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# Nursing administrator: Volume, Mix & Price Revenue Variance

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You are the nursing administrator for a medical group that expects a severe outbreak of the flu this winter. You hire additional staff to treat the patients and administer shots. Your special project budget was for 1,000 hours of part-time nurses' services at \$40 per hour, for a total cost of \$40,000. It was expected that these nurses would administer 400 flu shots and treat 1,600 flu patients. The medical group typically charges \$50 for a flu shot and \$80 for treating a flu patient. Actually, the group had 1,200 patients who received the flu shot and 1,400 who had the flu and received treatment. On average, it was able to collect \$55 per flu shot and \$70 per flu patient.

Compute the volume, mix, and price revenue variances. How did things turn out for the group considering just revenues? How did they turn out from a profit perspective? Use either the approach from chapter 8 or from Appendix 8-A to solve. Clearly label the calculations of the required variances using Excel. Use formulas to calculate the three variances and format the cells to insert a comma if there is more than three numbers and round to the nearest whole number. Explain the meaning of the variances in a two page Word document.

#### Solution Preview

Your variances are computed clearly with instructional notes and a diagram to show you what is needed. This is now a template for future problems. Click in cells to see computations.

How did things turn out for the group considering just revenues?

Just looking at revenues, we expected a total of \$148,000 using expected units and expected sales prices. This is computed (see Excel) at budgeted quantities and standard prices (same a budgeted prices as budget is always based ...

#### Solution Summary

Your tutorial is 311 words and a spreadsheet analysis of the three needed variances.

\$2.19

## Business Review - St. Joseph's Hospital and Medical Center

I am currently working on a Business reveiw of St. Joseph's Hosptial and Medical Center
http://www.ichosestjoes.com/

My business review needs to include the following information:

Setting
? Geographic Service Area
? Area demographics and trends
? Estimated percent of service population with private insurance
? Estimated percent of private insured in managed care
? Estimated percent of service population with some form of government nsurance
? Number and type of competitors
? Number of physicians in service area and their specialties

Offerings
? Range of services provided
? Number of beds total and by type
? Marketing thrust and level-of-effort

Accreditation and Care Quality
? JCAHO/NCQA accreditation history
? Patient Satisfaction Measures
? State licensure classification or type
? Formal affiliations with education institutions
? Risk Management, Utilization Review and Compliance programs
? Awards and recognition for care quality

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