Thi Phuong Thuy Dao 22643027
NURSING FACILITIES REVENUE
Key variables
By means of regression, this infographic illustrates how various variables (predictors) affect revenue (response) of licensed nursing facilities in New Mexico, US in 1988. Specifically, rural facilities face fiscal challenge compared to urban counterparts. Importantly, All Patient Days and
Facilities Expenditure contribute significantly to the rural revenue while Nurse Salaries affects urban revenue.
AllPatientDays
(X1)
InPatientDays
(X2)
What is average revenue generated from Nursing Facilities in rural & urban areas?
Facilities
Expenditure
(X3)
Revenue (Y)
Beds
(X5)
Nurse Salaries
(X4)
20,000
15,000
10,000
5,000
0
Rural Urban
Regression model
By running the regression models for the whole state and separately for rural and urban areas for several times, the final models are selected with the significance F being less than significant level of 0.05.
Y = -1,310.46 + 49.03 X1 + 0.62 X3
Y(R) = -1,150.32 + 45.02 X1 + 0.88 X3
Y(U) = 1,696.61 + 3.11 X4
The model does not violate the assumption LINE.
Action plan
Urban
Staffing cost investment
Rural
Cost control
Service diversification
Findings
Gross revenue per patient day of
Rural < Urban while total expenses are the same.
AllPatientDays and
FacilitiesExpend positively affect the revenue of nursing facilities in the state and rural areas while
NurseSalaries do influence the urban ones.
Source: Department of Health & Social Services of New Mexico, US
