Brookside Hospital: preparing a departmental budget from the given data – savvyessaywriters.net | Savvy Essay Writers

Brookside Hospital: preparing a departmental budget from the given data – savvyessaywriters.net | Savvy Essay Writers

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Prepare a professional document to present to the VP of Radiology which will include separate tables for each of the following:1. Prepare a statistics budget summary by procedure and payer2. Prepare a gross and net revenue worksheet by procedure and payer. Hint: prepare a table for each procedure and then one for the total of all procedures.3. Prepare an expense worksheet based on the volume increases and the rate increases for each of the three types of expenses.Do not separate the expenses by procedure only by type of expensBrookside Hospital: preparing a departmental budget from the given dataBrookside Hospital’s imaging for hand, foot and forearm is a sub-unit of the Radiology department. They project ending the current year (2017) with 2,000 total procedures broken down as follows:ProcedureTime   RequiredVolume   proportionRate(Charge)Hand imaging10   minutes60%$100Foot imaging20   minutes30%$300Forearm imaging30   minutes10%$400This sub-unit accounts for 20% of the Radiology department’s current expenses of $1,225,000 broken down as follows:ExpenseAmountLabor$425,000Imaging   Materials$300,000Overhead$500,000Total$1,225,000PayerVolume proportionReimbursementMedicare50%70%   of chargesMedicaid20%50%   of chargesManaged   care20%80%   of chargesSelf   Pay10%100%   of charges ** 20%   of the self pay result in charity carePayer Mix and Reimbursement is as follows:Budget Assumptions for 2018:· Volume increase is expected to be 10% with the same procedure mix· Due to volume increase, all three expenses are expected to increase 10%, in addition:· Labor rates are expected to increase 5% due to merit increases· The cost of Imaging materials are expected to increase 6%· Overhead rate is expected to stay the sameRequired:Prepare a professional document to present to the VP of Radiology which will include separate tables for each of the following:1. Prepare a statistics budget summary by procedure and payer2. Prepare a gross and net revenue worksheet by procedure and payer. Hint: prepare a table for each procedure and then one for the total of all procedures.3. Prepare an expense worksheet based on the volume increases and the rate increases for each of the three types of expenses.Do not separate the expenses by procedure only by type of expense.4. Prepare a summary income statement for overall revenues and expenses.Include appropriate header.Rubrics:Problem 1: 25%Problem 2: 25%Problem 3: 25%Problem 4: 25%e.4. Prepare a summary income statement for overall revenues and expenses.Include appropriate header.

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