Homework: Healthcare Finance
Details
PART I
Your facility has 2000 cases in the following payer mix:
i. 40% commercial insurances
ii. 25% Medicare insurance
iii. 15% Medicaid insurance
iv. 15% liability insurance
v. 5% all others, including self-pay
What are the proportions of the total cases for each payer?
PART II
The average Medicare rate for each case is $6,200. Use this as the baseline. Commercial insurances average 110% of Medicare, Medicaid averages 65% of Medicare., Lliability insurers average 200% of Medicare, and the others average 100% of Medicare rates.
i. Calculate the individual reimbursement rates for all 5 payers?
ii. What is your expected Accounts Receivable?
PART III
Which of the following costs are fixed, which are variable, and which are direct or indirect:
i. Materials/supplies (gowns, drapes, bedsheets)
ii. Wages (nurses, technicians)
iii. Utility, building, usage exp (lights, heat, technology)
iv. Medications
v. Licensing of facility
vi. Per diem staff
vii. Insurances (malpractice, business, and so on)
PART 4
Given the following costs per case:
i. Materials/supplies: $2,270
ii. Wages: $2,000
iii. Utility, building, usage exp: $1,125
iv. Insurances (malpractice, business, and so on): $175
What is the total cost of all combined cases?
PART 5
Calculate the difference between accounts receivable (A/R) and accounts payable (A/P).
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.