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Need help ASAP with this RVU question for Healthcare Financial Management. 2. The Suffolk Hospital Emergency Department performs five visit levels that vary in complexity
Need help ASAP with this RVU question for Healthcare Financial Management.
2. The Suffolk Hospital Emergency Department performs five visit levels that vary in complexity i. e. Levels 1-5. A relative value unit (RVU) analysis indicates the following RVU values. (5 points) Visit Level 1 2 3 4 5 RVU's 30 40 50 60 70 Visits 6,000 10,000 17,000 7,000 2,000 Cost Price The total annual costs to operate the Emergency Department are $5,970,000. a. Using the RVU methodology, what is the cost per visit for each emergency visit level? b. If the goal of the Emergency Department is to earn a 10% profit margin on each visit, what price should be set for each visit levelStep by Step Solution
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