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Related Experiment Videos

Why activity-based costing works.

S G Gabram1, R A Mendola, J Rozenfeld

  • 1Loyola University Medical Center, Maywood, IL, USA.

Physician Executive
|June 6, 1997
PubMed
Summary
This summary is machine-generated.

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Activity-based costing (ABC) is a method being re-explored in healthcare to understand the true cost of medical procedures and tests. This approach helps physician providers gain a clearer understanding of healthcare expenses.

Area of Science:

  • Health economics
  • Healthcare management
  • Cost accounting

Background:

  • Advancing technology necessitates accurate cost assessment in healthcare.
  • Traditional cost accounting methods may not fully capture the complexity of healthcare expenses.
  • There is a growing need to understand the true cost of medical procedures and diagnostics.

Purpose of the Study:

  • To enhance physician providers' understanding of healthcare costs.
  • To introduce and emphasize activity-based costing (ABC) as a viable approach in the health industry.
  • To explore the application of business cost accounting techniques in a medical setting.

Main Methods:

  • Exploration of activity-based costing (ABC) principles.
  • Adaptation of ABC from business practices to the healthcare environment.

Related Experiment Videos

  • Focus on identifying and analyzing activities driving healthcare costs.

    • Main Results:

    • Activity-based costing (ABC) offers a more refined method for cost determination in healthcare.
    • Physician providers can achieve better insights into procedural and diagnostic costs.
    • The study highlights the potential of ABC to improve financial understanding within medical practices.

    Conclusions:

    • Activity-based costing (ABC) is a valuable tool for improving cost accounting in healthcare.
    • Adoption of ABC can lead to a more accurate understanding of healthcare expenditures for providers.
    • Further exploration of ABC applications in diverse healthcare settings is warranted.