ICAI to help hospitals manage costs more efficiently

To help healthcare service providers manage expenses in a better manner, apex body of cost accountants ICAI will assist hospitals to put in place efficient cost accounting systems.
In this regard, the Institute of Cost Accountants of India (ICAI) today tied up with two medical groupings -- Association of Healthcare Providers (India) and Delhi Medical Association.
Under the arrangement, cost accountants would provide expert advice to hospitals for having a system to manage and control costs in a more efficient manner.
To begin with, 25 hospitals in and around the national capital region would be covered.
"The aim is to ultimately have a systematic and scientific costing system" that depends on the size of a hospital, ICAI President A S Durga Prasad said here.

This would also help in computing cost of treatment through established medical procedures existing in hospitals and promote standardisation of treatment costs, he noted.
Association of Healthcare Providers (India) Director General Girdhar J Gyani said an efficient cost accounting system would bring in more transparency.