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What are the hospitals total financial requirements

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Reference no: EM13244498

As HolyFamily Hospital prepares its budget for the upcoming year, it istrying to determine where to set its average inpatient charge percase. Consider the following data on volume, payer mix, andfinances.

Volume

Medicare and Medicaidcases 1,000

Charity care and bad-debtcases 200

Commercial-payingcases 1,900

Full-charge-payingcases 100

FinancialData

Budgeted operatingexpenses $10,000,000

Debt principalpayment 400,000

Increases in currentassets 500,000

Increases in currentliabilities 300,000

Capitalexpenditures 500,000

Assume that the average payment percase for the Medicare and Medicaid patients is $3,500. Assume thatHoly Family realizes no payment on its charity care and bad debtcases. Holy Family's contracts with commercial payers arenegotiated based on a percentage discount off of full charges. Forthe coming year, the average negotiated discount with commercialpayers is 15%.

1. What are the hospital's total financialrequirements for the coming year?

2. What should be Holy Family's average charge per case inorder to meet the total financial requirements (round to thenearest dollar)?

Reference no: EM13244498

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