Value Addition in Healthcare Industry – Role of CMAs

Abstract

Healthcare sector is rapidly growing from a small clinic to super speciality hospitals. Pricing is vital, as it cannot be too high, nor can be too low to cover the cost. Cost structure to be fully understood and cost sheets and prices need review and revision every year. Value addition by the CMAs, in Internal audit, Hospital Management System implementation, Setting up of internal controls, Project appraisal, Project Financing, Government subsidy planning, Government free patients’ schemes, all require high level of cost and management accounting and pricing techniques, where the CMAs can properly advise the management to keep the costs and pricing in balance, which in turn will contribute to the society at large.