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Essay / Research Paper Abstract
This 5-page paper undertakes various cost analysis regression of Lincoln Community Hospital in New York to determine its financial problems. The regressions are also analyzed here.
Page Count:
5 pages (~225 words per page)
File: D0_MTlinana.rtf
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Unformatted sample text from the term paper:
during the mid-1980s, Lincoln was faced with rising costs partly because of rising costs associated with modern medical care and lower revenues due to cost containment by third-party reimbursements of
hospital bills such as the government and private and insurance agencies. In addition, because these hospitals did not have many beds, they cannot take advantage of economies of scale
that the larger chain hospitals enjoyed. The non-profit hospitals also had to fight the perception that they were not as efficiently run as for-profit hospitals. Lincolns problems included that
it was the only hospital in the community and therefore could not necessarily control the patient mix they took in. Act and
executive committee meeting of the Board of trustees of the hospital, Otto Planck, the committees chairperson, examined several regression analyses and add variables to determine which would provide the best
costs picture for the hospital. This paper will examine the variables and analyze them. The first regression bases its conclusion on
total operating costs. A hospital therefore with 25 beds and 2000 patient days is anticipated to generate a loss of approximately $1.5 million by incorporating a regressive coefficient of
$4,722,847 (anticipated revenue) and then dividing that by 25 (number of beds) x $119,655 (the cost for each additional bed added). That amount would then be divided by 2000
(number of patient days) x $114.70 (the cost of each additional patient day). This particular regression demonstrates how revenue could conceivably be increased by adding more beds, as more
beds would equal more patient days. The regression also demonstrates that while the initial cost might be somewhat high, the end result would mean the overall loss to the
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