I need help answering questions 3-5
Revenue Inpatient stays Inpatient Revenue Actual Budget Variance % Variance 2,900 2,500 400 13.8% $1,522,500 $1,250,000 $272,500 17.9% 1) Did the inpatient revenue meet the budget for the month? What do you think contributed to this result? Be specific. Yes, the inpatient revenue met the budget for the month. I think the higher volume of inpatients contributed to this result. The Outpatient Procedures Outpatient Revenue 1,250 1,000 250 $293,750 $250,000 $43,750 20.0% 14.9% 2) Did the outpatient revenue meet the budget for the month? What do you think contributed to this result? Be specific. Yes, the outpatient revenue met the budget for the month. The higher number of procedu Total Revenue $1,816,250 $1,500,000 $316,250 17.4% Operating Expenses Inpatient Labor Inpatient Supplies Total Inpatient Expenses $1,350,000 $1,225,000 $125,000 $475,000 $500,000 $25,000 $1,825,000 $1,725,000 $100,000 9.3% -5.3% 5.5% 3) Did the Total Inpatient expenses meet the budget for the month? What was the expense category that contributed most to this result? Be specific. 4) Did Grayson General have a favorable month? Why or why not? Be specific. 5) For 5 Extra Credit points: What are the break even points for inpatient and outpatient Outpatient Labor Outpatient Supplies Total Outpatient Expenses $137,500 $55,000 $192,500 $150,000 $12,500 $50,000 $5,000 $200,000 -$7,500 -9.1% 9.1% -3.9% Total Operating Expenses $2,017,500 $1,925,000 $92,500 4.6% Net Revenue -$201,250 $425,000 $223,750 -111.2% Revenue Inpatient stays Inpatient Revenue Actual Budget Variance % Variance 2,900 2,500 400 13.8% $1,522,500 $1,250,000 $272,500 17.9% 1) Did the inpatient revenue meet the budget for the month? What do you think contributed to this result? Be specific. Yes, the inpatient revenue met the budget for the month. I think the higher volume of inpatients contributed to this result. The Outpatient Procedures Outpatient Revenue 1,250 1,000 250 $293,750 $250,000 $43,750 20.0% 14.9% 2) Did the outpatient revenue meet the budget for the month? What do you think contributed to this result? Be specific. Yes, the outpatient revenue met the budget for the month. The higher number of procedu Total Revenue $1,816,250 $1,500,000 $316,250 17.4% Operating Expenses Inpatient Labor Inpatient Supplies Total Inpatient Expenses $1,350,000 $1,225,000 $125,000 $475,000 $500,000 $25,000 $1,825,000 $1,725,000 $100,000 9.3% -5.3% 5.5% 3) Did the Total Inpatient expenses meet the budget for the month? What was the expense category that contributed most to this result? Be specific. 4) Did Grayson General have a favorable month? Why or why not? Be specific. 5) For 5 Extra Credit points: What are the break even points for inpatient and outpatient Outpatient Labor Outpatient Supplies Total Outpatient Expenses $137,500 $55,000 $192,500 $150,000 $12,500 $50,000 $5,000 $200,000 -$7,500 -9.1% 9.1% -3.9% Total Operating Expenses $2,017,500 $1,925,000 $92,500 4.6% Net Revenue -$201,250 $425,000 $223,750 -111.2%
