Consider the following data for Meadowbrook Health System: Fixed costs $8 million Variable cost per inpatient day = $350 Revenue per inpatient day = $1,000 What is the contribution margin?
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What is the contribution margin
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- In the cost formula, the term 128,000,000 a. is the total variable cost. b. is the dependent variable. c. is the variable rate. d. is the total fixed cost. e. cannot be determined from the above formula. Use the following information for Multiple-Choice Questions 3-4 through 3-7: The following cost formula was developed by using monthly data for a hospital. Total Cost = 128,000,000 + (12,000 Number of Patient Days)In the cost formula, the term 12,000 a. is the variable rate. b. is the dependent variable. c. is the independent variable. d. is the intercept. e. cannot be determined from the above formula. Use the following information for Multiple-Choice Questions 3-4 through 3-7: The following cost formula was developed by using monthly data for a hospital. Total Cost = 128,000,000 + (12,000 Number of Patient Days)Assume that Valley Forge Hospital has only the following three payer groups: Number of Average Revenue Payer Cost Admissions Admission PennCare $3,000 Medicare $4,000 Commercial $2,500 1,000 4,000 8,000 per Admission $5,000 $4,500 $7,000 Variable per The hospital's fixed costs are $38 million. c. What overall net income would be produced if the admission rate of the capitated group (from part B above) were reduced from the commercial level (originally listed as $2,500 total from above) by 10 percent? d. For this same capitated group, assuming that utilization reduction also occurs, what overall net income would be produced if the variable cost per admission for this same capitated group were lowered to $2,200 (from the original $2,500 listed above)?
- Assume that Valley Forge Hospital has only the following three payer groups: Payer Number of Average Revenue Cost Admissions Admission PennCare $3,000 Medicare $4,000 Commercial $2,500 1,000 4,000 8,000 per Admission $5,000 $4,500 $7,000 Variable per The hospital's fixed costs are $38 million. a. Using the profit/loss format from our textbook and PowerPoints in this module, determine the hospital's net income, therefore showing your work to demonstrate how you got to the net income answer. b. Assume that half of the 100,000 covered lives in the commercial payer group (above) will be moved into a capitated plan. All utilization and cost data remain the same. What PMPM rate will the hospital have to charge to retain its Part A net income (what you calculated above)?Super Clinics offers one service that has the following annual cost and volume estimates: Variable cost per visit = $10 Annual direct fixed costs = $50,000 Allocation of overhead costs = $20,000 Expected volume = 1,000 visits What price per visit must be set if the clinic wants to make an annual profit of $10,000 on the full cost of the service?A capitated managed care agreement with the city will bring in 400.00/month for 20 city employees, regardless if they are sick or not. Using differential cost analysis how do you calculate the full cost gain/loss and the differential cost gain/loss for two scenarios: keeping the agreement and killing the agreement?
- Assume that the manager of the rehabilitation department of Getwell Hospital is setting the price on a new outpatient service for electrical stimulation of muscles. Here are the relevant data estimates: Variable cost per visit: $15.00 Annual direct fixed costs: $650,000 Annual overhead allocation: $75,000 Expected annual visits: 8,000 What price per visit must be set for the service to breakeven?Orlando Clinic has fixed costs of $800,000, a variable cost per visit of $60, and revenue per visit of $100. For this clinic (within the relevant range), which of the following statements is most correct? O Higher volume leads to higher total costs. O Higher volume leads to higher average costs. O Higher volume leads to a higher contribution margin per unit. O Higher volume leads to lower contribution margin per unit.Please give me answer Accounting
- How do you solve for contribution margin? For general accounting questionThe Two Cost Systems Sacred Heart Hospital (SHH) faces skyrocketing nursing costs, all of which relate to its two biggest nursing service linesthe Emergency Room (ER) and the Operating Room (OR). SHHs current cost system assigns total nursing costs to the ER and OR based on the number of patients serviced by each line. Total hospital annual nursing costs for these two lines are expected to equal 300,000. The table below shows expected patient volume for both lines. Calculate the amount of nursing costs that the current cost system assigns to the ER and to the OR.45) Let's say that you work for a doctor's office and have used the simple regression method and have calculated the following cost information regarding overhead - Variable cost per patient seen - $70 Fixed costs for the month - $20,000 Average number of patients seen each month - 800 R-Square value - 0.897 Using that information, what is the average TOTAL overhead cost per patient seen ?
