Hospital Costs to Implement

Hospital Costs to Implement

Part 1 of the assignment: Within this Scenario, the productivity loss for the six-month learning period is $1,233. Beginning with month #1 at $353 ($1.41 times 250 equals $353), compute the cost of productivity loss for the remaining five months as explained in the Scenario to total an overall amount of $1,233. Be prepared to show and explain your computations.

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It is given that every discharge takes 1.7 minutes

The total number of shots in six months is 250, calculated by dividing 1,500 photos by six months.

The cost is calculated using the rate of $50 per hour; therefore, per minute, the price is given as ($50/60 minutes) giving $0.83 per minute. Consequently, the cost per claim is $1.41 ($0.83 times 1.7).

And for the first month, the total productivity loss incurred is $353 ($1.41 times 250) for the inpatient coding.

The simplicity rate of production increases at a straight line for six months.

This means we divide the total cost incurred in 6 months by 6. ($353/6), giving $59 per month; this is the monthly cost reduction.

The cost of production after the first month for the reaming six months can therefore be calculated as follows:

1^st month = 353

2^nd month = (353-59) =294

3^rd month = (294-59) = 235

4^th month = (235 -59) =176

5^th month = (176-59) = 117

6^th month = (58-59) =-1

Total (353+294+235+176+117+59) = $1233.

Therefore the total loss for the remaining five months is given as (1233-353) = $880.

Part 2 of the assignment: In the Scenario, CMS states that the hospital’s total cost is $303,990. Study the explanation and summarize the totals of each type of cost discussed. When you are finished, your total should amount to $303,990. Be prepared to show and explain how you arrived at this total.

Training cost fulltime coders =$1500($500 x 3)

Temporary coder cost = $1200($50 x 8hrs x 3 coders)

Total training cost (1500+1200) =$2700

Productivity loss

Total loss for six month period =$1233 regarding the surgical.

Total loss for six month-period about outpatient = $53

System upgrade cost = $300,000

Total cost = (2700+1233+53+300,000) = 303,986, Rounding off to $303,990.

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References

Paterson, M. A. (2014). Healthcare Finance and Financial Management: Essentials for   Advanced        Practice Nurses and Interdisciplinary Care Teams. DEStech Publications, Inc.

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ASSIGNMENT 08

HE420 Healthcare Finance and Accounting

Directions: Save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and use correct English, spelling, and grammar. Sources must be cited in APA format. Refer to the “Format Requirementsʺ page for specific format requirements.

Hospital Costs to Implement

Refer to the Scenario for a Midwest Community Hospital, located in Appendix 26-A

• Part 1 of the assignment: Within this Scenario, the productivity loss for the six-month learning period is $1,233. Beginning with month #1 at $353 ($1.41 times 250 equals $353), compute the cost of productivity loss for the remaining five months as explained in the Scenario to total an overall amount of $1,233. Be prepared to show and explain your computations.
• Part 2 of the assignment: In the Scenario, CMS states that the hospital’s total cost is $303,990. Study the explanation and summarize the totals of each type of cost discussed. When you are finished, your total should amount to $303,990. Be prepared to show and explain how you arrived at this total.