infectious disease. For example, making an effort to avoid catching the common cold affects people other than the decision maker.
Explanation of role of economists in health care industry :
4 roles for trained health economists
Q. 3 Discuss the importance of financial information in healthcare organisations. Answer : Financial information :
Data such as credit card numbers, credit ratings, account balances, and other monetary facts about a person or organization that are used in billing, credit assessment, loan transactions, and other financial activities. Financial information must be processed in order for business to be conducted, but it must also be carefully handled by businesses in order to ensure security for customers and to avoid the litigation and bad publicity that can stem from negligent or improper use
importance of financial information in healthcare organizations :
1.One of the many definitions of
Q.4 Explain different methods of evaluation of healthcare services. Answer : Different methods :
1. Types of Quality of Care Measures : 2. Outcome Measures : 3. Process Measures : 4. Structure Measures: 5. Comprehensiveness of Measures:
1. Types of Quality of Care Measures :
Process measures assess whether a patient
Q.5 Define cost accounting. Explain the various categories of costs. Answer: Cost accounting :
Cost accounting is a process of collecting, analyzing, summarizing and evaluating various alternative courses of action. Its goal is to advise the management on the most appropriate course of action based on the cost efficiency and capability. Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future. Unlike the accounting systems that help in the preparation of financial reports periodically, the cost accounting systems and reports are not subject to rules and standards like the Generally Accepted Accounting Principles.
Various categories of costs : 1.Fixed Cost