Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Heath System has annual net patient service revenues of $65,000,000. It has two major third-party payers, plus some of its patients are self-payers. The hospital's

Heath System has annual net patient service revenues of $65,000,000. It has two major third-party payers, plus some of its patients are self-payers. The hospital's patient accounts manager estimates that 20 percent of the hospital's paying patients (its self-payers) pay on Day 30, 50 percent pay on Day 60 (Payer A), and 30 percent pay on Day 90 (Payer B). What is the average collection period? (Assume 360 days per year)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Finance questions