The following information summarizes charge and cost data, Ask an Expert

Accounting

The following information summarizes charge and cost data for Dr. Jones during the last year:

Number of Cases 100

Charges $700,000

Nursing Charges $350,000

Lab Charges $200,000

Pharmacy Charges $50,000

Radiology Charges $100,000

Assume that Dr. Jones' patients pay an average 80 percent of charges. Also assume cost to charge ratios of 0.90 in Nursing, 0.80 in Lab, 0.50 in Pharmacy, and 0.70 in Radiology. What is the profit earned on Dr. Jones' patients?
Would your facility lose money if Dr. Jones decided to leave and take her patients to another hospital? Provide more than one reason why it is highly likely that a loss would result.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91229290

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