CALCULATE THE TOTAL GAH GAIN OR LOSS BY D-(D*E) IN COLUMN F. ASSUME A $250,000 ANNUAL MISCELLANEOUS EXPENSE. PREPARE (BASED ON THE TABLE), A FORECAST OF PROFIT OR LOSS FOR GAH FOR THE FIRST YEAR OF OPERATION.
The Mission Viejo Medical Center (in the city of Mission Viejo, California) comprises two geographically adjacent institutions: Mission Hospital Regional Medical Center: Mission Hospital Regional Medical Center, and Children’s Hospital at Mission (CHM): Children’s Hospital at Mission (CHM) http://www.mission4health.com/affiliations/choc-childrens-at-mission.html The two hospitals serve — within less than a 10-mile radius — the populations of the following nine municipalities: Aliso Viejo, Ladera Ranch, Laguna Hills, Laguna Niguel, Laguna Woods, Lake Forest, Mission Viejo, Rancho Santa Margarita, and San Juan Capistrano. Retirement Communities: The city of Laguna Woods ( http://www.lagunawoodscity.org/), is home to “Leisure World” ( http://www.lagunawoodsvillage.com/), a retirement community of over 23,000 senior (55 years and above) residents. The city of Mission Viejo is home to “Casta Del Sol,” a retirement community of more than 3,000 senior (55 years and above) residents. Following the example and success of integrating a special CHOC – children’s hospital within the Mission Viejo Hospital, it is suggested for the purpose of MHA599 only, that an additional new hospital wing be built, catering to the special needs of the senior population, to be named: “Golden Age Hospital (GAH)”. The “MHA599 Consulting Team (MHA599CT)” has been tasked to research and develop a project feasibility plan for the future GAH. Module 3 – Assignment – Finance and Budgeting Based on your proposed organization and structure for the GAH and the Community Clinic, we will now focus on financing and budgeting issues. In order to do so, we will need to define the following requirements and assumptions: Cost of facility construction, initial medical equipment, and instrumentation, will not be calculated – as they will be fully paid by the state as a grant. All senior patients will be above the age of 65, and will have only the Federal Medicare health insurance. Research the major constructs of Medicare health coverage as defined by the “Medicare Prospective Payment System.” The hospital and clinic will be financially balanced, that is, income from Medicare payments will cover in full all operating costs. “Medicare Prospective Payment System” The hospital is reimbursed by the government per procedure and/or treatment by a predefined sum and not by the actual expenses performed for and on a particular patient. For example – a patient requiring open heart surgery will utilize the services of physicians, nurses, OR, laboratory, pharmacy, and occupies a hospital bed on average for six days. If a certain patient is discharged after four days, the hospital will still be paid the six-day amount. Hence, the incentive to operate efficiently and effectively, enabling the hospital to “save money.” Based on the services you have decided to provide – at least six, complete the table ( GAH Project ): Input services/treatments in column A. Input estimated and rounded Medicare reimbursement to GAH (in thousands of dollars) for each treatment in column B (assign for each a figure between $10,000 to $60,000). Your instructor has inputted the projected number of procedures/treatments performed annually at GAH in column C. Calculate the total income for GAH by multiplying columns B*C in column D. Your instructor has inputted the GAH Projected Performance percentage, relative to the Federal standard (100%) in column E. Calculate the total GAH gain or loss by D-(D*E) in column F. Assume a $250,000 annual miscellaneous expense. Prepare (based on the table), a forecast of profit or loss for GAH for the first year of operation. Conclusions and Recommendations. Your instructor will comment on your table in his feedback to you, on the basis of which you will be able to further develop your project plan.
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