You Have Submitted a Request to the Board of Directors

question 17

Essay

You have submitted a request to the board of directors to purchase a computer-based patient record system. The system is anticipated to save $45,000 in personnel operating costs each year for the next 3 years and will cost $110,000 to install. Operating and maintenance costs for the 3 years are estimated to be $5000 per year. The money to buy the equipment would come from an equipment fund, which is now earning 8%. Calculate the payback period for the investment.

Apply communication strategies to enhance patient interviews and improve data collection.

Recognize the role and principles of patient education within healthcare.

Understand the use of SOAP charting for organizing patient information.

Understand the accounting treatment of asset exchange transactions and the calculation of gain or loss.

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Definitions:

Import Quotas

Limits set by a government on the amount or value of goods that can be imported into a country.

Domestic Supply

The total amount of a good or service available from producers within a country for domestic consumption or use.

Demand Schedules

Tables that show the level of demand for a specific good or service at different price points, typically holding all other factors constant.

World Price

The price at which goods are traded internationally, reflective of supply and demand dynamics on a global scale.