AS BUDGETED | |||||||
Amount($) | Calculation | ||||||
Revenue Inpatient | 30000000 | 40000*750 | |||||
Revenue Outpatient | 5700000 | 12000*475 | |||||
Subtotal | 35700000 | ||||||
Expenses - Inpatients | 26000000 | 40000*650 | |||||
Expenses - Outpatients | 5040000 | 12000*420 | |||||
Subtotal | 31040000 | ||||||
Excess of Revenue over Expenses | 4660000 | ||||||
ACTUAL | |||||||
Amount($) | |||||||
Revenue Inpatient | 26100000 | 34800*750 | |||||
Revenue Outpatient | 6365000 | 13400*475 | |||||
Subtotal | 32465000 | ||||||
Expenses - Inpatients | 13700000 | ||||||
Expenses - Outpatients | 4620000 | ||||||
Subtotal | 18320000 | ||||||
Excess of Revenue over Expenses | 14145000 | ||||||
Comparison | |||||||
Budget | Actual | Static Budget Variance | |||||
Revenue Inpatient | 30000000 | 26100000 | 3900000 | ||||
Revenue Outpatient | 5700000 | 6365000 | -665000 | ||||
Subtotal | 35700000 | 32465000 | 3235000 | ||||
Expenses - Inpatients | 26000000 | 13700000 | 12300000 | ||||
Expenses - Outpatients | 5040000 | 4620000 | 420000 | ||||
Subtotal | 31040000 | 18320000 | 12720000 | ||||
Excess of Revenue over Expenses | 4660000 | 14145000 | -9485000 | ||||
This means that we have earned $9485000 over budgeted revenue |
Note :
There is a fault in the question -
It says actual outpatients is 120% of 12000 which comes out to be 14400
But they have given it as 13400 , so I have done it according to 13400. You can also do adjustment in value by taking 14400 instead of 13400 .
For this I have shown calculation in the last column.
You are responsible for completing a budget for an Ambulatory Clinic. Here are the assumptions: 6...
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Problem 1
Tallahassee Clinic projected the following budget information
for 2018:
Total FFS Visit Volume
90,000 visits
Payer Mix:
Blue Cross
40%
Celtic Insurance Company
60%
Reimbursement Rates:
Blue Cross
$25 per visit
Celtic Insurance Company
$20 per visit
Variable Costs – Resource Inputs:
Labor
48,000 total hours
Supplies
100,000 total units
Variable Costs – Input Prices:
Labor
$25 per hour
Supplies
$1.50 per unit
Fixed Costs (overhead, plant, and equipment)
$500,000...
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I
need to see the calculations
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