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This question was answered by kdixit Nov 17, 2014 @ 8:18pm but the answer was in excel, I need the answer in word, is there
This question was answered by kdixit Nov 17, 2014 @ 8:18pm but the answer was in excel, I need the answer in word, is there a way to get this in word? I used one of my credits already so I can see the answer, attached is the question . Thank you, Luisa
ANALYZING BAY PINES MEDICAL CENTER'S FINANCIAL STATEMENT After gaining an understanding of the components of a financial statement, analyzing and applying what the components represent, in terms of future planning, are the most important aspects of working in healthcare finance. Consider the following data and make your best analysis of per member per month (PMPM) rates, considering reductions in utilization or pricing. Bay Pines Medical Center estimates that a capitated population of 50,000 would have the following base case utilization and total cost characteristics: Inpatient Days Average Cost Service Category per 1,000 Enrollees per Day General 150 $1,500 Surgical 125 $1,800 Psychiatric 70 $700 Alcohol/Drug Abuse 38 $500 Maternity 42 $1,500 Total 425 $1,367 In addition to medical costs, Bay Pines allocates 10 percent of the total premium for administration/reserves. On the basis of your data analysis, respond to the following: What is the PMPM rate that Bay Pines must set to cover medical costs plus administrative expenses? What would be the rate if a utilization management program were to reduce utilization within each patient service category by 10 percent? And by 20 percent? Consider the initial base case utilization assumption. What rate would be set if the average cost on each service were reduced by 10 percent? Assume that both utilization and cost reductions were made. What would the premium be? Analysis as a 3-page report in a Microsoft Word document formatted in APA styleStep by Step Solution
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