Accounting methodologies in healthcare
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What cost accounting methodologies are used in healthcare?
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Solution Summary
Activity-based costing defines healthcare costs in terms of a healthcare organization's processes or activities.
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Comment to student: I am pasting information from the following web link This web page provides comprehensive answer to your question. This article basically explains the activity based cost accounting system for health care organizations.
Activity-Based Costing (ABC) - Activity-based costing defines healthcare costs in terms of a healthcare organization's processes or activities. The costs are then associated with significant activities or events. It relies on the following 3 step process: 1) Activity mapping, which involves mapping activities in an illustrated sequence; 2) Activity analysis, which involves defining and assigning a time value to activities; and, 3) bill of activities, which ...
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