HSM 340 Midterm

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You have been asked by management to explain the variances in costs under your inpatient capitated contract. The following data is provided. Use the following data to calculate the variances.
 BudgetActual
Inpatient Costs$12,568,500$16,618,350
Members42,00042,000
Admission Rate0.0700.095
Case Mix Index0.900.85
Cost per Case (CMI = 1.0)$4,750$4,900
      

Question 2.
Budgeted Procedures$10,000
Budgeted Cost$400,000
Desired Profit$80,000
PayerVolume%Discount%
Blue Cross204
Unity PPO1510
Kaiser1010
Self Pay540
 50% 
      

Question 3.
 BudgetActual
Wage Rate per Hour$16.00$17.00
Fixed Hours320320
Variable Hours per Relative
Value Unit (RVU)		1.01.1
Relative Value Units (RVUs)1,0001,200
Total Labor Hours1,3201,640
Labor Costs$21,120$27,880
Cost per RVU$21.12$23.23
      

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