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How could a hospital firm use the mix variance to analyze its revenues? How could a...

How could a hospital firm use the mix variance to analyze its revenues?

How could a hospital firm use the mix variances to analyze salary costs regarding emergency room services?

Please write 4-5 paragraphs.

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Answer #1

Answer:

To calculate sales mix varience, start with the actual number of unit your business sold of each product. Multiple that number by the actual sales mix percentage for the product, Minus the budgeted sales mix percentage. Remember that sales mix percentage is the product's percentage of total sales.

Hospital are paid for patient case in numerous ways. The recogniaiton of reveune depends on payment method. Patients Revenue for a particular month is sum of the following

  • The full fees for all admitted patient during the month
  • The prorated portion of total revenue for all patient admitted ina previous month and discharged this month.
  • The prorated portion of all patient who are still in the facility

Revenue recognition is simple for outpatient Activity. Since service is rendered on one day basis, there are no allocation issues.

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