Increase in CMI and $ Amt Equivalent
How do I calculate the $ amt equivalent to an increase in CMI. I had a .13 increase in CMI and would like to calculate what this is in dollars...
Thanks,
Suzonne Bourque
How do I calculate the $ amt equivalent to an increase in CMI. I had a .13 increase in CMI and would like to calculate what this is in dollars...
Thanks,
Suzonne Bourque
Comments
Suzonne,
You would take your CMI difference of 0.13 and multiply it by your base rate and then by your census for that particular month. Good to have a baseline "month" or "FY"
Baseline: CMI 1.00 x BR 7,500 x Census 200 = 1.5 million
Current: CMI 1.13 x BR 7500 x Census 250 = 2,118,750 million
Impact: $ 618,750.00
Hope that helps,
Jorde