Question

The following are financial and operational data for Local Community Hospital (2017): No of beds 500 No. of inpatients for one day 275 Total inpatient admissions 27,250 Total inpatient days 136,250 Total visits (inpatient and outpatient) 50,000 Total Revenues $10,000,000 Total Costs $7,500,000 Payment percentage of revenues: Medicare 45% Medicaid 30% Private Insurance 15% Self-Pay (Uninsured) 10% Using the information above, find: (20 points) 1. The occupancy rate for one day (1 point) 2. Total hospital inpatient capacity in days, or total number of available bed days (2 points) 3. The average length of stay (1 point) 4. The total occupancy rate (1 point) 5. The outpatient volume (1 point) 6. The inpatient volume percentage (1 point) 7. The outpatient volume percentage (1 point) 8. Total revenues from inpatient admissions (2 points) 9. Total revenues from outpatient visits (2 points) 10. Profit per patient (3 points) 11. Total revenues from Medicare (1 point) 12. Total revenues from Medicaid (1 point) 13. Total revenues from private insurance (1 point) 14. Total revenues from Self-Pay (1 point) 15. Total profit (1 point) PLEASE PROVIDE DETAILED STEP BY STEP SOLUTIONS (Fundamentals of Healthcare Finance) Someone previously attempted to answer the questions but only answered 4 of the 15 questions presented. Thanks for the help!!!

Answer 1

1, occupancy rate for one day:
?    inpatient/bed daysx100= 275/500x100=55%
2,Inpatient capacity in days 175.806%
?3, average length of stay is calculated by 1,36,250/27,250= 5%
?4, The total occupancy rate: inpatient days of care/bed days availablex100== 1,36,250/500x100=27,250
5, out patient volume:    30/50,000x100= 0.06%
?6, inpatient volume percentage= 30/50000x100=0.06%
?7, The potpatient volume percentage= 30/50000x100=0.06%
8, total revenuefrom inpatientadmission =total inpatient revenue/total patient revenuex100=50,000/10,000,000x100=0.5%
?9,total revenue from outpatient visit= total out patient revenue/total patient revenuex100=50,000/10,000,000x100=0.5%
?