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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,
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 | Profit Margin | Profit per Patient |
| 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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