1. Dr. Thurmond Secord is analyzing past financial performance to determine what actions the practice needs to take to increase net income. Using the table
1. Dr. Thurmond Secord is analyzing past financial performance to determine what actions the practice needs to take to increase net income. Using the table below, calculate the profit margin per payer and profit per patient.
| Service | Patients | Revenue | Profit |
| Commercial | 513 | $62,000 | $6,250 |
| Managed care | 1,798 | 198,000 | 12,500 |
| Medicare | 2,054 | 268,000 | 5,500 |
| Medicaid | 514 | 82,000 | -8,000 |
| Self pay/Charity | 257 | 32,000 | -7,000 |
| 5,136 | $642,000 | $9,250 |
Step by Step Solution
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Explanation To calculate the profit margin per payer and profit per patient you can ...
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Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
10th Edition
1119491630, 978-1119491637, 978-0470534793
