Hospital; Healthcare; Accounting; Budgeting
All rights retained by Bryant University and Amanda Whitehouse
Within an industry constantly pursuing accuracy, a cost accounting system that addresses the ongoing concerns of saving money and increasing efficiency is a must. Now more than ever, hospitals require reliable information to combat the conflicting relationship between an increase in spending on new instruments and specialized staff, but a decrease in funding. This project explores potential avenues to find a successful cost accounting method using past research, analysis of hospitals’ current environments, and expert opinions from hospital and healthcare personnel. Each hospital is different based on their environment, surrounding population, type of services provided, and personal demands. This study seeks to contribute to previous studies attempting to debunk the navigation process for each hospital looking to find their cost accounting perfect match and where sights should be set on in the future.