A rural country hospital facility provides health care services to over 35,000 citizens, with a high percentage being older Americans who have retired to this area of the country. The hospital administrator has asked the Vice President of Risk Management to attend a meeting with the senior staff next week in the Board Room. The hospital administrator has asked Vice President of Risk Management to present areas of opportunity for increasing the hospital’s risk management strategies to ensure a litigation-free environment for the facility, its patients, and its employees. During the meeting, the Vice President of Risk Management reports that all the continuous quality improvement (CQI) minutes for the past 3 months of meetings have been reviewed. Although most areas are being adequately resolved, there are some that need more attention, especially from the senior staff. Before specifically addressing those points, the Vice President of Risk Management briefs the staff on the major areas of risk for the hospital. They are: 1. Employee-driven adverse actions against the facility 2. Medication errors 3. Surgery/Treatment errors 4. Patient falls 5. Patient elopements 6. Security breaches in secured areas 7. Inaccurate coding and billing for government/insurer reimbursements Now that the senior staff is aware of the major areas of risk concern, you, as the administrator in charge of all hospital business operations, assign each of these areas of concern to the respective director, such as the Directors of Human Resources, Nursing, Medical, Social Services, and Facility Security. Their reports of assessment, along with recommendations for achieving full compliance and reducing the hospital’s litigation exposure, are due at the end of the month.
Questions: 1. While this situation has many areas of risk that are considered a top priority, focus on patient privacy and information disclosure (HIPAA violations). Which department is responsible for leading the initiative? As the administrator, describe your approach for managing this directive. Do you create a special projects team? How do you gather pertinent data for a category? What tools would you use? 2. How do you determine if you are meeting the industry standards for this area of risk? 3. Would you change any current policies or procedures? How and why? 4. How would you train the affected staff with regard to this area of risk? 5. What are the sanctions, penalties, or government investigations that could present a worst-case scenario if not addressed?
In: Nursing
Problem Set 1: (15 pts) Research Scenario: The following scenario is based loosely on an actual study conducted in 2013 by Ahn, Kim, and Aggarwal– please note that methods and data have been modified for educational purposes.
Do you turn off the light when you leave the room? South Korean researchers wondered how they could increase the number of people who do by use of posters (Ahn, Kim, & Aggarwal, 2013). In one, an image of a light bulb was anthropomorphized by giving it eyes, nose, and a mouth, as well as adding the words, “I’m burning hot, turn me off when you leave!”. In a second, there were no human features on the light bulb and the text simply said, “Our bulbs are burning hot, turn the lights off when you leave!”.
They compared how people would respond to the two posters by having each displayed in separate coffee rooms for two weeks. Although the coffee rooms were different, they were matched as closely as possible on as many parameters as possible (similar business, # of employees, et cet) such that this is a correlated groups design. Percent likelihood of someone turning off the light upon exiting was calculated every day and is presented below. Select and conduct the most appropriate statistical test based on the premise that all assumptions are met for a parametric test and this is a correlated groups design. Determine whether there is a difference in likelihood of turning off the light based on the poster campaign.
|
Anthropomorphism |
Nonanthropomorphism |
|
87.2 |
76.3 |
|
78.1 |
86.2 |
|
77.5 |
76.5 |
|
91.9 |
87.0 |
|
86.6 |
77.6 |
|
87.4 |
86.8 |
|
76.5 |
76.2 |
|
65.7 |
65.2 |
|
88.3 |
55.4 |
|
57.5 |
51.7 |
|
68.6 |
61.8 |
|
67.9 |
53.7 |
|
73.5 |
62.9 |
|
77.7 |
57.6 |
In: Statistics and Probability
Can you please post the excel answers and post the (SHOW FORMULAS) button as well so I can see how you solved the question
The Air Marshal Co. has recently completed a $10,000,000 two-year marketing study. Based on the results of this study, Air Marshal has estimated that 800 units of its new security electro-optical human scanning hardware, known as "Marshal Dillon," could be sold annually over the next 12 years, at a price of $110,000 the first year with an estimated 2% annual rise from inflation in years 2-6. The sales price is expected to drop to $90,000 in year 7 due to increasing competition with 2% annual increase for year 8-12. Variable costs per unit are $45,000 with an estimated 4% annual rise from inflation in years 2-12 and incremental cash fixed costs total $15 million per year all 12 years.
Start-up costs include $120 million to build production facilities and an additional $10,000,000 for shipping and installation costs, $25 million for land, and net operating working capital is projected to be 12% of next year sakes. The production facility will be depreciated on a straight-line basis to a value of zero over the twelve-year life of the project. At the end of the project's life, the facilities (including the land) will be sold for an estimated $25 million. The value of the land is not expected to change during this time period.
Finally, start up would also entail one-time tax-deductible cash expenses of $5 million at year zero. Air Marshal is an ongoing, profitable business and pays taxes at a 32% rate. Air Marshal has a 10% opportunity cost of capital for projects such as this one.
Be sure to answer to the following questions and express your numbers in millions of dollars where appropriate. If your annual income should be a loss, assume that tax could be saved from other profitable parts of the company.
In: Accounting
Can you please post the excel answers and post the (SHOW FORMULAS) button as well so I can see how you solved the question
The Air Marshal Co. has recently completed a $10,000,000 two-year marketing study. Based on the results of this study, Air Marshal has estimated that 800 units of its new security electro-optical human scanning hardware, known as "Marshal Dillon," could be sold annually over the next 12 years, at a price of $110,000 the first year with an estimated 2% annual rise from inflation in years 2-6. The sales price is expected to drop to $90,000 in year 7 due to increasing competition with 2% annual increase for year 8-12. Variable costs per unit are $45,000 with an estimated 4% annual rise from inflation in years 2-12 and incremental cash fixed costs total $15 million per year all 12 years.
Start-up costs include $120 million to build production facilities and an additional $10,000,000 for shipping and installation costs, $25 million for land, and net operating working capital is projected to be 12% of next year sakes. The production facility will be depreciated on a straight-line basis to a value of zero over the twelve-year life of the project. At the end of the project's life, the facilities (including the land) will be sold for an estimated $25 million. The value of the land is not expected to change during this time period.
Finally, start up would also entail one-time tax-deductible cash expenses of $5 million at year zero. Air Marshal is an ongoing, profitable business and pays taxes at a 32% rate. Air Marshal has a 10% opportunity cost of capital for projects such as this one.
Be sure to answer to the following questions and express your numbers in millions of dollars where appropriate. If your annual income should be a loss, assume that tax could be saved from other profitable parts of the company.
In: Accounting
The Case of the Phony PA
As a Senior Investigator at University Hospital, you were awarded a large grant to study the effects of new medications on healing leg wounds. The grant calls for either a nurse practitioner (NP) or a physician assistant (PA) who will be able to document the processes and keep the paperwork up-to-date on the grant. You interviewed several candidates and have found that Charles Tony, a PA, appeared to be the best candidate. His resume indicated that he earned a bachelor’s degree from a prestigious midwestern university, worked several years as an EMT, then went to PA school and earned an associate’s degree as a PA. He presented diplomas and copies of licensure certificates and had excellent recommendations from many reliable sources. This package was presented to you by the Human Resources Department. He was interviewed by several colleagues who would be participating in the study and was hired. He began work and appeared to be doing a good job. After a few months, some strange events started to occur. For instance, the locker he shared with one of the physicians was broken into. Multiple purchases were made on the physician’s credit cards in a very short time. Mr. Tony claimed his wallet had been stolen during that same incident. Other employees stated he was acting somewhat strange around them. He began dating an employee in the institution, then her apartment was broken into. At this point, no one was really suspicious, and Mr. Tony appeared to perform the functions of this job without any problems. Approximately 14 months after he was hired, he did not show up for work, did not answer his phone, and none of the records he was responsible for could be located. You contacted the HR Department and they began an investigation. To everybody’s surprise, you learned none of his credentials was actually checked back to their primary sources. When this check was completed after he disappeared, none of the academic institutions had ever heard of him. His references were all fraudulent. The police searched his apartment and found many missing pieces of University Hospital equipment. Mr. Tony was, however, nowhere to be found. It appears you hired a true pretender.
In: Nursing
Can you please post the excel answers and post the (SHOW FORMULAS) button as well so I can see how you solved the question
The Air Marshal Co. has recently completed a $10,000,000 two-year marketing study. Based on the results of this study, Air Marshal has estimated that 800 units of its new security electro-optical human scanning hardware, known as "Marshal Dillon," could be sold annually over the next 12 years, at a price of $110,000 the first year with an estimated 2% annual rise from inflation in years 2-6. The sales price is expected to drop to $90,000 in year 7 due to increasing competition with 2% annual increase for year 8-12. Variable costs per unit are $45,000 with an estimated 4% annual rise from inflation in years 2-12 and incremental cash fixed costs total $15 million per year all 12 years.
Start-up costs include $120 million to build production facilities and an additional $10,000,000 for shipping and installation costs, $25 million for land, and net operating working capital is projected to be 12% of next year sakes. The production facility will be depreciated on a straight-line basis to a value of zero over the twelve-year life of the project. At the end of the project's life, the facilities (including the land) will be sold for an estimated $25 million. The value of the land is not expected to change during this time period.
Finally, start up would also entail one-time tax-deductible cash expenses of $5 million at year zero. Air Marshal is an ongoing, profitable business and pays taxes at a 32% rate. Air Marshal has a 10% opportunity cost of capital for projects such as this one.
Be sure to answer to the following questions and express your numbers in millions of dollars where appropriate. If your annual income should be a loss, assume that tax could be saved from other profitable parts of the company.
In: Finance
Can you please post the excel answers and post the (SHOW FORMULAS) button as well so I can see how you solved the question
The Air Marshal Co. has recently completed a $10,000,000 two-year marketing study. Based on the results of this study, Air Marshal has estimated that 800 units of its new security electro-optical human scanning hardware, known as "Marshal Dillon," could be sold annually over the next 12 years, at a price of $110,000 the first year with an estimated 2% annual rise from inflation in years 2-6. The sales price is expected to drop to $90,000 in year 7 due to increasing competition with 2% annual increase for year 8-12. Variable costs per unit are $45,000 with an estimated 4% annual rise from inflation in years 2-12 and incremental cash fixed costs total $15 million per year all 12 years.
Start-up costs include $120 million to build production facilities and an additional $10,000,000 for shipping and installation costs, $25 million for land, and net operating working capital is projected to be 12% of next year sakes. The production facility will be depreciated on a straight-line basis to a value of zero over the twelve-year life of the project. At the end of the project's life, the facilities (including the land) will be sold for an estimated $25 million. The value of the land is not expected to change during this time period.
Finally, start up would also entail one-time tax-deductible cash expenses of $5 million at year zero. Air Marshal is an ongoing, profitable business and pays taxes at a 32% rate. Air Marshal has a 10% opportunity cost of capital for projects such as this one.
Be sure to answer to the following questions and express your numbers in millions of dollars where appropriate. If your annual income should be a loss, assume that tax could be saved from other profitable parts of the company.
In: Finance
Can you please post the excel answers and post the (SHOW FORMULAS) button as well so I can see how you solved the question
The Air Marshal Co. has recently completed a $10,000,000 two-year marketing study. Based on the results of this study, Air Marshal has estimated that 800 units of its new security electro-optical human scanning hardware, known as "Marshal Dillon," could be sold annually over the next 12 years, at a price of $110,000 the first year with an estimated 2% annual rise from inflation in years 2-6. The sales price is expected to drop to $90,000 in year 7 due to increasing competition with 2% annual increase for year 8-12. Variable costs per unit are $45,000 with an estimated 4% annual rise from inflation in years 2-12 and incremental cash fixed costs total $15 million per year all 12 years.
Start-up costs include $120 million to build production facilities and an additional $10,000,000 for shipping and installation costs, $25 million for land, and net operating working capital is projected to be 12% of next year sakes. The production facility will be depreciated on a straight-line basis to a value of zero over the twelve-year life of the project. At the end of the project's life, the facilities (including the land) will be sold for an estimated $25 million. The value of the land is not expected to change during this time period.
Finally, start up would also entail one-time tax-deductible cash expenses of $5 million at year zero. Air Marshal is an ongoing, profitable business and pays taxes at a 32% rate. Air Marshal has a 10% opportunity cost of capital for projects such as this one.
Be sure to answer to the following questions and express your numbers in millions of dollars where appropriate. If your annual income should be a loss, assume that tax could be saved from other profitable parts of the company.
In: Finance
PLEASE ANSWER ALL PARTS AND LABEL THEM WITH FORMULAS
International Paper (IP), a Memphis based paper conglomerant, is considering expanding its production capacity by purchasing a new machine, the TJ-50. The cost of the TJ-750 is $2.75 million. Unfortunately, installing this machine will take several months and will partially disrupt production. The firm has just completed a $50,000 feasibility study to analyze the decision to buy the TJ-50, resulting in the following estimates:
■ Marketing: Once the TJ-50 is operating next year, the extra capacity is expected to
generate $10 million per year in additional sales, which will continue for the 10-year life of
the machine.
■ Operations: The disruption caused by the installation will decrease sales by $5 million this
year. Once the machine is operating next year, the cost of goods for the products produced
by the TJ-50 is expected to be 70% of their sale price. The increased production will
require additional inventory on hand of $1 million to be added in year 0 and depleted in year
10.
■ Human Resources: The expansion will require additional sales and administrative personnel
at a cost of $2 million per year.
■ Accounting: The TJ-50 will be depreciated via the straight-line method over the 10-year
life of the machine. The firm expects receivables from the new sales to be 15% of revenues
and payables to be 10% of the cost of goods sold. IP’s marginal corporate tax rate is
35%.
a. Determine the incremental earnings from the purchase of the TJ-50.
b. Determine the free cash flow from the purchase of the TJ-50.
c. If the appropriate cost of capital for the expansion is 10%, compute the NPV of the
purchase.
d. While the expected new sales will be $10 million per year from the expansion, estimates
range from $8 million to $12 million. What is the NPV in the worst case? In the best case?
e. What is the break-even level of new sales from the expansion? What is the break-even level
for the cost of goods sold?
f. IP could instead purchase the TJ-90, which offers even greater capacity. The cost
of the TJ-90 is $4 million. The extra capacity would not be useful in the first two years of
operation, but would allow for additional sales in years 3–10. What level of additional sales
(above the $10 million expected for the TJ-50) per year in those years would justify
purchasing the larger machine?
In: Finance
A rural country hospital facility provides health care services to over 35,000 citizens, with a high percentage being older Americans who have retired to this area of the country. The hospital administrator has asked the Vice President of Risk Management to attend a meeting with the senior staff next week in the Board Room. The hospital administrator has asked Vice President of Risk Management to present areas of opportunity for increasing the hospital’s risk management strategies to ensure a litigation-free environment for the facility, its patients, and its employees. During the meeting, the Vice President of Risk Management reports that all the continuous quality improvement (CQI) minutes for the past 3 months of meetings have been reviewed. Although most areas are being adequately resolved, there are some that need more attention, especially from the senior staff. Before specifically addressing those points, the Vice President of Risk Management briefs the staff on the major areas of risk for the hospital. They are: 1. Employee-driven adverse actions against the facility 2. Medication errors 3. Surgery/Treatment errors 4. Patient falls 5. Patient elopements 6. Security breaches in secured areas 7. Inaccurate coding and billing for government/insurer reimbursements Now that the senior staff is aware of the major areas of risk concern, you, as the administrator in charge of all hospital business operations, assign each of these areas of concern to the respective director, such as the Directors of Human Resources, Nursing, Medical, Social Services, and Facility Security. Their reports of assessment, along with recommendations for achieving full compliance and reducing the hospital’s litigation exposure, are due at the end of the month.
Questions: 1. While this situation has many areas of risk that are considered a top priority, focus on patient privacy and information disclosure (HIPAA violations). Which department is responsible for leading the initiative? As the administrator, describe your approach for managing this directive. Do you create a special projects team? How do you gather pertinent data for a category? What tools would you use? 2. How do you determine if you are meeting the industry standards for this area of risk? 3. Would you change any current policies or procedures? How and why? 4. How would you train the affected staff with regard to this area of risk? 5. What are the sanctions, penalties, or government investigations that could present a worst case scenario if not addressed?
In: Nursing