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and varies according to different factors. Direct cost related to providing direct product service Indirect cost incurred in support of providing product services.
Cost containment y y y y y y Cost monitoring focuses on how much will be spent, where when and why. Cost management - what can be done to manage cost Cost incentives motivation and rewards Cost avoidance not buying supplies, technology or services not necessary needed. Cost reduction spending less for goods or services. Cost control effective use of available resources through careful planning, forecasting and monitoring.
Procedure: Nursing service 1. 2. 3. 4. 5. 6. 7. 8. Determine productivity goal Forecast workload Budget patient care hours Budget patient care hours and staffing Plan for nonproductive hours Chart productive time Estimate the cost of supplies and services Anticipate capital expense