HSM 340 Discussions Week 3 DeVry

1. HSM 340 Discussions Week 3 DeVry Just Click on Below Link to Download This Course: https://www.devrycoursehelp.com/product/hsm-340-discussions-week-3-devry/ Or Email us help@devrycoursehelp.com HSM 340 Discussions Week 3 DeVry HSM 340 Cost Categories Discussions 1 Week 3 Discuss the role of direct and indirect cost in the overall costing process. How does each type affect the decisions made in expense control and analysis. Healthcare entities classify their cost as direct and indirect. What is the meaning and significance of these cost categories. How do they influence the costing and also the decisions made based on these classification. Focus on our TCO, lesson and text to try to understand these concepts and come-up with your answer. Indirect costs are administrative costs and they can also be the cost of services provided to the entity at large. Take IT services, they cannot be directly linked to a patient, but we know that no patient care can be completed without IT support. What other major areas do you feel can be classified as overhead? What about fixed and variable costs? Housekeeping is one cost that comes to mind. Why is it called indirect even if workers clean and maintain patient treatment rooms?… HSM 340 Cost Information Discussions 2 Week 3 Describe how cost information relates to the three key activities of management: planning, budgeting, and control. Cost information is useful in the three categories mentioned in this question. We know that all the activities need cost information and especially in this current healthcare environment where many decisions are based on cost data. Let’s discuss how cost is related to these categories and how they are used in management decision-making? How are planning and control related? Our TCO this week focuses on cost control. Also, in the course objectives it asks to explain what is meant by cost behavior, and differentiate between the five general types of cost behavior. How is cost behavior determined to be fixed or variable. Which type of cost is easier to control in the short-run or the long-run? What is the break-even in patient days for this nursing home, assuming no profit is required? How is that information needed for planning and control?….

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