Sample Cost Comparison
Sample Cost Comparison for Recommending Purchase
*Please note prices and wage rates are fictional
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PT/ INR TESTER
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EARNINGS
We will charge patients $35 per test most must be done twice a week - $70 pp per week
We have a minimum of 20 regular s who will definitely use this service - $70 x 20 = $1400 PW
$1400.00 X 52 weeks = $72,800.00 PA
EXPENSES
-INRatio Strips
Costs $ 2900 ÷ 240 strips per box = $12.00 per strip
Takes 5 minutes with Nurse $22.50 Per Hour = $0.375 Per Minute = $1.87 for 5 Mins of Nurses Time
Cost Per Test is $12.00 + $1.87 = $13.87
$13.87 X 40 applications = $554.80 PW X 52 =$28,849.60 PA
-CoaguChek S Strips
Costs $ 2699.95 ÷ 240 strips per box = $11.24 per strip
Takes 5 minutes with Nurse $22.50 Per Hour = $0.375 Per Minute = $1.87 for 5 Mins of Nurses Time
Cost Per Test is $11.24 + $1.87 = $13.11
$13.11 X 40 applications = $524.40 PW X 52 =$27,268.80 PA
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COSTING
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CoaguChek S
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INRatio
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PURCHASE PRICE
INCOME WILL EARN
EXPENSES WILL CREATE
LIFE EXPECTANCY
TAX RATE
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$1295.00
$72,800.00
$27,268.80
5yrs
30%
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$1900.00
$72,800.00
$28,849.60
5 yrs
30%
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NET BENEFIT
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REVENUE
- EXPENSES
= PROFIT BEFORE TAX
- TAX
= NET PROFIT
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$72800.00
- $27,268.80
= $ 45,531.20
- $21,840.00
= $23,691.20 NB
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$72800.00
- $28,849.60
= $43,950.40
-$21,840.00
= $ 22,110.40 NB
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PAYBACK PERIOD
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INVESTMENT
÷ NET BENEFIT PA
= PAYBACK TIME
or
INVESTMENT
÷
NET BENEFIT PER DAY
= PAYBACK TIME
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$1295.00
÷ $23,691.20
= 0.054 years
or
$23,691.20
÷ 52 wks
= $455.60 PW
$455.60 ÷ 5 days = $91.12 a day
$1295.00 ÷ $91.12 = $14.21
(15 days to pay for itself )
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$1900.00
÷ $ 22,110.40
= 0.085 years
or
$22,110.40
÷ 52 wks
= $425.20 PW
$425.20 ÷ 5 days = $85.04 a day
$1900.00÷ $85.04 = $22.34
(23 days to pay for itself )
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ACCOUNTING RATE OF RETURN
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NET PROFIT
÷ INVESTMENT
=
X 100
=
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$23,691.20
÷ $1295.00
= $18.29
X 100
= 1.8%
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$ 22,110.40
÷ $1900.00
=$11.63
X 100
= 1.1%
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INTERNAL RATE OF RETURN
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PAYBACK PERIOD
÷ LIFE
= (%)
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0.054 years
÷ 5 years
=0.0108%
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0.085 years
÷ 5 years
=0.017%
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| Printed from http://www.scdgp.org.au/page/Primary_Care/Practice_Support/Practice_Manager_2_/Sample_Cost_Comparison_/ © Sunshine Coast Division of General Practice (SCDGP), Australia |