The below table shows the number of operations with 78 Beds (26 patients per day). Each...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The below table shows the number of operations with 78 Beds (26 patients per day). Each row in the table shows the number of patients who checked in on a given day. The columns indicate the number of patients in the hospital on a given day. Patients check in to the hospital the day before their operation is scheduled and stay there for three days. CHECK-IN DAY Monday MONDAY 26 Tuesday 26 Wednesday 2220 25 TUESDAY WEDNESDAY 26 BEDS REQUIRED THURSDAY FRIDAY SATURDAY SUNDAY 26 26 26 Thursday 2220 26 26 26 26 26 26 Friday Saturday Sunday 26 26 26 Total 52 78 78 78 52 26 26 For example, the first row of the table shows that 26 people checked in on Monday and were in the hospital for Monday, Tuesday, and Wednesday. By summing the column of the table for Wednesday, we can find that there are 78 patients staying in the hospital that day. The medical facilities at Shouldice consist of five operating rooms, a patient recovery room, a laboratory, and six examination rooms. An operation at Shouldice Hospital is performed by one of the 12 full-time surgeons assisted by one of seven part-time assistant surgeons. Surgeons generally take about one hour to prepare for and perform each hernia operation. Now look at the effect of increasing the number of beds by 50 percent. Although financial data are sketchy, an estimate from a construction company indicates that adding bed capacity would cost about $100,250 per bed. In addition, the rate charged for the hernia surgery varies between about $700 and $2,150 (U.S. dollars), with an average rate of $1,100 per operation. The surgeons are paid a flat $400 per operation. How many weeks would it take the hospital to payback its investments? Note: Round your answer to 1 decimal place. Payback weeks The below table shows the number of operations with 78 Beds (26 patients per day). Each row in the table shows the number of patients who checked in on a given day. The columns indicate the number of patients in the hospital on a given day. Patients check in to the hospital the day before their operation is scheduled and stay there for three days. CHECK-IN DAY Monday MONDAY 26 Tuesday 26 Wednesday 2220 25 TUESDAY WEDNESDAY 26 BEDS REQUIRED THURSDAY FRIDAY SATURDAY SUNDAY 26 26 26 Thursday 2220 26 26 26 26 26 26 Friday Saturday Sunday 26 26 26 Total 52 78 78 78 52 26 26 For example, the first row of the table shows that 26 people checked in on Monday and were in the hospital for Monday, Tuesday, and Wednesday. By summing the column of the table for Wednesday, we can find that there are 78 patients staying in the hospital that day. The medical facilities at Shouldice consist of five operating rooms, a patient recovery room, a laboratory, and six examination rooms. An operation at Shouldice Hospital is performed by one of the 12 full-time surgeons assisted by one of seven part-time assistant surgeons. Surgeons generally take about one hour to prepare for and perform each hernia operation. Now look at the effect of increasing the number of beds by 50 percent. Although financial data are sketchy, an estimate from a construction company indicates that adding bed capacity would cost about $100,250 per bed. In addition, the rate charged for the hernia surgery varies between about $700 and $2,150 (U.S. dollars), with an average rate of $1,100 per operation. The surgeons are paid a flat $400 per operation. How many weeks would it take the hospital to payback its investments? Note: Round your answer to 1 decimal place. Payback weeks
Expert Answer:
Related Book For
Operations And Supply Chain Management The Core
ISBN: 9781264098378
6th Edition
Authors: F. Robert Jacobs, Richard Chase
Posted Date:
Students also viewed these finance questions
-
1.Suppose you are 35 years old and plan to retire in 30 years at age 65, after which you plan to live for another 15 years after retirement.Assuming that the interest rate from now until the end of...
-
Apparent Limits rf cf ref 91 100 3 0.06 50 1 81-90 16 0.12 47 0.94 71-80 10 0.2 41 0.82 61-70 9 0.18 31 0.62 51-60 7 0.14 22 0.44 41-50 4 0.08 15 0.3 31-40 3 0.06 11 0.22 21-30 3 0.06 8 0.16 11-20 2...
-
Shouldice Hospital in Canada is widely known for one thing hernia repair! In fact, that is the only operation it performs, and it performs a great many of them. Over the past two decades, this small...
-
Why should one-time write-offs of fixed capital be used in absorption cost systems?
-
Would we have "big data" if we did not have the Internet and World Wide Web?
-
Model an attack by a remote user accessing the university network via the Internet. Explore attack vectors and attackers' goals. Here "model" means to describe in detail step-by-step. Don't simply...
-
Calculate the dividend payout for Evans \& Sons for 2018 and 2019. Did the dividend payout increase from 2018 to 2019 ? Evans \& Sons, Inc., disclosed the following information in a recent annual...
-
Milano Pizza is a small neighborhood pizzeria that has a small area for in- store dining as well as offering take-out and free home delivery services. The pizzerias owner has determined that the shop...
-
Is it true that "in Australia, in a court room, when the judge comes in, everyone should stand up and sit down upon the permission of the judge"?
-
The module for this chapter focuses on interpersonal skills. The concepts segment discusses the Competing Values Framework, and identifies the broad range of skills managers need to lead their...
-
Cork University Business School (CUBS) have asked you to make a report on the activities carried out on their social media channels to measure their effectiveness at increasing brand awareness of the...
-
All Or Muffin company has the following financial information: Revenue 1,880,000 Variable Costs $639,200 Contribution Margin $1,240,800 Fixed Costs $ 460,800 Operating Income $780,000 Taxes $210,600...
-
1. (a) Derivation of Black-Scholes-Merton Option Pricing Formula from Binomial Tree Suppose that a binomial tree with time steps used to value a European call option with strike price K and life T....
-
Two forces are acting on the ring in Figure 22. What is the net force acting on the ring? Figure 22 500.0 N +y 400.0 N 40.0 50.0 +x
-
What are the challenges of internal competition and budgeting? What are the pros and cons of decentralization?
-
Explore the various theories of public policy. The readings introduced you to many different theories, but the discussion will focus on three: elite theory, group theory, and institutional theory. As...
-
Define a class called Book. The Book class should store attributes such as the title, ISBN, author, edition, publisher, and year of publication. These attributes must be private. Provide public...
-
For Problem estimate the change in y for the given change in x. y = f(x), f'(12) = 30, x increases from 12 to 12.2
-
Determine the maturity date and maturity value of each of the following notes. (Assume a 360-day year in computing interest and maturity values, but count actual days to the maturity dates.) a. A...
-
The polishing department of Taylor Manufacturing Company operated during April 2016 with the following manufacturing overhead cost budget based on 5,000 hours of ax monthly productive capacity: The...
-
The market values of some marketable securities may change from day to day. How do these changes in market value affect the investor's taxable income?
Study smarter with the SolutionInn App