XYZ medical clinic has the following estimates and assumptions for 2020: The clinic anticipates 200 patient visits per month for Medicare patients The clinic anticipates 150 patient visits per month for self-pay patients The average charge (reimbursement) per visit will be $75 for Medicare patients The average charge (reimbursement) per visit will be $80 for self-pay patients Salaries and wages are an expected $150,000 for the year Rent is anticipated to be $3,000 per month Supplies costs are estimated to be $20 per patient visit regardless of payer . Using the information above, create the simple budget for the clinic in Microsoft Excel. Note that the budget should be based on annual amounts. . . At the end of the first year of operations, the following was observed: There were 215 patient visits per month for Medicare patients There were 140 patient visits per month for self-pay patients The average charge (reimbursement) per visit was $70 for Medicare patients The average charge (reimbursement) per visit was $90 for self-pay patients Salaries and wages were $165,000 for the year Rent was $2,800 per month Supplies costs were $20 per patient visit regardless of payer . 1) Using the exhibit 6.3 (page 172 of the text) for Carroll Clinic as a reference, create a variance analysis for XYZ clinic given the excel template in the Course Materials. 2) Interpret the information from the analysis using Slide 13 of the Power Point as a reference. 3) Lastly, which areas of the budget need improvement? Offer two suggestions for improving low performing areas in the budget. Please note that the excel sheet has been pre-formatted. You do not need to enter details such as the dollar signs. Negative variances will be red with parentheses. Do not use the Mac version of Excel (Numbers) to complete this assignment. XYZ medical clinic has the following estimates and assumptions for 2020: The clinic anticipates 200 patient visits per month for Medicare patients The clinic anticipates 150 patient visits per month for self-pay patients The average charge (reimbursement) per visit will be $75 for Medicare patients The average charge (reimbursement) per visit will be $80 for self-pay patients Salaries and wages are an expected $150,000 for the year Rent is anticipated to be $3,000 per month Supplies costs are estimated to be $20 per patient visit regardless of payer . Using the information above, create the simple budget for the clinic in Microsoft Excel. Note that the budget should be based on annual amounts. . . At the end of the first year of operations, the following was observed: There were 215 patient visits per month for Medicare patients There were 140 patient visits per month for self-pay patients The average charge (reimbursement) per visit was $70 for Medicare patients The average charge (reimbursement) per visit was $90 for self-pay patients Salaries and wages were $165,000 for the year Rent was $2,800 per month Supplies costs were $20 per patient visit regardless of payer . 1) Using the exhibit 6.3 (page 172 of the text) for Carroll Clinic as a reference, create a variance analysis for XYZ clinic given the excel template in the Course Materials. 2) Interpret the information from the analysis using Slide 13 of the Power Point as a reference. 3) Lastly, which areas of the budget need improvement? Offer two suggestions for improving low performing areas in the budget. Please note that the excel sheet has been pre-formatted. You do not need to enter details such as the dollar signs. Negative variances will be red with parentheses. Do not use the Mac version of Excel (Numbers) to complete this assignment
