Possible practice management ratios

Assignment Help Finance Basics

Reference no: EM13754668

As a Healthcare Management professional, having a solid understanding about financial policies and practice management ratios will help you make valuable decisions towards the growth of your company or department.

DIRECTIONS:

1. Answer the following five (5) questions in this assignment.

Question 1: What is a financial policy?

Question 2: What is the purpose of a financial policy?

Question 3: List four (4) benefits of using financial policies.

Question 4: List four (4) types of information which can be included in a financial policy

Question 5: Using the following information, calculate all possible practice management

Using the following information, calculate all possible practice management ratios:

June, 2011

Number of Patients seen = 4,785

Monthly Charges = $1,340,000

Monthly Income = $899,000

Total Operating Costs = $643,521

Total Accounts Receivable = $1,650,000

Was this practice profitable in June, 2011?

Reference no: EM13754668

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