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It is January 2, 2012 and you have started your first day of work as the Practice Administrator for the Tri-Cities Geriatric Center (a physician

  1. It is January 2, 2012 and you have started your first day of work as the Practice Administrator for the Tri-Cities Geriatric Center (a physician practice serving older adults). Your first job is to project a budget for calendar year 2012. In gathering information for this task, you come across budgets for the past 3 years. However, the former Director did not complete budget worksheets (maybe the reason he was fired), so you dont have complete information.
  1. Complete the CY 2009, 2010, and 2011 budgets (Table 1a). 2 points
  2. CY 2009 CY2010 CY2011
    Number of visits 12,000 12,120 12,241
    Private insurance visits 9,793
    TennCare visits 2,400 2,424
    Net Revenue $557,520 $563,090
    Private revenue $480,000 $484,800
    TennCare revenue $72,000 $73,440
    Expenses
    Salaries and wages $134,933 $136,283 $137,644
    Physician fees $179,512 $181,307 $183,119
    Malpractice insurance $32,013 $32,333 $32,656
    Travel and education $4,488 $4,533 $4,578
    General insurance $8,377 $8,461 $8,546
    Utilities $12,267 $12,389 $12,513
    Equipment and lease $1,496 $1,511 $1,526
    Other operating expenses $89,756 $90,654 $91,559
    Total Operating Expenses $462,842 $467,471 $472,141
    Net profit (loss)

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