The COVID-19 pandemic has strained hospital revenue because of reduced patient volumes and expenses related to the virus. To improve their financial picture, organizations must make cost-reduction ...

Calculating the true cost of care is essential for evidence-based medicine, reduced variation of care, and the new world of value-based purchasing. UPMC built its own tool for use across its 22 ...

Activity-based costing (ABC) is an accounting method that allows businesses to gather data about their operating costs. Costs are assigned to specific activities—planning, engineering, or ...

Value in health care is defined as outcomes achieved per dollar spent, and understanding cost is critical to delivering high-value care. Traditional costing methods reflect charges rather than ...

One of the seminal challenges of our healthcare profession is to measure actual costs in real time. All payers (e.g. the Centers for Medicare & Medicaid Services, employers, consumers/patients, etc.) ...

To meet increasing demand for cancer genetic testing and improve value-based cancer care delivery, National Cancer Centre Singapore restructured the Cancer Genetics Service in 2014. Care delivery ...

Cooper, Robin, and Robert S. Kaplan. "Yamatake-Honeywell Company, Ltd.: Activity-Based Costing System TN." Harvard Business School Teaching Note 195-107, October 1994.

Ho, David R., Robert S. Kaplan, Jonathan Bergman, David F. Penson, Benjamin Waterman, Kristin C. Williams, Jefersson Villatoro, Lorna Kwan, and Christopher S. Saigal. "Health System Perspective on ...

A process costing system is a technique used within the manufacturing industry to determine the total production cost of a unit of merchandise. It is particularly used in environments where production ...

Manufacturing organizations typically use traditional costing as a method of determining what it costs to make products. It combines an actual cost with a factor to calculate how to allocate indirect ...