1. Dr. Thurmond Secord is analyzing past financial performance to determine what actions the practice needs to...
Fantastic news! We've Found the answer you've been seeking!
Question:
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 |
Expert Answer:
Explanation To calculate the profit margin per payer and profit per patient you can ... View the full answer
Posted Date:
