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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

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