[MT] LABORATORY BUDGET AND EQUIPMENT MANAGEMENT

are crucial aspects of operating a
clinical laboratory efficiently.

Financial and equipment management

ensures labortories have the necessary resources to function, while effective equipmet management guarantees reliability and complicance with regulatory standards.

Proper budgeting

Planning, organizing, directing, and controlling the financial activities such as procurement and utilization of funds.

Financial management

What financial document contains estimates of incomes and expenses?

Financial Report

What financial process involves coordination of income and expenses?

Budget Planning

What financial process is a crucial component of laboratory management?

Budget Planning

What financial process ensures financial stability and sustainability while optimizing resources for quality patient care?

Budget Planning

What is the sum of money allocated for a particular purpose?

Budget

What type of budget includes items needed to conduct business?

Operational Budget

What type of budget is for non-expandable items with a life expectancy of more than one fiscal year and a cost exceeding a set minimum amount?

Capital Budget

What type of budget includes salaries, benefits, supplies, repair costs, and maintenance?

Operational Budget

What type of budget includes an automated analyze and for reagentsr?

Capital Budget

Allocated resources are essential for maintaining an effective and fiscally responsible organization.

Laboratory Budget

Reflects the business strategy and contains the allocation of all resources.

Functions of Budget

Operating and Capital Outlay Budget

Project Procurement Management Plan (PPMP)

Supplemental Project Procurement Management Plan (SPPMP)

Contains the information needed to establish charges and project net revenue.

Functions of Budget

What budgeting method adjusts previous budgets by a percentage increase and is common in government-funded laboratories?

Incremental Budgeting

What budgeting method requires every expense to be justified from scratch and is suitable for private or newly established labs?

Zero-Based Budgeting

What budgeting method links budget allocation to specific laboratory activities and test volumes?

Activity-Based Budgeting

Phase ____: Development of annual budget goals.

1

Phase ____: Identifying budget assumptions.

2

Phase ____: Forecasting of annual expenses.

3

Phase ____: Monitoring of expenses and making appropriate adjustments regularly.

4

What phase is this: Reduce supply expense, Increase testing volume

Hospital Initiatives (Phase 1)

What phase is this: Buy a new analyser, Paint the department

Department Initiatives (Phase 1)

What phase is this: Past Earnings (Revenue), Past Volume, Past Expenses (Salary, Supplies, Reagents)

Phase 2

What phase is this: Planned Earnings (Revenue), Planned Volume, Planned Expenses (Salary, Supplies, Reagents)

Phase 3

What phase is this: Review monthly for variances, Explain any variances from budget, Make Adjustments

Phase 4

What involves setting minimum and maximum levels of quantity?

Inventory Management

What aspect of inventory management is based on lead time to shipment time frame?

Minimum Amount (Re-Order Level)

What aspect of inventory management eliminates expired supplies?

Maximum Amount

What aspect of inventory management reduces inventory expense?

Maximum Amount

Members of Budget Formulation Team

Head Of Procurement Entity (Director)
Fiscal Deputy Director
Head of Budget &Accounting
Chairman of Laboratories
Medical Technologist supervisor

What component of the budget includes supplies and expenses?

Operating (Supply & Expense)

What phase involves reviewing the strategic plan, creating wish lists, and prioritizing within the department?

Phase 1 - Planning

What phase involves negotiating the preliminary budget with administration?

Phase 2 - Budget Negotiation

What phase involves submitting the final budget to administration and receiving the approved budget?

Phase 3 - Submission & Approval

What are budget components?

Capital
Income
Operating (Supply and Expense)
Indirect Expenses (Overhead)
Personnel

New programs
Expanded programs
Reduced or discontinued programs
Revenue/profit goals
Last year's budget and management reports

includes

budget impacts

Government Laboratory Budget from Department of Budget
Management.
• Private laboratory from the corporate stocks of investors.
• Health Maintaining Organizations.
• Income from laboratory procedures.

this are?

healthcare financing

What challenge in Philippine laboratory budgeting involves public vs. private funding constraints?

Funding Sources

What challenge in Philippine laboratory budgeting involves increasing prices of reagents and imported supplies?

Rising Costs

What challenge in Philippine laboratory budgeting involves compliance with minimum wage laws and professional fees for licensed medical technologists?

Personnel Costs

What challenge in Philippine laboratory budgeting involves meeting DOH licensing requirements and ISO accreditation costs?

Regulatory Compliance

What way of acquiring laboratory equipment involves either purchasing or renting?

Purchase or Rental

What consideration involves reducing the cost of the asset over its expected life?

Depreciation

What inventory management method guarantees delivery at the exact time of need?

"Just-in-Time" Inventory Management

What point occurs when revenue equals expenses?

"Break-even" Point

What process involves performing initial calibration using calibrators or standards and following manufacturer's instructions?

Equipment Calibration

What process involves determining the frequency of routine calibrations?

Equipment Calibration

What process involves testing samples with known values and establishing the stability and uniformity of the temperature?

Performance Evaluation

What process involves monitoring instrument parameters periodically, daily, weekly, monthly, or after instrument repair?

Function Checks

What maintenance type involves systematic and routine cleaning, adjustment, and replacement of equipment parts?

Preventive Maintenance

What maintenance aspect involves assigning responsibility for oversight and developing written policies and procedures for maintaining equipment?

Maintenance Plan

What maintenance aspect involves developing the format for records, creating logs and forms, and establishing processes to maintain records?

Maintenance Plan

What maintenance aspect involves training staff on the use and maintenance of equipment?

Maintenance Plan

What maintenance aspect ensures that all staff understand their specific responsibilities?

Maintenance Plan

what do you call this

Identify the source of the Problem:
o Sample
o Reagent
o Water
o Electricity
o Temperature

troubleshooting

what do you call this

inhouse laboratory personnel
manufacturer engineer

service repair