Alfred State Medical Centers charges, payments, and adjustments from third-party payers for the month of July are
Question:
Alfred State Medical Center’s charges, payments, and adjustments from third-party payers for the month of July are represented in table W7.1
a. Calculate the percentage of charges, payments, and adjustments for each third-party payer and enter the percentages in the percentages columns of table W7.1.
Table W7.1
Payer | Charges | Payments | Adjustment | Charges | Payments | Adjustments |
BC/BS | $450,000 | $360,000 | $90,000 | 23% | ? | ? |
Commercial | $250,000 | $200,000 | $50,000 | 17% | 6% | |
Medicaid* | $350,000 | $75,000 | $275,000 | 18% | ? | ? |
Medicare | $750,000 | $495,000 | $255,000 | ? | 42% | 33% |
TRICARE* | $150,000 | $50,000 | $100,000 | ? | ? | ? |
Totals | $1,950,000 | $1,180,000 | $770,000 | 100% | 100% | 100% |
b. Based on the percentages calculated in the charges column, identify the payer the facility does the most business with and the payer it does the least business with.
c. Based on the percentages calculated in the payment column, identify the payers that reimburse the facility the most and the least.
d. Based on the percentages calculated in the adjustments column, identify the payers that proportionately reimburse the facility the most and the least.
Financial Accounting
ISBN: 9780078110825
2nd Edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann