Question
PLEASE COMPLETE HIGHLIGHTED AREAS. Consider the following: Improvement of revenues over 1, 5 and 10 years? Initial investment cost and would it be worth it
PLEASE COMPLETE HIGHLIGHTED AREAS.
Consider the following: Improvement of revenues over 1, 5 and 10 years? Initial investment cost and would it be worth it to implement a more expensive option if revenues were greater over 10 years coupled with error reductions in billings?
Errors Breakdown:
Services Provided on Yearly Basis:
Year | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
Services Provided | 1000 | 1020 | 1050 | 2000 | 2500 | 2750 | 3000 | 3400 | 3600 | 4000 |
Expected Errors in billing *prior to implementation of an option below | 100 | 110 | 150 | 180 | 220 | 240 | 270 | 330 | 340 | 360 |
Option 1:
Cost of Implementation $100,000.00
Subscription Cost: 1,000/month for 10 years
Net Patient Services Revenue Increase YoY 5%
Year 1
Year 5
Year 10
This option includes incremental headcount in the Billings Department and the implementation of a system that would track and prevent errors upon billing coding. If you implement this option, billing errors would be reduced by 20%.
Statement of Operations
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