Determine what actions the practice needs to take

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Reference no: EM133778148

Application of Excel: Analysis with tables and charts
This is an opportunity to apply some of the principles from chapter 3. This is submitted as a team, but each member should be able to perform these basic functions in excel.
Create an excel spreadsheet to complete this assignment. Note that you do not need to upload the excel file with the assignment. Complete the table below and then embed the charts into the word document (DO NOT screenshot). Follow APA 7.0 to correctly label the table and figures.
Place Part 2 responses behind the reference page from part 1.
1: A medical practice is analyzing past financial performance to determine what actions the practice needs to take to increase net income. Using the table below, calculate the profit margin per payer and profit per patient.
Service Patients Revenue Profit Profit Margin Profit per Patient
Commercial 513 $62,000 $6,250
Managed care 1,798 198,000 12,500
Medicare 2,054 268,000 5,500
Medicaid 514 82,000 -8,000
Self pay/Charity 257 32,000 -7,000
5,136 $642,000 $9,250

2. Using the table in problem 1, create a column chart showing the profit margin per payer with the highest margin on the left to the lowest on the right.
3. After seeing the profit margin per payer, we want to understand how much revenue is generated by each payer. Using the table in problem 1, create a pie chart showing revenue per payer.
4. Stakeholders want to understand how profit the margin has changed over the last ten years. Using the table below, create a run chart with a trend line, and explain how the profit margin has changed. APA: use a "note" below the run chart to add the explanation.
5. Use the table below to analyze the relationship between bed size (X) and profit margin in hospitals. Create a scatter or XY chart and explain the relationship. (use "note as above).
X Y
Range Beds Profit Margin
Less than 100 50 1.0%
100-199 150 3.0%
200-299 250 4.5%
300-399 350 4.0%
400-499 450 6.0%
500 and more 550 5.0%

Reference no: EM133778148

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