You have been asked to create a two-year revenue forecast for the local community health center. You have been provided with the following assumptions: |
||||||
Year | 2017 | 2018 | ||||
Total Office Visits |
23000 | Increase by 6% | ||||
Average Billed Charge per visit |
$ 152.00 | Increase by 5% | ||||
Average Insurance Discount per visit |
30% | 32% | ||||
Average Bad Debt per visit |
5% | 6% | (after insurance discount has been taken) | |||
Other Health Center Revenue |
$ 26,000 | $ 30,000 |
2017 | 2018 | ||||
Office Revenue | |||||
Visits | |||||
Billed charge | |||||
Billed | |||||
Allowed | |||||
Less: Bad Debt Expense |
|||||
Net Office Visit Revenue |
|||||
Other HC Revenue |
|||||
Total Health Center Revenue |
Year | 2017 | 2018 | |
Total Office visits | 23000.00 | 24380.00 | |
Average bill charged per visit | $ 152.00 | $ 159.60 | |
Office revenue | $ 3,496,000.00 | $ 3,891,048.00 | |
Less : | Average Insurance discount per visit | $ 1,048,800.00 | $ 1,245,135.36 |
Less : | Average Bad debt expense | $ 996,360.00 | $ 1,170,427.24 |
Net Office Visit Revenue | $ 1,450,840.00 | $ 1,475,485.40 | |
Other Health Care Revenue | $ 26,000.00 | $ 30,000.00 | |
Total Health Center Revenue | $ 1,476,840.00 | $ 1,505,485.40 |
Note : I have changed the preforma slightly for the sake of easy understanding, Hope you will understand
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