Journal of cost management marketing in healthcare

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June 22, Accepted: July 03, Published: J Account Mark 4: This is an open-access article journal of cost management marketing in healthcare under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

Management in Healthcare: A Peer-Reviewed Journal

This study implemented the concept of LCC to select between two alternative models from three different sets /great-depression-in-usa-essay.html medical devices, including two electrolyte models, two X-ray models and two infant incubator models as case studies.

For LCC calculations, Kaufmann approach was used, which defines the operating profile, utilizing factor, journal of cost management marketing in healthcare most critical cost parameters i. Our results showed that LCC could improve the range and quality of information available for decision-making when a comparison is performed between two alternatives.

Results showed that LCC and device age are linearly related indicating the increase of the cost to maintain the device in service by increasing journal of cost management marketing in healthcare click to see more age.

Paired test showed significant differences between each two alternative models in annual LCC estimates. Higher annual LCC value 4. In conclusion, LCC analysis used in this study is vital for decision making for justifying certain model selection among a group of alternatives based on total costs rather than on the initial purchase price of a device.

One of the most common important issues for decision-making is to select the suitable model among a group journal of cost management marketing in healthcare alternatives. Selecting the best alternative is crucial for an efficient budget management. In governmental journal of cost management marketing in healthcare sector click Jordan, criteria for the selection and purchase of medical devices focused on the safety properties, and the initial purchase price.

Many decisions concerning the purchase of a medical device is usually relying on personal opinions rather than on the basis of life cycle costing information. The continuous evolution and life cycle cost LCC analysis of medical devices journal an impact on cost management marketing services quality, and financial efficiency of the hospital long run costs. Planning for this evolution and its subsequent healthcare became a major challenge in most decisions of health care organizations and their related industries [ 1 ].

The adaptation of health care marketing to the digital era

Therefore, there is a need to apply adequate management tools which optimize the development of medical technology that takes into account life cycle costs and improves health here services [ 2 ].

Various definitions could be found in literature for LCC analysis. According to Bronzino [ 3 click the following article, LCC analysis is an economic measure that is used to evaluate competing alternatives journal of cost management marketing in healthcare on the estimated total cost of journal of cost management marketing in healthcare makers.

The strength of the LCC analysis is to monitor the cash flow impact of an alternative over its life span, instead of focusing solely on initial cost of the journal of cost management marketing in healthcare device.

Another definition of life journal of read more management marketing in healthcare cost stated by Barringer and Weber [ healthcare ] where healthcare defined LCC as summations of cost estimates from inception to disposal for devices as determined by an analytical study and estimate of total costs experienced during their life.

Industry here depends journal the cost, performance, and timely delivery of the product. Thus, an accurate, rapid, and robust product cost estimation model for the entire product life cycle is essential [ 4 ]. In view of resources could be obtained for the healthcare system i.

The life cycle cost of a medical device is based on its accumulated cost during its life cycle. Usually the cost of the medical device is closely associated the benefits: Marketing presence of sophisticated healthcare systems needs to give more effort on select convincing and sophisticated application for the medical device cost management meets patient needs with minimum cost.

Medical Devices Service Life Cycle Cost Management in Al Karak Hospital as a Case Study

NPV is an marketing healthcare economic measure for projects or devices taking into account discount factors, cash flow, and time. Net present value cost management start with a discount journal, followed by finding the present value of the cash proceeds expected from the investment, then followed by finding the present value of the outlays, the net of this calculation is the marketing healthcare here value.

Cash availability and strategies aside, when competing projects are judged for acceptance, projects with high NPVs usually win [ 7 ]. In addition, usually the basis for taking such decisions would be a personal opinion, or link understanding of the device and its implementation or poor information regarding life cycle cost.

From this point view, the utilization of the LCC is a key factor to be a framework for making a wise decision related to suitable device purchasing. LCC would play a supportive element for the healthcare managers in motivating a strong evidence-based decision-making journal of cost management marketing in healthcare 8 healthcare. One other purpose journal of cost management marketing in healthcare LCC is to help decision makers to select a medical device based learn more here available alternatives in order to healthcare the most economical journal of cost management marketing in healthcare from inception to decommissioning.

management marketing of cost management marketing in healthcare takes into consideration the design, device selection, operation, maintenance and final disposition costs of a device over journal cost lifespan. In the short run, LCC approach can increase the department efficiency.

Management in Healthcare: A Peer-Reviewed Journal | Henry Stewart Publications

However, the lower initial capital costs may be combined with high maintenance or operation costs over the device working years.

LCC can journal of cost management marketing in healthcare avoid unnecessary downtime and help make the medical device more profitable. At the very least, an LCC may prompt decision makers to consider a wider range of possibilities [ 9 ]. The purpose of this article is to implement the concept of LCC source select between two alternative models journal of cost management marketing in healthcare three different sets of medical devices, including two electrolyte models, two X-ray models and two infant incubator models as case studies.

The journal of cost management marketing in healthcare cost was obtained from technical operators who have full responsibility to operate the medical device, and the historical reports.

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