September 2023 The subsequent two spreadsheets provide workload expressed as relative weighted products RWPs for

2024 The subsequent two spreadsheets provide workload (expressed as relative weighted products (RWPs) for inpatient care), revenue, and expense data for Schumpert Medical Center covering their fiscal years 2010 and 2011. Assignment Help

The subsequent two spreadsheets provide workload expressed as relative weighted products RWPs for 2023

The subsequent two spreadsheets provide workload (expressed as relative weighted products (RWPs) for inpatient care), revenue, and expense data for Schumpert Medical Center covering their fiscal years 2010 and 2011. The data includes FY10 actual workload, revenues, and expenses; FY11 forecasted workload, revenues, and expenses; and FY11 year-to-date workload, revenues, and expenses. The Inpatient Product Lines worksheet provides further details on the types of services provided within each major service line. Using the available data, perform a variance analysis on Schumpert Medical Center and answer the following questions:1. What was the hospital’s original profit forecast (assume away any issues with depreciation, taxes, etc.)? Halfway through the fiscal year, what is the hospital’s revised projection for FY11 profits? Answer: 2. Which inpatient service lines are overbudget? Which product lines are overbudget after accounting for workload increases? Answer: 3. What actions would you take at the mid-year point if you were a fee-for-service hospital? In other words, where are the problem areas on which you would focus your attention, and who might provide ideas for “best practices” based on their performance? Answer: 4. What actions would you take at the mid-year point if you were a capitated hospital? In this case, the revenue spreadsheet would be replaced with an overall budget of $50 million with which to operate (rather than being able to bill for each episode of patient care). Federal, state, county, and city hospitals normally operate under a capped budget. Additionally, many HMOs also operate under a fixed Per Member, Per Month (PMPM) capitated process.Revenues:Schumpert Medical Center Revenues Worksheet, Mid-Year Review Inpatient Inpatient Product LinePrice/RWP”Forecasted RWPs For FY11″”Projected IP Revenue For FY11″”Actual RWPs (FY11 YTD)””Actual IP Revenue (FY11 YTD)” CIRC$6,010.65 724$4,351,711 421$2,530,676 DIGEST$6,021.65 1,161$6,988,125 636$3,830,402 ENT$6,001.65 130$780,215 72$433,948 GYN$6,013.65 219$1,313,983 116$697,128 MENTAL HEALTH$502.99 1,351$679,539 736$369,949 NERVOUS$6,103.65 228$1,391,632 112$682,744 NEWBORN$7,014.71 733$5,141,782 433$3,033,900 OB$5,713.65 1,501$8,576,189 868$4,960,622 ORTHO$6,084.18 631$3,839,118 274$1,664,658 OTHER$6,018.14 2,152$12,951,037 800$4,813,961 RESP$6,118.73 677$4,142,380 197$1,202,960 Total Inpatient Earnings9,506$50,155,710 4,664$24,220,949Expenses: Schumpert Medical Center Expenses Worksheet, Mid-Year Review Inpatient Inpatient Product Line”Budget/RWP (FY10)”” Actual RWPs (FY10) “”IP Expenses (FY10)””Forecasted RWPs (FY11)””FY11 Budget (FY10+6% Inflation)””Actual RWPs (FY11 YTD)””Actual IP Expenses (FY11 YTD)” CIRC$5,475.81 690$3,778,309 724$4,202,356 421$2,472,822 DIGEST$5,476.81 1,105$6,051,875 1,161$6,737,188 636$4,356,173 ENT$5,477.81 124$679,248 130$754,842 72$462,822 GYN$5,478.81 208$1,139,592 219$1,268,947 116$777,322 MENTAL HEALTH$498.78 1,287$641,930 1,351$714,283 736$400,730 NERVOUS$5,478.81 217$1,188,902 228$1,324,119 112$675,173 NEWBORN$5,478.81 698$3,824,209 733$4,256,926 433$2,971,020 OB$5,478.81 1,430$7,834,698 1,501$8,717,115 868$5,472,892 ORTHO$5,478.81 601$3,292,765 631$3,664,557 274$1,771,063 OTHER$5,478.81 2,050$11,231,561 2,152$12,497,823 800$4,662,277 RESP$5,478.81 645$3,533,832 677$3,931,704 197$1,233,771 Total Inpatient Expenses$43,196,922 9,506$48,069,860 4,664$25,256,062 Inpatient Product Lines:CIRCDiseases and Disorders of the Circulatory System DIGESTDiseases and Disorders of the Digestive System ENTDiseases and Disorders of the Ear, Nose, Mouth, and Throat GYNDiseases and Disorders of the Female Reproductive System MHMental Diseases and Disorders MHAlcohol/Drug Use and Alcohol/Drug Induced Organic Mental Disorders NERVOUSDiseases and Disorders of the Nervous System NEWBORNNewborns and Other Neonates with Conditions Originating in Perinatal Period OBPregnancy, Childbirth, and the Puerperium ORTHODiseases and Disorders of the Musculoskeletal System and Connective Tissue OTHERUnknown OTHERDiseases and Disorders of the Eye OTHERDiseases and Disorders of the Hepatobiliary System and Pancreas OTHERDiseases and Disorders of the Skin, Subcutaneous Tissue and Breast OTHEREndocrine, Nutritional and Metabolic Diseases and Disorders OTHERDiseases and Disorders of the Kidney and Urinary Tract OTHERDiseases and Disorders of the Male Reproductive System OTHERDiseases and Disorders of the Blood, Blood Forming Organs, Immunological Dis OTHERMyeloproliferative Diseases and Disorders, Poorly Differentiated Neoplasm OTHERInfectious and Parasitic Diseases, Systemic or U

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