Healthcare Accounting: Patient Revenue, Collections budget
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Your hospital has billed charges of $4,000,000 in February. If your collection experience indicates that 20 percent is paid in the month billed, 40 percent in the second month, 20 percent in the third month, and 5 percent in the fourth month, determine the following values:
a.) Net patient revenue for February
b.) Collections of February charges in February
c.) Net accounts receivable at the end of March for February bilings
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Solution Summary
Your instructional notes are on the spreadsheet attached. "Net" revenue is shown as well as a schedule to track collections.
Education
- BSc, University of Virginia
- MSc, University of Virginia
- PhD, Georgia State University
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