Getwell Clinic Essay

1072 words - 5 pages

Getwell Clinic
HC/Acct 561

March 1, 2011
Leslie M Zotz

As financial director of Getwell clinic I will propose a flu immunization service to increase revenues. I recommend that a new clinic service be introduce with the following features:
Service would be Flu Immunization with a charge of $40.00 minus $10 for the cost of vaccine. The target market is 25% of the 25% expected patients out of the 24,000 population. This service will contribute $30 to the company’s bottom-line.

To help with expenses I propose the clinic implement a flu immunization service charging $40 targeting 25% of the population of 24,000.

Year 2016 2017 2018 2019 2020 2021
Number of patients ...view middle of the document...

Variable expenses grow by 5% each year, a slightly higher percentage than the inflation rate.

Financial Statements follows:
Income Statement | | | | | | | |
Revenues: | | | | | | | |
Existing services | | $300,000 | $330,000 | $363,000 | $399,300 | $439,230 | $483,153 |
New service | | 60,000 | 66,000 | 72,600 | 79,860 | 87,846 | 96,631 |
Total revenues | | $360,000 | $396,000 | $435,600 | $479,160 | $527,076 | $579,784 |
Variable costs | | | | | | | |
Existing services | | | | | | | |
Medical supplies | | $36,000 | $41,580 | $48,025 | $55,469 | $64,066 | $73,997 |
Service bureau | | 6,000 | 6,930 | 8,004 | 9,245 | 10,678 | 12,333 |
Other opex | | 18,000 | 20,790 | 24,012 | 27,734 | 32,033 | 36,998 |
| | $60,000 | $69,300 | $80,042 | $92,448 | $106,777 | $123,328 |
New service | | | | | | | |
Medical supplies | | $9,000 | $10,890 | $11,979 | $13,177 | $14,495 | $15,944 |
Service bureau | | 1,500 | 1,815 | 1,997 | 2,196 | 2,416 | 2,657 |
Other opex | | 4,500 | 5,445 | 5,990 | 6,588 | 7,247 | 7,972 |
| | $15,000 | $18,150 | $19,965 | $21,962 | $24,158 | $26,573 |
Total variable costs | | $75,000 | $87,450 | $100,007 | $114,409 | $130,935 | $149,901 |
Total fixed costs: | | | | | | | |
Depreciation expense | | $16,000 | $16,000 | $16,000 | $16,000 | $16,000 | $0 |
Nurses' salaries | | 18,000 | 19,800 | 21,780 | 23,958 | 26,354 | 28,989 |
Administrative and technical salaries | 19,000 | 20,900 | 22,990 | 25,289 | 27,818 | 30,600 |
Rent | | 4,000 | 4,400 | 4,840 | 5,324 | 5,856 | 6,442 |
Service bureau | | 2,000 | 2,200 | 2,420 | 2,662 | 2,928 | 3,221 |
Other opex | | 6,000 | 6,600 | 7,260 | 7,986 | 8,785 | 9,663 |
Total fixed costs | | $65,000 | $69,900 | $75,290 | $81,219 | $87,741 | $78,915 |
Total costs | | $140,000 | $157,350 | $175,297 | $195,628 | $218,676 | $228,816 |
| | | | | | | |
Projected net income | | $220,000 | $238,650 | $260,304 | $283,532 | $308,400 | $350,967 |

Balance Sheet
| | | | | | | |
Assets | | | | | | | |
Cash | $20,000 | $198,000 | $452,650 | $728,954 | $1,028,485 | $1,352,885 | $1,703,852 |
Patient receivables | 240,000 | 220,000 | 220,000 | 220,000 | 220,000 | 220,000 | 220,000 |
Supplies | 8,000 | 16,000 | 16,000 | ...

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