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Calculate the gross and net revenue budget for your multi-specialty medical practice. Each of the five physician providers plans to see 5,000 visits in the
Calculate the gross and net revenue budget for your multi-specialty medical practice. Each of the five physician providers plans to see 5,000 visits in the budget Expense Items Amount Expense Item 1 V $1,529,880 Expense Item 2 F 5,500 Expense Item 3 V 6,564,880 Expense Item 4 V 3,510,000 Expense Item 5 F 120,500 Expense Item 6 F 450,400 Total $12,181,160 year. The price for each visit is $175.00 which is charged to each of the five insurance plans that cover the patients in the practice.
\begin{tabular}{|l|c|c|} \hline Insurance Plan & Business Share & Collection Rate \\ \hline Program 1 & 20% & 50% \\ \hline Program 2 & 10% & 25% \\ \hline Program 3 & 20% & 80% \\ \hline Program 4 & 20% & 55% \\ \hline Program 5 & 30% & 75% \\ \hline \end{tabular} \begin{tabular}{|l|c|c|} \hline Insurance Plan & Business Share & Collection Rate \\ \hline Program 1 & 20% & 50% \\ \hline Program 2 & 10% & 25% \\ \hline Program 3 & 20% & 80% \\ \hline Program 4 & 20% & 55% \\ \hline Program 5 & 30% & 75% \\ \hline \end{tabular}Step by Step Solution
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