9/24/2020· Healthcare Facilities - Hospitals
Hospital Cost Accounting: Million Dollar Decisions Should Not Be Based on “Guesstimates”
By: Sahel Shwayhat, MBA, FACHE
All well-run businesses use data to drive their decisions. The higher the stakes, the more accuracy they demand from their data. Hospitals are businesses, even not-for-profit ones, and should conduct their operations like any other business. The area where hospitals lag far behind other businesses is in cost accounting.