Cost Accounting
MEDITECH's Cost Accounting software helps health care organizations monitor and control their costs. The module utilizes information found throughout the entire Health Care Information System (HCIS) to create detailed reports on comparisons of actual and
standard costs, fixed and variable costs, budgets, variance analyses, service profitability and departmental responsibility. The Cost Accounting application facilitates budget preparation, cost and profitability analysis as it enables an organization to:
- Analyze and report standard costs, by procedure, at the departmental and cost group level
- Compare the cost of providing services to the revenue received for each patient and groups of patients
- Develop budgets for expected volumes and standard costs by product line, expected number of cases, service units, and expected number of services.
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