Problem 16-49 Partial Operational and Financial Productivity; Medical Practice [LO 16-2] Family Medical Care (FMC) is a family medical practice with 8 physicians, a nursing staff of 10 to 12 nurses, and an administrative staff that varies from 6 to 9 personnel. Rajat Patel, the chief physician at FMC, is interested in studying the efficiency of the practice as a basis to set some benchmarks for further improvement, for rewarding his staff, and for comparing the efficiency of the FMC practice to other family medical practices. He is able to get comparable data for other practices from industry sources. So that the data are consistent with the industry sources, Patel has asked Marin & Associates, his accounting firm, to develop a set of productivity measures that would satisfy this requirement. Upon Investigation, Joseph Marin finds that the measures to be used are the partial financial and operational productivity measures as defined in the chapter. The following Information is for the last 2 years for the FMC practice: Patient visits Nursing hours used Administrative hours used Cost of nursing support per hour Cost of administration per hour Industry average financial productivity Nursing Administrative Prior Current Year Year 33,600 29,200 20,900 20,000 14,025 14,025 $ 45.00 $ 44.00 $ 30.60 $ 30.00 0.032 0.031 1.180 1.200