This vacuum is fulfilled by Activity Based Costing tool provided by Paras HMIS. ABC tool identifies resources in the hospital and assigns cost to each of them to analyze profit, loss et al.
Typically, hospitals incur three types of expenses on services.
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Material Pack which refers to the cost of the hardware.
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Service cost which includes the cost of operating the hardware
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Apportioned cost which means costs like electricity bill, human resource and others.
ABC tool available with Paras documents the expenses for all the services offered and is used as an intelligence tool to analyze what could be the best way to make profit.
