Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Part 1 Your present length of stay on Medicare patients is 6 . 3 days for 2 , 0 0 0 Medicare admissions. This value

Part 1
Your present length of stay on Medicare patients is 6.3 days for 2,000 Medicare admissions. This value is unadjusted for case-mix effects. You have discovered that a normal length of stay should have been 5.0 days. If this level had been realized, you would have had 2,600 fewer days of care for Medicare patients. You are trying to determine the amount of actual savings that would be realized if the shorter length of stay could be achieved. You have been told that a shorter length of stay would affect only direct costs of nursing. Your present direct cost of nursing per day is $300. Some of this cost is considered fixed and would not be changed. If 60% of the nursing cost were considered variable, how much savings would be realized through the length of stay reduction?
Part 2
Operating margins in your hospital have been consistently below national norms for the past 3 years. Discuss the factors that might have created this situation and the ways in which you might determine specific causes. include 3 references

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_2

Step: 3

blur-text-image_3

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

Fundamentals Of Investing

Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk

14th Edition

0135175216, 978-0135175217

More Books

Students also viewed these Finance questions

Question

how many times

Answered: 1 week ago

Question

Review the determinants of direct financial compensation.

Answered: 1 week ago