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    Effect on costs for reduced length of patient hospital stay

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    Your hospital is negotiating with medical insurance providers, who would like to reduce the amount they pay as reimbursement for hospital stays. For a particular procedure, they would like to reduce payment by $300 and have patients go home one day earlier.

    To see what effect this would have one hospital costs, a random sample of 50 patients who were recently admitted for this procedure was analyzed. Had they left one day earlier, the average savings would have been $322.44 and the standard deviation was found to be $21.71.

    Find the two sided 95% confidence interval for the mean savings, per patient, for the larger population of recent patients.

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    https://brainmass.com/statistics/confidence-interval/effect-costs-reduced-length-patient-hospital-stay-316814

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    Your hospital is negotiating with medical insurance providers, who would like to reduce the amount they pay as reimbursement for hospital stays. For a particular procedure, they would like to reduce payment by ...

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    This posting helps with statistics intervals. It helps with a question about the effect on costs for reduced length of patient hospital stay.

    $2.19

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