Good Will General Hospital is introducing a new service that anticipates to have 550 patient visits per year at an average cost per visit of $2,200 and and average billed charges per visit of $4,500.
Determine the gross revenue, contractual deductions, net patient revenue, total costs and net operating income for both Medicare and Medicaid that would result given the terms in the table below.
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Good Will General Hospital is introducing a new service that anticipates to have 550 patient visits per year at an average cost per visit of $2,200 and and average billed charges per visit of $4,500.
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Payor Class Number of patient visits Payment per case Gross Revenue Contractual Deductions Net Patient Revenue Total Costs Net Operating Income
Medicare 350 $2,050
Medicaid 200 $1,650