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A strategist's deep knowledge of regulation, innovation, and trends complements a finance expert's understanding of cost and revenue, capital allocation, and stakeholder issues.
The new approach clearly required an accurate understanding of cost by product and customer that Jim Green, Kemp's CEO, would use to instill a "low total cost" culture throughout the organization.
With impending changes such as the transition to a bundled payment system, it is crucial for orthopedic trauma surgeons to develop a better understanding of cost drivers for the treatment of ankle fractures.
That being the case, understanding of cost effectiveness of multidisciplinary rehabilitation is important.
The understanding of cost drivers may help optimise healthcare expenditure and inform the development of appropriate prevention policies.
The impact of financial incentives designed at a policy level is influenced by the understanding of cost and benefits at the local operational level.
Similar(49)
Students perceived this resource as an effective learning tool that was easy to understand and that facilitated their understanding of costing systems, fixed overhead variance analysis, and the importance of predetermined overhead rates.
Margaret Hodge, chair of the PAC, said: "The project was rushed, without proper understanding of costs or risks.
To achieve value for money, it needs to better define the service it is aiming for, improve its understanding of costs and develop its implementation plan".
Hodge's PAC verdict, reinforced by interviews with senior Whitehall and fire service officials, is pretty harsh: "The project was rushed, without proper understanding of costs or risks.
Critics argue that bundled payments require an understanding of costs that most providers lack, which puts them at unfair financial risk.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com