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Posted: April 9th, 2022
Prior to beginning work on this discussion, please read Chapters 4, 5, 6, 7, and 8 in your course textbook and the Hospitals Become Cost Centers in Managed Care Scenario (Links to an external site.) article. Just like any industry, healthcare has its own language. Healthcare managers must be able to classify various costs associated with day-to-day operations. For this discussion, you will incorporate the course textbook readings to discuss the assigned costs listed below.
In your initial response, explain the cost assigned to you (Period Costs) and give an example of that type of cost as it relates to a healthcare facility (i.e., physician practice, hospital, long-term care facility, urgent care, specialty group practice, or surgery center). Include in your response why it is important for the healthcare manager to know the differences between all the costs listed when determining financial status. Your initial post should be 250 to 300 words.
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Please read Chapters 4, 5, 6, 7, and 8 of your course textbook as well as the article Hospitals Become Cost Centers in Managed Care Scenario (Links to an external source.) before commencing work on this discussion. Healthcare, like any other business, has its own lingo. Healthcare executives must be able to categorize numerous expenditures connected with daily operations. You will use the course textbook readings to debate the allocated charges stated below in this discussion.
In your initial response, explain the cost assigned to you (Period Costs) and give an example of that type of cost as it relates to a healthcare facility (i.e., physician practice, hospital, long-term care facility, urgent care, specialty group practice, or surgery center). Include in your response why it is
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