Income Statement

Learn about the Income Statement section of the survey.

Purpose

This section collects data on revenue and physician expenses. Data entered in the Employees and Expenses sections will be combined with data entered in the Income Statement to calculate Total Revenue, Total Operating Expenses before Physician Expenses, Total Expenses, and Net Income.

Related Dashboards: Revenue by FTE Physician, Financial Data, Revenue and Expense Details, Revenue and Expenses by Net Collections, Revenue and Expenses by FTE Provider, Staff Cost as a Percent of Revenue, Square Footage Cost as a Percentage of Revenue

Section Overview

  • Revenue – This section specifies the amount of revenue generated by practice for orthopaedic services and each of the ancillaries available in the practice.
  • Physician Expenses – This section assigns physician compensation and other direct physician expenses to orthopedics and any other ancillary services provided.
  • Operating Expenses – This section compiles all of the expenses entered into the Employees and Non-Staff Expenses sections.
  • Net Income – This line item reports the practice’s net income based on the revenue and expense data entered in the survey. This line can be used to double check data entry.

Fields

  • Net Patient Revenue – Amount of revenue (net of refunds) generated by the practice through services provided to patients. Revenue should be reported for orthopedics and each ancillary service available in the practice.
  • Other Revenue – Includes independent medical examinations, rental income, consulting income, grants, honoraria, research contract revenues, government support payments, and educational subsidies. Other revenue generated by the practice. Includes interest income and gain/(loss) on sale of assets.
  • Total Revenue – FORMULA: Sum of Net Patient Revenue and Other Revenue.
  • Physician Compensation and Bonuses – Total practice compensation and bonuses paid to the physicians. Amounts reported by ancillary service as appropriate.
  • Physician Direct Expenses - Direct expenses paid to the physician not considered part of the physician compensation and bonuses.
  • Total Physician Expenses – FORMULA: Sum of Physician Compensation and Bonuses and Physician Direct Expenses
  • Total Operating Expense before Physician Expense – FORMULA: Sum of Total Employees Expenses and Total Non Employee Expenses.
  • Net Income – FORMULA: Total Revenue minus the sum of Total Physician Expenses and Total Operating Expense before Physician Expense