Excel exercise | Operations Management homework help

https://canvas.fau.edu/courses/83555/files/18279698/download?wrap=1

An operating budget combines forecasts for revenues and expenses. Projections for the next fiscal year are made on the basis of some reasonable assumptions.

Budgeting Revenues

First, forecast anticipated census volume by pay type. Next, forecast the anticipated reimbursement.
Basic equation: R = Q × P, Q (quantity: patient days) × P (price: charges, reimbursement)

Note: Budgeting software is programmed to calculate patient days as average daily census figures are entered.

Software programs calculate revenues automatically as the census and per diem rates are entered.
Ancillary and other revenues are added to arrive at the total revenue figure

Excel Exercise: Exhibit17_9.exercise.xlsx

The Excel file for Exhibit 17-9 has been provided. The charges and reimbursement rates for October 2018 are given. Assume that private-pay and private insurance rates will be increased by 4% on January 1, 2019, and that all third-party reimbursement rates will increase by 3%. The same increases will take place in October 2019. Existing Veterans rates will continue till the contract expires. Use the census projections in Exhibit 17–9 to calculate the total revenue that will be budgeted for January 2019. Calculate the budgeted revenue for each of the 12 months and for the entire year 2019.

Note that the revenue projections do not include ancillary and other revenues.

Budgeted Expenses

Departmental managers should give their inputs
Projecting labor costs is the most challenging aspect, but labor hours for some departments are fixed
Allowances for overtime, training, and orientation should be determined
When funds are allocated for reducing absenteeism and turnover, the budget should anticipate future cost savings
After projecting labor hours, average hourly wages need to be projected, taking into account wage increases and labor market conditions
Labor cost (C) = Hours of labor (H) × Average hourly wage rate (W)
Finally, all other anticipated expenses should be included
Variable expenses are generally projected on the basis of PPD costs
Costs should also be included for marketing and public relations

Continue to order Get a quote

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Custom-written and plagiarism-free papers: Our authors create their work from scratch. Before presenting them to clients, we routinely verify them for signs of plagiarism. Our quality assurance group also double-checks and fixes any grammatical errors, assuring that all of our authors adhere to the same standards of writing.
The significance of timely delivery cannot be overstated, and we consistently strive to meet or exceed our clients' deadlines. Regardless of the short time frame, you can count on our writers to get the job done. We always have a team of writers ready to go, even if the deadline is only six hours away.
Customer Satisfaction: Our customer service representatives are the best in the business and have a wealth of knowledge in dealing with clients. All our customer service representatives are trained to listen and reply promptly until you are satisfied with their service. To ensure you're happy, our expert writers will strictly follow the criteria to generate a special report. Our customer service may be contacted by chat, email, or phone. In addition, we provide round-the-clock assistance to all of our clients.
Confidentiality: Our systems are safe, and your information is always protected. We're constantly looking for new facts when it comes to finishing your work. We use a safe and secure payment channel. Since our ordering process is completely anonymous, you don't have to provide any credit card information to place a purchase with us.
Highly Trained Authors: Our writers have received extensive training and are committed to delivering only the best papers. They are fluent in APA, MLA, HARVARD, IEEE, CHICAGO, and AMA referencing styles. To meet your expectations, our skilled writers always pay close attention to your instructions.
Lowered prices: We have set prices that are already discounted. Our prices are the best and affordable for all our esteemed customers.

Excel exercise | Operations Management homework help

Recent Posts

Recent Comments

Calculate the price of your order