Related Experiment Videos
A study of unit cost of routine investigations in Srinagarind Hospital
K Bhuripanyo1, W Kosuwan, P Bhuripanyo
1Department of Medicine, Faculty of Medicine, Khon Kaen University, Thailand.
Insights
The actual costs of common medical tests like complete blood count (CBC) and urinalysis are significantly higher than hospital prices. Chest radiographs and electrocardiograms, however, cost less than their set prices.
Area of Science:
- Healthcare Management
- Medical Economics
- Cost Accounting
Background:
- Hospitals set prices for diagnostic tests without transparent cost allocation.
- Accurate cost data is crucial for effective financial analysis in healthcare.
Purpose of the Study:
- To determine the actual costs of common diagnostic tests using a specific accounting method.
- To compare actual costs with established hospital prices for these tests.
Main Methods:
- Utilized the step up allocation accounting method.
- Calculated the true costs for complete blood count, urinalysis, chest radiograph, and electrocardiogram.
Main Results:
- Actual costs for complete blood count and urinalysis exceeded their prices.
- Actual costs for chest radiographs and electrocardiograms were lower than their prices, particularly for electrocardiograms.
Conclusions:
- Significant discrepancies exist between the actual costs and prices of diagnostic tests.
- Economic analyses involving these investigations should incorporate actual costs for greater accuracy.
Abstract:
We have used the step up allocation accounting method to determine the actual costs of complete blood count, urinalysis, chest radiograph and electrocardiogram. We found that the actual costs were quite different from the price set up by the hospital. The actual cost were much higher than the price for the complete blood count and urinalysis and much lower for the chest radiographs and especially for electrocardiogram. We propose that in performing economic analysis involving all these investigations, the actual cost should be used instead of the price.