RFI, FRP, budget:Evaluate capital,operating and/or project budgets using basic accounting.

RFI, FRP, budget:Evaluate capital,operating and/or project budgets using basic accounting..

Objectives • Evaluate capital, operating, and/or project budgets using basic accounting principles • Perform cost-benefit analysis for resource planning and allocation • Evaluate the stages of the procurement process • Take part in system selection processes. Scenario Your organization is considering outsourcing all of its coding services. Currently, coding staff use the 3M encoder and a computer-assisted coding program. The first step is to issue a request for information. 1. Evaluate the following results from your request for information and decide which three vendors to contact for a request for proposal. Turnaround time Are coders certified ?AHIMA/AAPC Are coders familiar with 3M Encoder? Are coders familiar with computer assisted coding? What coding services are provided? Payment? Yes No Yes No Yes No Inpatient Outpatient ER Ancillary Per chart Per hour Vendor 1 48hrs x x x x x x x x Vendor 2 48hrs x x x x x x x x Vendor 3 24hrs x x x x x x x x Vendor 4 72hrs x x x x x x x x Vendor 5 48hrs x x x x x x x x 2. Now determine eight items that should be included in the request for proposal that will be distributed. 3. Assume that you want to go with Vendor 1 after the RFPs are evaluated. Now you must perform a cost-benefit analysis to see if it is feasible to entirely outsource. Their pricing structure is $5 per inpatient chart, $3 per outpatient chart, $1.75 for each ER, and $1 per ancillary account. Base your calculations on the average daily accounts for each patient type listed below: Inpatient 70 Outpatient 75 Emergency Room 185 Ancillary 360 4. Now calculate your coding budget for next year. All full-time staff will be getting a 2.5% raise; part-time staff will be getting 1%. In addition, you must also account for the fringe benefit costs associated with the coding staff which are 32% of their salary. 5. Is it cost effective to consider outsourcing coding based on these results? 6. What would the outcome be if you considered Vendor 5 at $30.00 per hour?

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RFI, FRP, budget:Evaluate capital,operating and/or project budgets using basic accounting.

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