Paras integrated ABC module
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The document describes PARAS-Integrated ABC Module, an activity-based costing model for hospitals. The model identifies activities and assigns costs to products and services based on consumption. It breaks costs down into material packs, service costs, and apportioned overhead costs shared among activities. Hospitals need activity-based costing to understand costs in detail and ensure smooth functioning and sustainability.
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Activity Based Costing System
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Activity based costing is considered to be useful only for Manufacturing Organizations whereas reality is that it is equally usefull to Service providers
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Activity base costing
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- The example company implements ABC to more fairly assign indirect manufacturing costs like inspection and materials handling to different product managers based on their activity usage, rather than just units produced. This provides better cost information and incentives to control indirect costs.
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Paras integrated Activity Based Costing
The document describes an Activity Based Costing (ABC) model called PARAS-Integrated ABC Module. The ABC model identifies activities in an organization and assigns the costs of activity resources to products and services based on actual consumption. It presents an ABC flowchart showing how material pack costs, service costs, and apportioned overhead costs are assigned to services and ultimately to customers. The document explains that hospitals need ABC to understand costs in detail, assign human resource and other complex costs, and improve billing processes.
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Activity based costing (ABC) is a management accounting approach that allocates direct and indirect costs to products and services based on the activities and resources required to produce them. It provides more accurate cost and profit information than traditional methods by tracing costs to activities and then to cost objects using activity drivers. The key steps in ABC are identifying activities and resources, assigning resource costs to activities, and assigning activity costs to cost objects using activity consumption drivers. This allows management to understand cost and profitability at a more granular level and improve decision making.
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Endoscopy is a non-surgical procedure used to examine a human digestive tract.An
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1) ABC assigns overhead costs to products and services based on their actual consumption of activities, rather than simple allocation bases like direct labor hours.
2) The concept originated in US manufacturing in the 1970s-80s to better understand overhead costs.
3) ABC identifies unprofitable products/processes and helps set appropriate prices to maximize profits.
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Overhead costs are indirect costs that cannot be directly traced to specific products or services. Absorption costing and activity-based costing (ABC) are two approaches to allocating overhead costs. Absorption costing uses cost centers and predetermined overhead rates to allocate overhead, while ABC identifies activities causing overhead and assigns costs based on cost drivers. ABC aims to improve cost accuracy but requires more resources and its outputs still involve subjective allocations. Both methods allocate fixed overhead costs that may remain even if a product is discontinued.
Activity base costing
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- Traditional volume-based costing assigns overhead costs based on units produced, which may not accurately reflect consumption of activities. ABC instead identifies activities at various levels and assigns their costs based on consumption of each activity.
- The example company implements ABC to more fairly assign indirect manufacturing costs like inspection and materials handling to different product managers based on their activity usage, rather than just units produced. This provides better cost information and incentives to control indirect costs.
Abc on nestle final. converted
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I proposed service architecture from the viewpoint of Service Dominant Logic.
Job Costing & ABC costing
Activity-based costing (ABC) is a method that allocates costs to products and services based on the activities consumed by each. It assigns costs to products by tracing expenses to activities, and then charges each product based on the extent it uses each activity. The primary objective of ABC is to assign costs in a way that reflects the physical dynamics of the business. It helps identify inefficient areas and unnecessary costs.
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This document discusses cost modeling in business process reengineering (BPR), activity-based costing (ABC), and executive information systems (EIS). It defines a cost model as rules for allocating expenses to accounts. It describes ABC as assigning indirect costs to activities based on resource consumption. EIS provides executives with integrated internal and external data in graphical formats to aid trend analysis and decision making.
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PARAS provides handheld devices that allow patients access to health reports, prescriptions, appointments, and treatment details from anywhere, reducing costs and travel. The devices also enable doctors to monitor patients, guide nurses in emergencies, and facilitate cross-consultation. By introducing these handheld technologies, PARAS helps hospitals improve workflow efficiency, communication, and overall patient care.
Iom gold standards
PARAS is a healthcare software that aims to improve patient safety and support clinical decision making in line with IOM gold standards. It provides data and guidelines that comply with these standards to minimize biased health decisions and uncertainty. By developing functionality according to reliable clinical practice guidelines consistently, PARAS helps identify trustworthy guidelines and solve difficult decision problems. It delivers a better patient-centric approach through following transparency and objectivity standards.
Ip flow
PARAS focuses on improving inpatient care and streamlining the inpatient flow process. It enables hassle-free inpatient billing and tracking from patient registration through discharge. PARAS avoids readmission and double billing errors by tracking daily service details. It also handles various billing categories to help hospitals estimate costs and optimize performance.
Icd 10
ICD-10 has transformed healthcare by improving patient care, facilitating better medical practices, and benefiting healthcare professionals. It provides a stronger framework than ICD-9 for tracking diseases, injuries, and other health issues. Hospitals should maximize its benefits by complying with ICD-10 guidelines in order to assure quality of care. PARAS, a healthcare software, has also enabled ICD-10 compliance to classify medical data and measure outcomes, allowing hospitals to accomplish success through its use.
Tablet computing
Tablet computing is increasingly being used in healthcare to improve patient care and convenience. PARAS has introduced tablet computing across its hospitals to reduce errors, provide real-time access to patient records from anywhere, and facilitate secure communication. The tablets allow physicians to monitor patients and guide nurses from anywhere. PARAS's innovative tablet computing solution has enhanced patient care and helped both patients and healthcare providers by saving time and increasing accessibility of health information.
Business continuity 1
PARAS is an advanced hospital management software that integrates business and clinical modules to help hospitals smoothly manage finances, assets, patients, and revenue cycles. It addresses major issues faced by hospitals like revenue leakages through modules that track accounting, payables, receivables, and inventory. PARAS provides a comprehensive solution to streamline operations, fuel revenue growth, and enhance business continuity for healthcare institutions.
Healthcare analytics
PARAS Healthcare analytics have helped deliver quality outcomes. New innovations using healthcare analytics can help hospitals gain insights into effectiveness and efficiency to evaluate and deliver quality patient care. PARAS, with its approaches to manage chronic illness, preventive medicine innovations, and disease treatment optimizations, provides a complete framework to improve outcomes and efficiency for world-class hospitals.
Promoting more appropriate pharmaceutical utilization with paras
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Every hospital should have its own pharmacy department to better serve patients. Integrating pharmacy operations into the overall hospital system can help stop revenue leaks and allow for monitoring of drug assets and conditions. The PARAS pharmacy module can manage entire pharmacy operations within a hospital. It links store and billing systems, maintains drug information, and automatically transfers patient charges to bills when medicines are collected, preventing manipulation and lost revenue. PARAS also helps review medication issues and maintain drug inventory details, providing an end-to-end solution by integrating hospitals and pharmacies.More from Srishti Software Applications Pvt Ltd (20)
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- 3. ABC Flowchart Slide © 2010 Srishti Services Services/ Activities Material Pack Apportioned Cost MP 1 MP 2 Service 1 Service 2 Service n Electricity cost Human Resource Others
- 11. THANK YOU..!!! Slide © 2010 Srishti
Editor's Notes
- Title needs change: It should suggest the topic - eg: PARAS - Innovative HMIS solution from Srishti