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CHAPTER 8: FINANCIAL PLANNING & BUDGETING Homework 3.4, Chapter 8 Chelsea Clinic projected the following budget information for 2021: Total FFS Visits Volume 70,000 visits

CHAPTER 8: FINANCIAL PLANNING & BUDGETING Homework 3.4, Chapter 8 Chelsea Clinic projected the following budget information for 2021: Total FFS Visits Volume 70,000 visits Payer Mix: Blue Cross 60% Highmark 40% Reimbursement Rates: Blue Cross $45 per visit Highmark $50 per visit Variable Costs Resource Inputs: Labor 0.7 total hours Supplies 1.3 total units Resource Input Prices: Labor $22.00 per hour Supplies $1.25 per unit Fixed Costs $800,000 Using Exhibit 8.3 as a guide (excluding the capitated numbers since payers in this homework problem are all FFS) construct Chelsea Clinic's operating budget for 2021, including projections for volume, revenues, costs, and a P&L statement

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