SuperTutor
$15/per page/Negotiable
HM2010: Week 1 Assignment Worksheet
Type your name here Before you begin, save this document to your computer. You will need to submit your answers in the
area indicated below. DIRECTIONS:
1. Read pages 1-3, 94-107 and 122 of your Revenue Management Manual textbook.
2. Answer the following all questions in this 3 part assignment.
3. Please remember to SAVE this document to your computer or “My Documents” on your computer.
4. Submit the saved file to your “Assignment Drop Box”.
Tips for answering questions: Read the question more than twice, if necessary, to make sure you understand what you are asked to do.
Find the key words in each question and construct your answer to address those key words or phrases of the
question.
Your answer should be organized and to the point.
Keep your sentences short and simple. Pay attention to the answer length requirements (if stated).
If necessary, go the extra mile and give examples or show your work to illustrate your point. Before you continue: Did you save this document to your computer?
o No: Please save this document to your computer now.
o Yes: Great! Let’s get to work!
(See next page for part 1) 1 HM2010: Week 1 Assignment Worksheet PART 1: Net Revenue per Patient
Using the Patient Cost Analysis Form in the Appendix from your "Revenue
Management Manual" text (Form A26), calculate your current costs per patient
using the following information.
Total Number of Patients
Total Expenses
Fixed Expenses
Total Annual Revenue 16,245
$568,758
$389,600
$1,090,800 10
points What is the Net Revenue per patient? Directions to complete Question 1: TIP: Review page 98 in the Revenue Management Manual Answer:
Line 1
Line 2
Line 3
Line 4 Total number of Patients
Total Expenses
Fixed Expenses
Total Patient Expenses =
Total Expenses (Line 2) minus Fixed Expenses (Line 3): round to the
nearest dollar
Total Annual Revenue = Total Receipts
Gross Revenue per Patient =
Total Annual Revenue (Line 5) divided by Total number of Patients (Line
1): round to the nearest dollar
Total Cost per Patient =
Total Expenses (Line 2) divided by Total number of Patients (Line 1):
round to the nearest dollar
Net Revenue per Patient =
Gross Revenue per Patient (Line 6) minus Total Cost per Patient (Line 7):
round to the nearest dollar Line 5
Line 6
Line 7
Line 8 16,245
$ 568, 758
$ 389, 600
179,158 Line 1
Line 2
Line 3
Line 4 $ 1, 090, 800
67.15 Line 5
Line 6 35.01 Line 7 32.14 SAVE YOUR ANSWERS . . . .SAVE YOUR DOCUMENT BEFORE YOU SUBMIT THIS ASSIGNMENT
(See next page for part 2)
2 Line 8 HM2010: Week 1 Assignment Worksheet PART 2: Reviewing the Budget
Use the Operating Budget A (Tab “Operating Budget A” in the
Operating_Budget_11-11-14.xls file.
Compare the month of January to the Month of June. 30
points A. Were these months over‐budget or under-budget and why?
B. As an office manager what do you see that can be listed as issues in
these months? Directions to complete Question 2: Use short responses, in complete sentences with proper grammar and spelling
Your answer should be no less than 4 to 8 sentences. TIP for Calculations
1) Use the “Operating Budget A”.
2) Review “Preparing a Budget” in the Highlights/Summary in Week one weekly materials
3) Compare the months of January to the month of June (cells shaded in yellow)
4) Answer (A): Were these months over budget or under budget and why?
5) Answer (B): As an office manager what do you see are the issues in these months? Example: Marketing
increased significantly to $16,070.00 in April from $4,778 in January and March. Answer (A):
The month of January is over budget, I can see that the income is $329,259.68. The end of the month expenses for
January is $409,826.20. It ends with a negative net income of $80,556.52. In the month of February it is under
budget. The income is $329,259.68 and the expenses are $233,287.26. It ended up with the net income of
$95,972.32. March is under budget net income is $329,259.68 and the expenses are $236,880.68. They ended up
with the net income of $92,379.00. The income of April is the same as the other months and under budget. The
expenses are $244,723.13 .The net income is $84,539.55. In the month of May is way under budget and with the
same income. The expenses $227,788.83 and the net income is $101,470.86. June’s income is the same as the other
months. Just this one is slightly under budget. Expenses are $293,670.42 and the net income is $35,589.26. 3 HM2010: Week 1 Assignment Worksheet Answer (B):
What I can see is that they cut down and cut off some money of the expenses of the clinic. The expenses the clinic cut
off are the Payroll Taxes-FUTA, and Payroll Taxes-SUTA. As well they cut down the Salaries-Physician Owners Payroll
Taxes-FICA, Insurance-Physician, Dues, Memberships, License Fees, Payroll Taxes-FUTA Staff, and Pension &
Retirement Benefits. By the time of April they increase some things but not much. By June they increase the salaries
of the physician owners. Wish I guess they complain about. I would have complained if my salary was cut drastically
and increase by the month of May.
SAVE YOUR ANSWERS . . . .SAVE YOUR DOCUMENT BEFORE YOU SUBMIT THIS ASSIGNMENT
(See next page for part 3) PART 3: Preparing a Budget for 2012
Use Budget C (located on the 3rd tab “Budget C” in the Operating_Budget_11-1114.xls file. ). Make the following adjustments and share your results:
A. Clinic Revenue is expected to grow by 3% due to the signing of a new
managed care contract. What is the new (monthly) dollar amount for
patient revenue due to the 3% increase?
B. The cost of expenses is expected to increase to 1.5%. What is the new
(monthly) dollar amount for the cost of expenses? 35
points C. A new roof is needed which will cost $50,000.
Prepare a new 12 month budget to show the 3% growth in patient revenue, the
1.5% cost of expenses and the cost of the new roof. You can use MS Excel, the 5th
tab of the Operating_Budget_11-11-14.xls file titled “YOUR PART 3 ASSIGNMENT
HERE”; OR, you can use MS Word or Wordpad. TIP for Calculations
1) Use Budget C and make the following adjustments:
a. Clinic Revenue is expected to grow by 3% due to the signing of a new managed care contract =
(Total Clinic Revenue X 3%)
b. Cost of expenses is expected to increase to 1.5% (Total Expenses X 1.5%) 4 HM2010: Week 1 Assignment Worksheet 2) A new roof is needed which will cost $50,000 (divide this amount over a period of 12 month to get the
amount per month then add the total amount of the roof to the Total expenses to get your (new) overall
Total Expenses) SEE “PART 3 EXAMPLE BUDGET D”.
3) NOTE: Be sure to add the amount that reflects the 3% growth in clinic revenue and the 1.5% increase in
total expenses, along with your cost of the new roof. SEE “PART 3 EXAMPLE BUDGET D”.
4) (Please Review the Budgeting Highlights/ Summary and Page 94-95 of the Revenue Management Manual
Answer:
Type your answer here
SAVE YOUR ANSWERS . . . .SAVE YOUR DOCUMENT BEFORE YOU SUBMIT THIS ASSIGNMENT You will earn additional points if you: correctly submit the worksheet to the assignment dropbox. use proper sentence structure, grammar and spelling. 80
points TOTAL POINTS NEED MORE HELP?
Visit the STUDENT SUCCESS CENTER!
Contact your INSTRUCTOR, ADVISOR,
ACADEMIC COACH 5 5 points
Attachments: