Using the weighted procedure method of setting rates, calculate the relative value and cost per procedure for the following lab procedures, given a total lab cost is $1.25 million and average hourly lab tech rate of $15(to calculate the RVU, divide the total sample expense by common Denominator of 0.25) Procedures Projected volumes Labor in minutes supply expense Amylase 4,000 15 0.75 Bleeding time 5,000 12 0.50 Uric Acid 3,000 10 0.50 Platelet count 7,800 9 0.25 Hematocrit 7,600 8 0.25 Calculate charges necessary to realize a 10 per cent gain at the lab using the job order costing
Using the weighted procedure method of setting rates, calculate the relative value and cost per procedure for the following lab procedures, given a total lab cost is $1.25 million and average hourly lab tech rate of $15(to calculate the RVU, divide the total sample expense by common Denominator of 0.25)
Procedures Projected volumes Labor in minutes supply expense
Amylase 4,000 15 0.75
Bleeding time 5,000 12 0.50
Uric Acid 3,000 10 0.50
Platelet count 7,800 9 0.25
Hematocrit 7,600 8 0.25
Calculate charges necessary to realize a 10 per cent gain at the lab using the
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