The financial information presented below for ABC Healthcare that was filed with
ID: 2445913 • Letter: T
Question
The financial information presented below for ABC Healthcare that was filed with the Department of Insurance. Use this data to help complete problems 1-3.
Current Year Previous Year
Cash and Short-Term Investments $34,094,076 $11,863,992
Receivables 13,036,037 15,112,834
Other Current Assets 3,650,374 6,306,384
Total Current Assets $50,780,487 $33,283,210
Long-Term Investments $134,233,202 $126,679,509
Property, Plant, and Equipment 1,108,330 2,216,891
Total Assets $186,122,019 $162,179,610
Current Liabilities $70,301,625 $66,950,203
Other Liabilities 4,017,789 3,949,442
Net Worth 111,802,605 91,279,965
Total Liabilities and Net Worth $186,122,019 $162,179,610
Member Months 4,820,351 4,721,314
Premium Revenue $512,600,104 $515,079,684
Medicaid Revenue 58,969,632 63,979,870
Investment Income 8,637,915 6,640,969
Total $580,207,651 $585,700,523
Physician Services 157,313,074 148,868,294
Other Professional 23,733,163 21,526,611
Inpatient 110,813,471 113,989,688
Incentive Pool 1,834,583 4,677,527
Outpatient 103,981,202 97,746,260
Pharmacy 62,764,866 67,567,497
Access Fees 341,685 402,285
Reinsurance 2,321,544 1,682,121
Coordination of Benefits (434,217) (80,097)
Total Medical & Hospital $462,669,371 $456,380,186
Administration 76,772,846 76,807,222
Total Expenses $539,442,217 $533,187,408
Income Before Tax 40,765,434 52,513,115
Tax 12,685,285 17,682,052
Net Income $28,080,149 $34,831,063
1.Information in the insurance filing shows that 101,909 hospital patient days of care were provided to members in the current year. How many patient days per 1,000 members were provided?
Current Year Previous Year
Cash and Short-Term Investments $34,094,076 $11,863,992
Receivables 13,036,037 15,112,834
Other Current Assets 3,650,374 6,306,384
Total Current Assets $50,780,487 $33,283,210
Long-Term Investments $134,233,202 $126,679,509
Property, Plant, and Equipment 1,108,330 2,216,891
Total Assets $186,122,019 $162,179,610
Current Liabilities $70,301,625 $66,950,203
Other Liabilities 4,017,789 3,949,442
Net Worth 111,802,605 91,279,965
Total Liabilities and Net Worth $186,122,019 $162,179,610
Member Months 4,820,351 4,721,314
Premium Revenue $512,600,104 $515,079,684
Medicaid Revenue 58,969,632 63,979,870
Investment Income 8,637,915 6,640,969
Total $580,207,651 $585,700,523
Physician Services 157,313,074 148,868,294
Other Professional 23,733,163 21,526,611
Inpatient 110,813,471 113,989,688
Incentive Pool 1,834,583 4,677,527
Outpatient 103,981,202 97,746,260
Pharmacy 62,764,866 67,567,497
Access Fees 341,685 402,285
Reinsurance 2,321,544 1,682,121
Coordination of Benefits (434,217) (80,097)
Total Medical & Hospital $462,669,371 $456,380,186
Administration 76,772,846 76,807,222
Total Expenses $539,442,217 $533,187,408
Income Before Tax 40,765,434 52,513,115
Tax 12,685,285 17,682,052
Net Income $28,080,149 $34,831,063
Explanation / Answer
Answer:
Total members month=4820351/12=401696
Current members=101909/(401696/1000)
=254 days per member
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