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Q4. Lifecare Clinic has annual net patient service revenues of $25,600,000. It has two major third-party payers, plus so
Posted: Sun Jul 03, 2022 12:53 pm
by answerhappygod
- Q4 Lifecare Clinic Has Annual Net Patient Service Revenues Of 25 600 000 It Has Two Major Third Party Payers Plus So 1 (21.58 KiB) Viewed 14 times
Q4. Lifecare Clinic has annual net patient service revenues of $25,600,000. It has two major third-party payers, plus some of its patients are self-payers. The hospital's patient accounts manager estimates that 15% of the hospital's revenue is collected from self-pay on the 30th day, 65% is collected on the 60th day (payer A), and 25% is collected on the 90th day (payer B). Assume 360 days per year. a. What is Clinic's average collection period? (5 points) b. What is the firm's current receivables balance? (5 points)