APPENDIX A | Focus on Formulas PATIENT/RESIDENT DAYS PER MONTH FORMULA
Patient or Resident Days/Month = Average Daily Census for the Month x Days in the Month Months with 30 days are: April, June, September, and November. February has 28 days (except for leap year, when it has 29 days) and the rest of the months have 31 days.
Example
Average Daily Census for April = 100 patients/day 100 patients per day x 30 days = 3,000 Patient Days
Average Daily Census for January = 60 residents/day 60 residents per day x 31 days = 1,860 Patient Days
PATIENT/RESIDENT MEALS PER MONTH
FORMULA Patient/ Resident Meals per Month = Number of Patient Days x 3 meals per day
Example 3000 Patient days X 3 meals per day = 9,000 Patient Meals per Month
UNIT PRICE PER OUNCE FOR CANNED FOODS FORMULA
Use the net weight listed on the can to calculate the price per ounce of product. Net Weight = The exact amount of a product without the outer disposable packaging. This amount is listed on the product label.
Price per ounce of product = Price per can ÷ Net weight listed on can Example
The manager is evaluating which brand of canned peaches is the better value. • Product 1: Cost per can = $6.19 and Net weight (ounces) on the label = 58 ounces per can • $6 .19 ÷ 58 oz = 0.107 per ounce • Product 2: Cost per can = $6 .29 and Net weight (ounces) on the label = 66 ounces per can • $6.29 ÷ 66 oz = 0.095 per ounce Product 2 is less expensive per ounce. If the quality is the same, product 2 is the better value.