Assume your organization has 100 patients analyzed in the following manner: 15 Medicare patients, who pay$2,000...
Assume your organization has 100 patients analyzed in the following manner: 15 Medicare patients, who pay$2,000 per diagnosis 25 Medicaid patients, who pay $1, 800 per diagnosis 20 managed care patients, who pay charges minus a 20% discount 10 managed care patients, who pay charges minus a 25% discount 10 private insurance patients, who pay charges 10 charity care patients, who pay nothing 10 bad debt patients, who pay nothing Your organization's average cost per patient is $2,000. Calculate the charge necessary to recover your cost How would you put this an excel
Homework Answers
Answer:
| TOTAL NO.OF PATIENTS=100 | ||
| COST PER PATIENT=$2,000 | ||
| TOTAL COST TO BE RECOVERED=$2,000*100=$200,000 | ||
| LET THE CHARGE FROM EACH PATIENT BE X | ||
| PAYMENT RECEIVED: | ||
| NO.OF PATIENTS | AMOUNT($) | Calculation |
| 15 | 30,000 | (2000*15) |
| 25 | 45,000 | (1800*25) |
| 20 | 20*X-20%=16X | |
| 10 | 10*X-25%=7.5X | |
| 10 | X | |
| 10 | - | |
| 10 | - | |
| TOTAL | 75,000+24.5X | |
| THEREFOR $75,000+24.5X=$200,000 | ||
| 24.5X=125,000 | ||
| X=$5,102.04 | ||
| THE CHARGE NECESSARY TO RECOVER THE COST IS $ 5,102.04 | ||
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