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.

Place your order today!

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