Prepare a professional document to present to the VP of Radiology which will include separate tables for each of the following: 1. Prepare a statistics budget summary by procedure and payer 2. Prepare a gross and net revenue worksheet by procedure and payer. nt: prepare a table for each procedure and then one for the total of all procedures. 3. Prepare an expense worksheet based on the volume increases and the rate increases for each of the three types of expenses. Brookside Hospitals imaging for hand, foot and forearm is a sub-unit of the Radiology department. They project ending the current year (2017) with 2,000 total procedures broken down as follows: Hand imaging 10 minutes 60% $100 Foot imaging 20 minutes 30% $300 Forearm imaging 30 minutes 10% $400 This sub-unit accounts for 20% of the Radiology departments current expenses of $1,225,000 broken down as follows: Labor $425,000 Imaging Materials $300,000 Overhead Total $1,225,000 Medicare 50% 70% of charges Medicaid 20% 50% of charges Managed care 20% 80% of charges Self Pay 10% 100% of charges * * 20% of
the self pay result in charity care Payer Mix and Reimbursement is as follows: Budget Assumptions for 2018: · Volume increase is expected to be 10% with the same procedure mix · Due to volume increase, all three expenses are expected to increase 10%, in addition: · Labor rates are expected to increase 5% due to merit increases · The cost of Imaging materials are expected to increase 6% · Overhead rate is expected to stay the same Required: Prepare a professional document to present to the VP of Radiology which will include separate tables for each of the following: 1. Prepare a statistics budget summary by procedure and payer 2. Prepare a gross and net revenue worksheet by procedure and payer. nt: prepare a table for each procedure and then one for the total of all procedures. 3. Prepare an expense worksheet based on the volume increases and the rate increases for each of the three types of expenses. Prepare a summary income statement for revenues and expenses. Rubrics: Problem 1: 25% Problem 2: 25% Problem 3: 25% Problem 4: 25% Prepare a summary income statement for revenues and expenses. Purchase the answer to view it