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Unionville Heart Center Essay

1320 words - 6 pages

Direct Costs:
$1 000,000 / 400 surgeries performed = $2,500/surgery
Transplants: 2,500 x 50= $125,000
Valve Replacements = 2,500 x 1,000 = $250,000
Bypass = 2,500 x 250 = $625,000

Indirect Costs:
Medical Salaries: $5,000,000/10,000 hours = $500 per hour
Transplants: 500 x 2,000 = $1,000,000
Valve Replacements: 500 x 3,000 = $1,500,000
Bypass: 500 x 5,000 = $2,500,000

1. Building Maintenance: $1,000,000/50,000 = $20 per square foot
Transplants: 20 x 30,000 = $600,000
Valve Replacements: 20 x 10,000 = $200,000
Bypass: 20 x 10,000 = $200,000
2. Building Maintenance: $1,000,000/1000 = $1000 per job
Transplants: 1000 x 600 = $600,000
Valve Replacements: 1000 x 210 = ...view middle of the document...

33 = $3,058,333.33 / 50 = $61,166.67
Valve Replacements: $250,000 + $1,500,000 + $210,000 + $300,000 + $333,333.33 = $2,593,333.33 / 100 = $25,933.33
Bypass: $625,000 + $2,500,000 + $190,000 + $700,000 + $333,333.33 = $4,348,333.33 / 250 = $17,393.33
Using Alternative 2 of the ABC analysis, transplants cost $61,166.67 per procedure, valve replacements cost $25,933.33 per procedure and bypass surgeries cost $17,393.33 per procedure. The total cost of all these treatments taking into account the amount of procedures performed for each type of treatments remains $10,000,000 ($3,058,333.33 + $2,593,333.33 + $4,348,333.33).
Alternative 3: Using the alternative cost driver for building maintenance and the normal cost driver for laboratory costs
Transplants: $125,000 + $1,000,000 + $600,000 + $615,384 + $333,333.33 = $2,673,717.95 / 50 = $53,474.36
Valve Replacements: $250,000 + $1,500,000 + $210,000 + $615,384 + $333,333.33 = $2,908,717.95 / 100 = 29,087.18
Bypass: $625,000 + $2,500,000 + $190,000 + $769,230 + $333,333.33 = $4,417,564.10 / 250 = $17,670.26
Using Alternative 3 of the ABC analysis, transplants cost $53,474.36 per procedure, valve replacements cost $29,087.18 per procedure and bypass surgeries cost $17,670.26 per procedure. The total cost of all these treatments taking into account the amount of procedures performed for each type of treatments remains $10,000,000 ($2,673,717.95 + $2,908,717.95 + $4,417,564.10).
Alternative 4: Using the normal cost driver for building maintenance and the alternative cost driver for laboratory costs
Transplants: $125,000 + $1,000,000 + $600,000 + $1,000,000 + $333,333.33 = $3,058,333.33 / 50 = $61,166.67
Valve Replacements: $250,000 + $1,500,000 + $200,000 + $300,000 + $333,333.33 = $2,583,333.33 / 100 = $25,833.33
Bypass: $625,000 + $2,500,000 + $200,000 + $700,000 + $333,333.33 = $4,358,333.33 / 250 = $17,433.33
Using Alternative 4 of the ABC analysis, transplants cost $61,166.67 per procedure, valve replacements cost $25,833.33 per procedure and bypass surgeries cost $17,433.33 per procedure. The total cost of all these treatments taking into account the amount of procedures performed for each type of treatment remains $10,000,000 ($3,058,333.33 + $2,908,717.95 + $4,358,333.33). These per procedure costs are in stark contrast to the $25 000 per procedure previously attained under the old costing system.
This new method of determining costs simply allocates the costs appropriately depending on the procedure performed. Previously, the Heart Centre allocated the costs evenly between the procedures, ignoring the possibility of one procedure being more expensive than another. It is also clear that the Heart Centre has allocated more than a proportionate share to high-volume...

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