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Hospital Accounting – An Accountants perspective

The following article shows the tip of the iceberg of hospital accounting. I have assumed some aspects to make it easier to elaborate on some topics. In real world some of these aspects explained below may be handled differently based on the situation and the hospital policies. See how bad debt is different than charity […]

Balance Sheet and Income Statement Comparison

Birds eye-view of the Balance Sheet and Income statement. Please remember its very high level comparison.   Balance Sheet and Income Statement Comparison Manufacturing Financial Services Assets Cash Cash Accounts Rec Investments Inventory Loans Fixed Assets Bldg’s Liabilities Accounts Payables Deposits Long Term Debt Savings Equity Other Borrowings Capital  Inc/Exp Sales Total Int. Income COGS Total. […]

Healthcare Guidelines & Marketing Principles

Healthcare service development covers the deployment of innovative technologies, newer services and even different organisational models. Traditionally, these have been done by a top-down process by forcing clinical guidelines on practitioners. Industry has faced similar situations when it launched new products or services and there is a lot that the healthcare industry can learn from […]

Activity Based Costing in Healthcare Industry – Cost per Major Disease Category/ Detail Line of Service

In the last article we saw how to calculate the cost per patient. Here we are looking at how to calculate the cost of a major disease category – a more detailed service line. Two patients undergoing heart surgery end up with differing costs, based on the staffing for the case, the duration of the […]

Activity Based Management in Healthcare Industry – Cost to serve a patient

The hospital’s goal is to deliver high quality care at low cost; and that’s where Activity Based Costing helps in getting the visibility into the costs.  This article is based on a simplistic approach to show how Activity Based Costing (ABC) can be used to arrive at the cost to serve a patient. The same […]

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