Table 31.1, Income Statement Revenue Expenses FY 2023 $1,162,350 1 2 Staff salaries & benefits $300,000 Physician salaries & benefits 540,000 Supplies 150,000 3 Equipment & facility expenses 60,000 Other expenses 30,000 $1,080,000 Profit $82,350 Patient visits 18,000 Table 31.2, Projected Patient Visits Year 12345 Projected Patient Visits 16,000 16,500 17,000 17,500 18,000 Table 31.3, Reimbursement and Payer Mix Reimbursement Medicare Managed Care Commercial Medicaid Existing Projected Reimbursement Payer Mix % Payer Mix % $52.50 50% 55% $73.50 35% 30% $105.00 10% 5% $42.00 5% 10% $68.25 100% 100% Table 31.4, Projected Practice Expenses Expenses Startup, Year 1 Year 2 Staff salaries & benefits $300,000 $300,000 Physician salaries & benefits 480,000 480,000 Supplies 133,333 137,500 Equipment & facility expenses 80,000 60,000 Other expenses 40,000 30,000 Total Expenses $1,033,333 $1,007,500

Table 31.1, Income Statement Revenue Expenses FY 2023 $1,162,350 1 2 Staff salaries & benefits $300,000 Physician salaries & benefits 540,000 Supplies 150,000 3 Equipment & facility expenses 60,000 Other expenses 30,000 $1,080,000 Profit $82,350 Patient visits 18,000 Table 31.2, Projected Patient Visits Year 12345 Projected Patient Visits 16,000 16,500 17,000 17,500 18,000 Table 31.3, Reimbursement and Payer Mix Reimbursement Medicare Managed Care Commercial Medicaid Existing Projected Reimbursement Payer Mix % Payer Mix % $52.50 50% 55% $73.50 35% 30% $105.00 10% 5% $42.00 5% 10% $68.25 100% 100% Table 31.4, Projected Practice Expenses Expenses Startup, Year 1 Year 2 Staff salaries & benefits $300,000 $300,000 Physician salaries & benefits 480,000 480,000 Supplies 133,333 137,500 Equipment & facility expenses 80,000 60,000 Other expenses 40,000 30,000 Total Expenses $1,033,333 $1,007,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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