IHP 450- FINAL PROJECT-MILESTONE 2
FOR THE PROJECT I HAVE PICKED VENICE FAMILY CENTER, IN THE 1ST MILESTONE I SUGGESTED THE IDEA OF TELEHEALTH AND PHARMACY SERVICES THAT WILL BE ABLE TO MAIL MEDICATIONS TO PATIENTS W/ CHRONIC DISEASES. ESPECIALLY IN THE COVID-ERA. THE 2ND PART OF THIS MILESTONE REQUIRES A DEPARTMENTAL BUDGET W/ A BUDGET SAMPLE ATTACHED. PLS INFORM ME OF ANY DIFFICULTY ISSUE THAT MAY ARISE.
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Solution
Financial Sustainability of a Telehealth Program
The revenue for the proposed telehealth center will be received from two sources: the insured and the uninsured. It is assumed that monthly telehealth consults will be 720 for the first year (40 percent for insured and 60 percent for uninsured) that is 432 for the uninsured and 288 for insured. Revenue for the 40% insured is estimated at $190 per visit while for the 60% uninsured at $50.
| Annual Telehealth Visits | |
| Total | 720 |
| Insured | 288 |
| Uninsured | 432 |
| Projected Revenue | |
| Insured (190*24) | $54720 |
| Uninsured (50*60) | $21600 |
| Total Annual Revenue | $76320 |
Projected Expenses
| Specialist Contract | $40000 |
| Telehealth Specialist (0.2 FTE) | $10736 |
| Pharmaceutical Technologist (4 hours/month) | $1089 |
| Billing Staff | $1920 |
| Software* | $2000 |
| Total costs | $55744 |
- Software cost includes initial licenses and maintenance
Projected Annual Profit /Loss
| Total Revenue | $76320 |
| Total Expense | ($55744) |
| Total profit | $20576 |
Capital Budget Sample
For the Year 202X
| ITEM REQUESTED | PURPOSE | ITEM COST | INSTALLATION | TOTAL COST |
| Telehealth center | facilities | $61960 | – | $61960 |
| Consumables | facilities | $2722 | – | $2722 |
| Internal Training | upgrade | $1083 | – | $1083 |
| $65765 | $65765 |
