PART 1: Net Revenue per Patient
Using the Patient Cost Analysis Form in the Appendix from your "Revenue Management Manual" text (Form A26), calculate your current costs per patient using the following information.
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Total Number of Patients
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16,245
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Total Expenses
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$568,758
|
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Fixed Expenses
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$389,600
|
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Total Annual Revenue
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$1,090,800
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What is the Net Revenue per patient?
PART2: Reviewing the Budget
Use the Operating Budget A (Tab "Operating Budget A" in theOperating_Budget_11-11-14.xls file.
Compare the month of January to the Month of June.
A. Were these months over-budget or under-budget and why?
B. As an office manager what do you see that can be listed as issues in these months?
PART3: Preparing a Budget for 2012
Use Budget C (located on the 3rdtab "Budget C" in the Operating_Budget_11-11-14.xls file. ). Make the following adjustments and share your results:
A. Clinic Revenue is expected to grow by 3% due to the signing of a new managed care contract. What is the new (monthly) dollar amount for patient revenue due to the 3% increase?
B. The cost of expenses is expected to increase to 1.5%. What is the new (monthly) dollar amount for the cost of expenses?
C. A new roof is needed which will cost $50,000.
Prepare a new 12 month budget to show the 3% growth in patient revenue, the 1.5% cost of expenses and the cost of the new roof. You can use MS Excel, the 5th tab of the Operating_Budget_11-11-14.xls file titled "YOUR PART 3 ASSIGNMENT HERE";OR, you can use MS Word or Wordpad.
Attachment:- operating_budget_11-11-14_1.xlsx