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Using the example of Table 62, assume that the average cost has jumped from $100...

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Question

Accounting

Using the example of Table 62, assume that the average cost has jumped from $100 to$105. All other factors in the example remain the same. What will be the new required price?

Table 62 Price-Setting Example

Total cost

$100,000

Total volume

1,000

Average cost

$100

Payer volumes

Medicare (payment rate = $95)

400

Medicaid (payment rate = $75)

100

Managed Care # 1 (payment rate = $110)

300

Managed Care # 2 (pay 80% of charges)

100

Uninsured (pay 10% of charges)

100

Total all payers

1,000

Desired net income

$5,000

Answer & Explanation Solved by verified expert
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