You are the nursing administrator for a medical group that expects a severe outbreak of the flu this winter. You hire additional staff to treat the patients and administer shots. Your special project budget was for 1,000 hours of part-time nurses’ services at $40 per hour, for a total cost of $40,000. It was expected that these nurses would administer 400 flu shots and treat 1,600 flu patients. The medical group typically charges $50 for a flu shot and $80 for treating a flu patient. Actually, the group had 1,200 patients who received the flu shot and 1,400 who had the flu and received treatment. On average, it was able to collect $55 per flu shot and $70 per flu patient.

Question

You are the nursing administrator for a medical group that expects a severe outbreak of the flu this winter. You hire additional staff to treat the patients and administer shots. Your special project budget was for 1,000 hours of part-time nurses’ services at $40 per hour, for a total cost of $40,000. It was expected that these nurses would administer 400 flu shots and treat 1,600 flu patients. The medical group typically charges $50 for a flu shot and $80 for treating a flu patient. Actually, the group had 1,200 patients who received the flu shot and 1,400 who had the flu and received treatment. On average, it was able to collect $55 per flu shot and $70 per flu patient.

Answer 1

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Answer 2

To analyze the budget and financial outcomes, we can break down the information provided into key components:

1. Budgeted cost for part-time nurses' services:
- The budget allocated was $40,000 for 1,000 hours of part-time nurses' services.
- Each hour of service cost $40.

2. Expected number of flu shots and flu patients treated:
- It was expected that the nurses would administer 400 flu shots.
- It was expected that they would treat 1,600 flu patients.

3. Actual number of flu shots and flu patients treated:
- The group administered 1,200 flu shots, exceeding the expectation by 800 shots.
- They treated 1,400 flu patients, 200 fewer patients than expected.

4. Charges and collection rates:
- The group typically charged $50 for a flu shot and $80 for treating a flu patient.
- On average, they collected $55 per flu shot and $70 per flu patient.

Now let's calculate the financial outcomes based on the provided information:

1. Budgeted cost for part-time nurses' services:
- The budgeted cost is $40 per hour for 1,000 hours, totaling $40,000.

2. Actual revenue from flu shots:
- The group administered 1,200 flu shots instead of the expected 400.
- The average collection per flu shot was $55.
- Therefore, the actual revenue from flu shots is 1,200 x $55 = $66,000.

3. Actual revenue from treating flu patients:
- The group treated 1,400 flu patients instead of the expected 1,600.
- The average collection per flu patient was $70.
- Hence, the actual revenue from treating flu patients is 1,400 x $70 = $98,000.

4. Net financial outcome:
- The total revenue generated from flu shots and treating flu patients is $66,000 + $98,000 = $164,000.
- The actual cost for part-time nurses' services was $40,000.
- Therefore, the net financial outcome is $164,000 - $40,000 = $124,000.

In summary, from the provided information, the medical group had a net financial outcome of $124,000 after exceeding the expected number of flu shots administered and treating fewer flu patients than anticipated.