Create a budget to aid in determining the need for a piece

Reference no: EM13473893

Create a budget to aid in determining the need for a piece of laboratory equipment. What are the considerations in terms of costs, value, and productivity, and how are they calculated for the piece of equipment in question?

You are to create a fictitious cost ratio. All numbers and procedures etc are made up by you.

Create a budget......say you have $1000.00 to spend on a piece of medical equipment. Go to any website that sells medical equipment... just google it. Pick one, depending on the budget you allow for yourself..... and number! Say you choose a microscope that costs $800. You are in your budget, because you have $1000 to spend and the microscope costs $800.

How much will you charge the patient for the procedure that uses the microscope? Say $40.00? HOw many times would you have to use this microscope at $40 a pt in order for that initial $ 800.00 cost to be covered and begin seeing a profit?

Total expenses
Total no: of procedures
divided by Cost per procedure

800 divided by 40= 20. So, you would need to see 20 patients at $40.00 a procedure before the microscope was paid off, and then, you would be getting nothing but profit on the purchase of the scope.

Reference no: EM13473893

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