FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Weekly cycle billing is recommended
A. For a practice with a sizeable patient load
B. To even out phone calls
C. For a consistent
D. All of the above
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- What is the net present value of the cost of treatment A. Treatment A costs $1000 now, $1000 after one year, and $1000 in year 2? (apply a discount rate of 5%). This is for healthcare management area of focus. Please show steps.arrow_forwardMercy Hospital staffs its medical/surgical floors with nurses depending on the number of pa- tients assigned to the floor and the severity of their condition. The index used to capture nurse effort is termed a relative value unit, or RVU. For example, taking vital signs for a single patient may be equal to one RVU. RVU's are then summed to estimate the total RVU requirements for the floor. From this, the nursing staff budget is determined. The medical/surgical floor is scheduled to have 25 patients for each day of the coming seven-day week. Some patients will require more nursing effort than others, depending on the severity of their conditions or their ages. The following table summarizes the expected RVU requirements for the patients: Number of Patients RVUS per Day 5 20 8 25 10 30 40 A nurse earns $180 per day and is able to perform 40 RVUS per day. a. Determine the total number of RVUS expected per day for the coming week. b. Determine the total weekly nurse budget for the coming…arrow_forwardThere are several different types of operating budgets. Which of these types of budgets do you think would be best for a hospital-based lab and why? ( 4 types of budget: (1) incremental, (2) activity-based, (3) value proposition, and (4) zero-based)arrow_forward
- To compute a daily rate that reflected the difference in demands, patients were placed in three categories according to illness severity, and the following annual data were collected: Cost of Activity Activity Driver $ 546,780 2,132,200 441,630 4,185,700 $7,306,310 Activity Lodging Monitoring Feeding Nursing care Total The demands associated with patient severity are also provided: Severity Patient Days Monitoring Hours Nursing Hours High Medium Low 7,170 10,180 3,680 $ Patient days Monitoring hours used Patient days Nursing hours High severity Medium severity Low severity 15,170 12,030 3,260 133,100 72,900 14,300 Required: 1. Suppose that the costs of daily care are assigned using only patient days as the activity driver (which is also the measure of output). Compute the daily rate using this unit-based approach of cost assignment. If required, round your answer to the nearest cent. per day 2. Compute activity rates using the given activity drivers (combine activities with the same…arrow_forwardNet Present Value and Internal Rate of Return. Below are the projected revenues and expenses for a new clinical nurse specialist program being established by your healthcare organization. The nurses would provide education while patients are in the hospital and home visits are on a fee-for-service basis after patients have been discharged Should the hospital undertake the program if its required rate of return is 12%? Note: it must be assumed that the revenues and costs in this problem represent cash flows. Present value analysis is based on cash, not revenue or expenses. Provide a response to support the findings in the table listed below. Your response should be at least a half page long in addition to the table. Please include citations. Year One Year Two Year Three Year Four Total Revenue $100,000 $150,000 $200,000 $250,000 $700,000 Costs $150,000 $150,000 $150,000 $150,000 $600,000 $ <50,000> $0 $50,000 $100,000…arrow_forwardFrom the Case Study"DISTRICT HEADQUARTER HOSPITAL: FINANCIAL FEASIBILITY STUDY" Prepare in as much detail as possible, the projected financial statements, for District Headquarter Hospital for the next six years. The financial statements should comprise projected Balance Sheets, Income Statements and Cash Flow Statements for each of these years.arrow_forward
- Journal entryarrow_forwardBelow are the projected revenues and expenses for a new clinical nurse specialist program being established by a hospital. Nurses would provide education while the patient is in the hospital and home visits after patient discharge on a fee-for-service basis. Should the hospital undertake the program if its required rate of return is 12%? Year 1 Year 2 Year 3 Year 4 Total Revenue costs 100,000 150,000 200,000 250,000 700,000 150,000 150,000 150,000 150,000 600,000 (50,000) 0 50,000 100,000 100,000arrow_forwardThe company you work for is evaluating projects to upgrade their information management systems. Two projects under consideration are an upgrade of the account management system with an IRR of 8% and an upgrade of the resource management system with an IRR of 5%. If the discount rate is actually 6%, which project should the company undertake?arrow_forward
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