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Related Experiment Videos

Procedural cost accounting: a survival tactic.

D J Anderson

    Radiology Management
    |May 10, 1985
    PubMed
    Summary

    Nonprofit hospitals need better cost accounting methods, especially for specific procedures. This study outlines a foundational approach to procedure cost accounting to improve fiscal soundness and operational efficiency.

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    Area of Science:

    • Healthcare Administration
    • Financial Management
    • Medical Economics

    Background:

    • The implementation of Prospective Payment Systems (PPS) and Diagnosis-Related Groups (DRGs) necessitates significant financial strategy adjustments for nonprofit healthcare institutions.
    • A notable gap exists in formal cost accounting education among hospital department managers and physicians, leading to underemphasis on fiscal procedures.

    Purpose of the Study:

    • To introduce a fundamental methodology for procedure cost accounting within healthcare institutions.
    • To provide a starting point for hospital department managers, particularly in radiology, to enhance their understanding and application of cost accounting.

    Main Methods:

    • Procedure cost accounting involves recording, classifying, and compiling direct and indirect costs associated with specific medical procedures.
    • The method includes assembling costs into categories, calculating a base figure, incorporating overhead, and adjusting for the institution's collection rate.

    Main Results:

    • The described method offers a foundational approach for calculating procedure costs, enabling better financial management.
    • Accurate cost determination empowers managers to refine processes, contributing to a more efficient and cost-effective healthcare operation.

    Conclusions:

    • Implementing a structured procedure cost accounting system is crucial for navigating new payment models like PPS and DRGs.
    • Continuous improvement and adaptation of cost accounting practices by healthcare managers are essential for long-term fiscal health and operational efficiency.

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