The following are financial and operational data for Local Community Hospital (2

Question

The following are financial and operational data for Local Community Hospital (2017): No of beds 500 No. of inpatients for one day 275 Total inpatient admissions 27,250 Total inpatient days 136,250 Total visits (inpatient and outpatient) 50,000 Total Revenues $10,000,000 Total Costs $7,500,000 Payment percentage of revenues: Medicare 45% Medicaid 30% Private Insurance 15% Self-Pay (Uninsured) 10% Using the information above, find: (20 points) 1. The occupancy rate for one day (1 point) 2. Total hospital inpatient capacity in days, or total number of available bed days (2 points) 3. The average length of stay (1 point) 4. The total occupancy rate (1 point) 5. The outpatient volume (1 point) 6. The inpatient volume percentage (1 point) 7. The outpatient volume percentage (1 point) 8. Total revenues from inpatient admissions (2 points) 9. Total revenues from outpatient visits (2 points) 10. Profit per patient (3 points) 11. Total revenues from Medicare (1 point) 12. Total revenues from Medicaid (1 point) 13. Total revenues from private insurance (1 point) 14. Total revenues from Self-Pay (1 point) 15. Total profit (1 point)

PLEASE PROVIDE DETAILED STEP BY STEP SOLUTIONS (Fundamentals of Healthcare Finance)

Explanation / Answer

1. Occupancy for 1 day (inpatient per day/no.of beds) 55% 2. Total no.of bed days (total beds*365 days) 182500 3. Average length of stay in days (total inpatient/no.of inpatient admissions) 99 days 4. Total occupancy rate (total inpatient days/total bed days) 74.65%

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