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Article: Cost accounting supports clinical evaluations.
- Article from:
- Healthcare Financial Management
- Article date:
- April 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 Healthcare Financial Management Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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COST CONTAINMENT
This article describes how a hospital cost accounting system was used to evaluate the financial impact of the use of a new and expensive drug at a 700-bed academic medical center.
Hospital cost accounting systems have changed considerably in recent years. Prior to the advent of Medicare's prospective payment system, the Medicare Cost Report was the only approximation of cost accounting in most hospitals. As hospital payment methods have changed, so have the concepts of cost accounting for hospitals.(a) Today, most hospitals that have invested in new cost accounting systems have done so to improve productivity and cost management, to evaluate ...