St Thomas Sports Medicine Specialty Clinic
The St. Thomas Sports Medicine Specialty Clinic offers services for students on a monthly basis. The service is a convenience for the athletes and other students at St. Thomas. ABC Community Healthcare provides the staff and support for the services.
A physician provides 4 hours of care at $250 per hour. Three patient rooms are available for use during the clinic hours.
A physician assistant supports the practice physician at $125 per hour.
A Medical Assistant supports the practice physician and physician assistant and at $20 per hour.
A Clerical coordinator supports the practice operation at $15 per hour.
The cost of supplies averages $25 per case including dressings, antibiotic products, and bandage wraps. (25x5x4= 500 per clinic)
The physician provider sees 5 patients who show up for their appointments per hour. (20 patients are scheduled to be seen.)
St Thomas charges $50 per hour for the rent associated with each room.
The charge for the visit is $150.
The patient cancellation averages 10 patients per month.
Average reimbursement for each patient from the insurance company is $100 per visit.
Complete a brief analysis and computation for the case above. In your analysis, include the elements below:
What are the fixed costs and variable costs for this monthly activity?
What is the net profit for ABC Community Health Services?
What is the variance between net income and net expense?
What is the patient no show rate?
Is this a financially profitable venture for ABC Community Health Services?
How many patients are scheduled per month?
Describe your assumptions and how you arrived at your conclusions on a separate paper and upload using Word or Excel.
The paper should be formatted per current APA and 400-500 words in length. Incorporate a minimum of 3 current (preferably published within the last five years) scholarly journal articles or primary legal sources (statutes, court opinions) within your work.