The New city hospital has kept track of ts patients billings and labor costs dur

Question

The New city hospital has kept track of ts patients billings and labor costs during the last two years. How has the hospital's labor productivity changed?

2years ago last year

Total Billings 10,230,000 12,450,000

Labor Costs 4,375,000 5,200,000

Can someone help me figure this out... i need to know how to do it mostly.

Liberty Insurance Company processes application forms. The average output in a week is 600 claims. Currently the staff includes six full-time employees who work 40 hours per week and earn $18 per hour including fringe benefits. Management has invested in computer technology that has a weekly cost of $1,200. Materials and energy are not used in significant amounts.

What is the productivity of the application process?

Suppose Liberty decides to invest in additional computer equipment that will

drive the weekly cost of information technology to $1,800. One of the application evaluators is retiring and will not be replaced. The remaining five processors should be able to do 650 applications per week with the new technology. What is the impact on productivity (please give both the new productivity ratio and the percentage change in productivity from part a)?

Explanation / Answer

the labour productivity of hospital has a minor change (.06%),which is not significant. it is done by dividing the total billings by labour cost in the same year .that will give you the productivity in percentage. Steps ____________________________________________________ 1Decide on a measurement of output. Before you can measure the average output of your workers, you will need to select a unit of measurement. Some companies choose to base their calculations on monetary output, while other companies would rather use the number of goods produced. Whichever unit you choose, you must use that same unit for the entire calculation. ___________________________________________________________ 2Decide on a measurement of time. Before you can calculate productivity, you must first decide on a time length for use in your calculations. You could choose 1 week, 1 month, 1 year, or even 1 decade-or any time length in between. The shorter the time length, the easier it will be to calculate, but the results will be less accurate. ____________________________________________________________ 3Determine how much output was produced in the time period you decided upon. For example, If you chose to use a monetary unit of measurement, perhaps your workers produced $100,000 over the span of 1 month. If you chose to use number of goods, perhaps your workers produced 5,000 products over the span of 3 months. _______________________________________________________________ 4Determine how many man hours were spent working in the time period you decided upon. For example, over the span of 1 month, perhaps all of your workers worked a combined total of 5,000 hours. When you're trying to determine man hours spent, you should not only include the number of hours spent actually producing and manufacturing the products, but also the number of hours spent by the managers and supervisors in the management and supervision of the project. ____________________________________________________________ 5Determine the estimated worker productivity. This calculation is done by taking the amount of output produced in your decided time period and dividing it by the number of man hours spent working on your project in that same time period. The resulting figure will be a description of labor productivity in the units you chose. In the case of $100,000 produced over 1 month with a combined total man hours of 5,000, the calculation would be: $100,000 / 5,000 = 20$ per hour productivity. _______________________________________________________________ 1)the productivity is 14 dollars/application 2)the productivity will decrease as the weekly cost of information technology increases but it will be a minor change

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