donations from community stakeholders and philanthropic organizations committed to improving adolescent mental health resources. Engaging these stakeholders not only ensures a more robust financial foundation but also fosters community support, which is vital for the sustainability of the program (Longest, 2015). Engaging stakeholders can also lead to increased visibility for the initiative, potentially attracting additional support and resources. By utilizing these funding sources strategically, the Adolescent Mental Health Support Initiative can maximize its impact and provide essential support for adolescents in need. **References**
Longest Jr, B. (2015). Health Program Management . R2 Digital Library; Wiley-Blackwell. https://www-r2library-com.eu1.proxy.openathens.net/resource/detail/1118834704/ch0004s0067. Chapter 2.
Adrian Discussion:
Good evening, Class,
Budgeting in simple terms is like making a detailed plan for how to spend money wisely. In the context of a healthcare program, the purpose of budgeting is to make sure that the program has enough money to cover al of its necessary expenses, like staffing, equipment, and patient care, while staying within its financial limits. By creating a budget, the program can track spending, avoid overspending, and make smarter decisions about where to allocate resources. Regular updates to the budget help keep hte team focused on achieving long-term goals, like improving patient outcomes or expanding services, without running into financial problems.
When it comes to funding sources, different types of money can be used in various ways. Revenue, which might come from services provided by the program, helps cover operational costs. Savings, if available, can serve as a safety net for unexpected expenses. Donations, often from individuals or organizations, can help fund specific initiatives or enhance the progra’s overall capacity, especially if the program has limited resources. A well-planned budget ensures that all these different funding sources are used effectively and efficiently to support the healthcare program’s goals and make sure it runs smoothly over time.
Thank you,
Adrian R.
NetSuite.com. (n.d.). Healthcare budgeting: A balancing act. Oracle NetSuite. https://www.netsuite.com/portal/resource/articles/financial-management/healthcare-budgeting.shtml#:~:text=Budgeting%20helps%20healthcare%20organizations%20effectively,operational%2C%20capital%20and%20rolling%20budgets .
Homauni, A., Markazi-Moghaddam, N., Mosadeghkhah, A., Noori, M., Abbasiyan, K., & Jame, S. Z. B. (n.d.). Budgeting in healthcare systems and organizations: A systematic review. Iranian journal of public health. https://pmc.ncbi.nlm.nih.gov/articles/PMC10682572/
