Capstone Project: Part 3

Capstone Project: Part 3 Term Paper Student's Name Institution Course Professor's Name Submission Date Staffing and Salaries for Diabetes Management Clinic The daily performance of several self-care duties and a high level of patient engagement are required for diabetes control. These include thorough diabetes education, self-management training, and screening and diagnostic testing to identify the condition early enough. Two primary care physicians, two nurse practitioners, four registered nurses, three certified diabetes educators, and six support staff members make up the center's team. The average salary for each position would be used to determine the annual wage cost for these employees. According to the U.S. Bureau of Labor Statistics (2023b), the average yearly income for physicians is $229,300; for nurse practitioners (U.S. Bureau of Labor Statistics, 2023b), it is $125,900; for registered nurses, it is $81,220; and for support workers, it is $46,310. This means that $1,313,140 would be the clinic's whole annual salary outlay for its workforce. This all-inclusive team guarantees that patients receive individualized attention, instruction, and assistance for successful diabetes treatment. Staff Position Number of Positions Average Salary Total Salaries Primary Care Physician 2 $ 229,300 $ 458,600 Nurse Practitioners 2 $125,900 $ 251,800 Registered Nurse 4 $ 81,220 $ 324,880 Support Staff 6 $ 46,310 $ 277,860 Total Salary: $ 1,313,140 Fringe Benefits Expense and Total Salary Expense Fringe benefits are an ideal way to secure your successful practice by attracting and retaining the most qualified staff by providing them with extra benefits. The amount that will be used to cover the program's direct costs. The clinic offers a benefits plan for 25 percent of the total salary. This ensures that the plan satisfies the requirements of the latest regulations and statutes. However, this can fluctuate based on the number of patients; hence, it will increase as the number of patients continues to rise. An extra $328,285 will be added to the total salary spending category, resulting in a total of $1,641,425 being charged for fringe benefits as an outcome of this option. The Diabetes Management Center spends 641,425 on Nurse practitioners, Registered nurses, physicians, and support staff (receptionists, medical assistants, and administrative) staff salaries and benefits. This complete solution enables accurate financial reporting and healthcare personnel retention cost awareness, improving patient outcomes and the clinic's reputation. Cost Factors Dollar Amount Total Salaries $1,313,140 Fringe Benefit Expense 25% of Salaries $328,285 Total Salary Expense w/ Fringe Benefits: $1,641,425 Overhead (Indirect) Costs and Total Fixed Practice Costs Enhanced financial stability is among the principal ad...