Other Stuff! Flashcards
(15 cards)
How many visits is typical in a home health setting and how long are the visits?
30 visits / week, 45 minutes.
How many visits in a day is typical for OP PT visits? How about for pediatrics?
10-11 visits, 3.5-4.0 visits
8-10 for peds, with 3 units being the average
How many visits is typical in an inpatient rehab setting?
6.5 hours of billable treatment for an 8 hour day.
How many visits is typical in an acute care or SNF setting?
6.5 hors / 8 hour day
What is indirect time?
Usually about 1.5 hours across all settings and allotted for documentation, meetings, etc.
For inpatient rehab, what is the medicare compliance standard?
3 hours of therapy / 5 days per week / patient = 15 hours over a 7 day period
What is the difference between direct and indirect costs?
direct - needed for the delivery (the gown during an MRI)
indirect - needed for delivery but not the actual physical act of it (the person who reads the MRI)
What is a unit of service in multiple practice settings?
inpatient: 15 min out patient: CPT code SNF: 8 min school based: 30 min home care: one patient visit
How do you calculate average cost and marginal cost?
average cost = total cost / volume (or # of visits)
marginal cost = change in total cost / change in total volume
How is a break even point found?
Fixed Costs / Price Per Visit - Variable Cost / Visit
What does a retained earnings statement show?
Details about an owner’s equity and how profits are used
What is a contribution margin? Operating income?
Profit / Loss or Revenue - Expenses
Operating Income = contribution margin - allocated expenses
What is the goal of revenue management?
Maximize income from operations / investments
What is the goal of expense management?
Maximize net income by controlling operating expenses and capital expenses
What are some examples of Key Performance Indicators?
- Volume
- Revenues
- Expenses / Costs
- Efficiency
