What is the formula that solves this problem: You are reviewing reimbursement for a Medicare surgical craniotomy case. The case falls into DRG 1 , which has a relative weight of 3.0970 and a geometric mean length of stay of 6.3 . The hospital's current standard reimbursement rate is $1500. Calculate the DRG reimbursement for this case.
divide the rate into the lengnth of stay.
To calculate the DRG reimbursement for this case, you will need to use the formula:
DRG Reimbursement = (Standard Reimbursement Rate) * (Relative Weight)
In this case, the given standard reimbursement rate is $1500 and the relative weight for DRG 1 is 3.0970.
Now, let's plug in the values into the formula:
DRG Reimbursement = $1500 * 3.0970
To get the final answer, simply multiply the standard reimbursement rate by the relative weight:
DRG Reimbursement = $4645.50
Therefore, the DRG reimbursement for this case is $4645.50.