Capital Budget Proposal

Capital Budget Proposal
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Understanding the importance of capital budgeting is essential, especially for healthcare professionals who have the duty of proposing budgets and expenditures. This allows them to create more strategic decisions that would ensure the feasibility and cost-effectiveness of their actions. In line with this, the author would like to focus on the importance of patient monitors as a capital budget item for hospitals. This includes the need for these items and why hospitals should invest in these kinds of tools for the improvement of the delivery of care as well as the efficiency of such decisions. All in all, it is the author's belief that knowing the importance of every capital budget item is essential for the future practice and administrative duties of a healthcare professional.
Capital Budget Item and Patient Monitors
Capital budgeting refers to determining and allocating capital towards liabilities, expenditures, and other investments that are essential for the operation of an organization. Accordingly, capital budget items are those line items that are specifically identified and enumerated as necessary to purchase properties, land, and equipment, among others CITATION Dru21 \l 1033 (Drury, 2021). In line with this, one of the capital budget items that hospitals purchase is patient monitors. Patient monitors are simply electronic devices that can assess, record, and visually present the vital signs of a patient. Patient monitors provide the preciseness and ease of determining a patient's general condition without needing to conduct tedious examinations regularly CITATION And18 \l 1033 (Andrade, et al., 2018).
Patient monitors (PMs) are an indispensable capital budget item for any hospital facility because; (1) it reduces costs on the part of the hospital and (2) reduce risks of lawsuits and malpractices over the long run. But before going to these advantages as a capital budget expenditure, its basic functionalities and importance must first be shown.
Patient monitors are highly beneficial because of the real-time diagnostics that they provide...