A medical clinic is randomly selecting three staff members to attend a conference. The clinic employees include 7 nurses, 3 doctors, and 4 office staff. What is the probability that three nurses are selected to attend the conference? 0.10 O 0.13 O 0.42 0.50
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- DECISION THEORY.A casual employee who is not feeling well due to severe colds has to decide whether to go to work or stay home and rest. If he goes to work, there is 50% chance of getting sickand spend $200 for medicine. If he stays home and rest, he will be deducted $80 from hissalary for his absence. What should the man do?Parktown Medical Center, Inc.. is a small health care provider owned by a publicly heldcorporation. It employs 7 salaried physicians, I0 nurses, 3 support stafl, and 3 clericalworkers. The clerical workers perform such tasks as reception, correspondence, cashreceipIs,billing, and appointment scheduling. All are adequately bonded. Most patients pay for services rendered by cash or check on the day of their visit.Sometimes.however, the physician who is to performservices apprcredit based on an interview. When credit is approved, the physician files a memo vone of the clerks to set up the receivable using data the physician generates.The servicing physician prepares a charge sup that 1s given to one or the clerKs IorDicing and preparation of the patient S bill. At the end of the dav.one of the clerks usesthe bills to preparea revenue summarv and. in cases of credit sales. to update thecounts receivable subsidiary ledger.The frontoffice clerks receive cash and checksdirectly from patients…Ten people apply for a job as assistant manager of a restaurant. Five have completed college and five have not. If the manager selects 3 applicants at random, find the probability that all 3 are college graduates." 0.128 0.083 0.146 0.883
- A clinic’s records show that the cost of carrying out health checks in the last five accounting periods have been as follows: Period No. of patients seen Total costs (RM) 1 650 17,125 2 940 17,800 3 1260 18,650 4 990 17,980 5 1150 18,360 Using the high-low method and ignoring inflation, what are the estimated cost of carrying out health checks on 850 patients in period 6?Glencoe Medical Clinic operates a cardiology care unit and a maternity care unit. Colby Hepworth, the clinic’s administrator, is investigating the charges assigned to cardiology patients. Currently, all cardiology patients are charged the same rate per patient day for daily care services. Daily care services are broadly defined as occupancy, feeding, and nursing care. A recent study, however, revealed several interesting outcomes. First, the demands patients place on daily care services vary with the severity of the case being treated. Second, the occupancy activity is a combination of two activities: lodging and use of monitoring equipment. Since some patients require more monitoring than others, these activities should be separated. Third, the daily rate should reflect the difference in demands resulting from differences in patient type. Separating the occupancy activity into two separate activities also required the determination of the cost of each activity. Determining the costs…Parktown Medical Center, Ine., is a small bealch care provider owned by a publicly held corporation. It employs 7 salaried physicians, 10 nurses, 3 support staff, and 3 clerical workers. The clerical workers perform such tasks as reception, correspondence, cash receipts, billing, and appointment scheduling. All are adequately bonded. * Life-long Icaring opportumstro see p. asl in pretace. PART I ACCOUNTING INFORMATION SYSTEMS APPLICATIONS Most patients pay for services rendered by cash or check on the day of their visit. Sometimes, however, the physician who is to perform the respective services approves credit based on an interview. When credit is approved, the physician files a memo with one of the clerks to set up the receivable using data the physician gencrates, The servicing physician prepares a charge slip that is given to one of the clerks for pricing and preparation of the patient's bill. At the end of the day, one of the clerks uses the hills to prepare a revenue summary and,…
- Make or BuyRashad Rahavy, M.D., is a general practitioner whose offices are located in the South Falls Professional Building. In the past, Dr. Rahavy has operated his practice with a nurse, a receptionist/secretary, and a part-time bookkeeper. Dr. Rahavy, like many small-town physicians, has billed his patients and their insurance companies from his own office. The part-time bookkeeper, who works 10 hours per week, is employed exclusively for this purpose.North Falls Physician's Service Center has offered to take over all of Dr. Rahavy's billings and collections for an annual fee of $7,000. If Dr. Rahavy accepts this offer, he will no longer need the bookkeeper. The bookkeeper's wages and fringe benefits amount to $11 per hour, and the bookkeeper works 50 weeks per year. With all the billings and collections done elsewhere, Dr. Rahavy will have two additional hours available per week to see patients. He sees an average of four patients per hour at an average fee of $30 per visit. Dr.…In Year 1, began to receive complaints from physicians that patients were experiencing unexpected side effects from the company’s sleep apnea drug. The company took the drug off the Market near the end of Year 1. During Year 2, the company was sued by 800 customers who had a severe allergic reaction to the company’s drug and required hospitalization. At the end of Year 2, the company’s attorneys estimated a 62% chance the company would need to make payments in the range of $2,500 to $7,000 to settle each claim, with all amounts in that range being equally likely. At the end of Year 3, while none of the cases had been resolved, the company’s attorney now estimated an 80% probability the company would be required to make payments in the range of $3,000 to $10,000 to settle each claim with all amounts in that range being equally likely. In Year 4, 400 claims were settled at a total cost of $2.5 million. Based on this experience, the company believes 30% of the remaining cases will be…Local Hospital (LH) has decided that it would like to send nurses to a local supermarket to provide a free health screening for interested supermarket customers. The screening will consist of measuring the individual’s blood pressure and taking a drop of blood, which will be immediately tested for several critical indicators. The director of public relations at the hospital believes that 100 people will take advantage of the screening each day. The plan is to provide the screening every day for one week; thus, a total of 700 screenings are expected. LH expects the supermarket to provide a $1,000 grant to help defray the costs of the program (since it will likely draw more customers to the store). LH anticipates the following expenses: Test Equipment Rental $500 For 1 week Nurses $50/hr Total of 10 hrs/day for 7 days Blood tests $1 Per individual tested Determine the special purpose budget for the program. Show revenues and expenses by line item, and show the expected profit or loss. If…
- Mercy for America, a private not-for-profit health care facility located in Durham, North Carolina, charged a patient $8,600 for services. It actually billed this amount to the patient’s third-party payor. The third-party payor submitted a check for $7,900 with a note stating that “the reasonable amount is paid in full per contract.” Which of the following statements is true? Choose the correct.a. The patient is responsible for paying the remaining $700.b. The health care facility will rebill the third-party payor for the remaining $700.c. The health care facility recorded the $700 as a contractual adjustment that it will not collect.d. The third-party payor retained the $700 and will convey it to the health care facility at the start of the next fiscal period.The total number of term life insurance contracts sold in Problem 13 is 199. The following pie chart shows the percentages of contracts sold by each salesperson. a. What are the problems with using a pie chart to display these data? b. What type of chart would be preferred for displaying the data in this pie chart? c. Use a different type of chart to display the percentage of contracts sold by each salesperson that conveys the data better than the pie chart. Format the chart and add data labels to improve the charts readability.Which of the following activity bases would be the most appropriate for food costs of a hospital? a.quantity of prescriptions filled b.how many MRI's are taken c.number of nurses scheduled to work d.number of patients who stay in the hospital