ICAI to Provide Expert Advice to Hospitals on Cost Management
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In order to make the healthcare providers manage their expenses wisely the Institute of Cost Accountants of India (ICAI) will now assist hospitals to put in place efficient cost accounting systems. ICAI has tied up with Association of Healthcare Providers (India) and Delhi Medical Association in this regard.
The cost accountants would provide expert advice to hospitals for having a system to manage and control costs more efficiently. Initially, 25 hospitals in and around NCR will be covered.
According to ICAI President A S Durga Prasad, the ultimate aim is to have a systematic and scientific costing system depending on the size of the hospital.
He added that this system will also help in computing cost of treatment through established medical procedure existing in hospitals and promote standardisation of treatment costs.
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