Day Class Meets: using the Ratio of Cost to Charge Approach, determine the RCCs by department, the estimated cost for listed charge codes, and the charges/cost for a patient healthcare bil 1. Calculate the Ratio of Cost to Charge (RCC) for each hospital department. ChargesCost $ 4,000,000 $16,589,000 $35,910,000 $ 6,789,000 RCC Department Laboratory Radiology Nursing Unit MRI $2,000,000 $15,673,000 $ 27,890,000 $8,712,000 2. Estimate the cost for each of the following charge or service codes Unit Charge $6,000 $4,200 $2,500 $400 $1,500 $1,500 RCC Estimated Cost Service Code Nursing Unit Level 3 Level 2 Level 1 Chest 2 View MRI Head MRI Abdomen Radiology MRI Determine both the Billed Charges and Estimated Cost for the following patient bill. Acount Service Code 3. Billed Charge per Est Cost Each Billed Charges Est Cost for Code Quantity Each code for Account Account $4,200 $ 400 $1,500 123456 Level 2 Chest 2 View MRI Head Total Bill For this patient bill, the patient's health plan contract indicates the hospital will be paid $22,500. What is the profit or (loss) for this patient's bill? Show calculation of Profit or (Loss) 4