1 CHAPTER 8: FINANCIAL PLANNING & BUDGETING 2 Homework Problem 3.4 3 4 Chelsea Clinic projected the following budget information for 2021: 5 6 7 Payer Mix: 8 Blue Cross 9 Highmark 10 Reimbursement Rates: 11 Blue Cross 12 Highmark 13 Variable Costs 14 Resource Inputs: 15 Labor 16 Supplies 17 Resource Input Prices: 18 Labor 19 Supplies 20 Fixed Costs Total FFS Visits Volume 80,000 visits 55% 45% $55 per visit $60 per visit 0.8 hours per visit 1.4 units per visit $25.00 per hour $1.50 per unit $950,000 Using Exhibit 8.3 as a guide (excluding the capitated numbers since payers in this homework problem are all FFS) construct Chelsea Clinic's operating budget for 2021, including projections for volume, revenues, costs, and a P&L statement