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Doody's Review ServiceReviewer: Lena L Watson, Dr. RN, MBA/HCM(University of Phoenix)
Description: This is the third edition of a book that provides the fundamental principles of cost accounting across the span of healthcare.
Purpose: It strives to provide healthcare managers with a basic understanding of cost accounting information to aid in critical decision making, an imperative in today's healthcare industry.
Audience: The audience is varied. It is appropriate for healthcare professionals responsible for cost accounting decision making and management, but it is also ideal as a textbook for college level healthcare students and professors. This is an excellent resource for anyone interested in acquiring basic knowledge of healthcare cost accounting. Financial managers, administrators, and marketing and contract managers may benefit from the information covered in this book.
Features: There are several positive features of this book. It covers a vast amount of complex information in a clear and concise manner. Cost accounting is covered in different context including: a) planning and controlling; b) decision making; c) quality; and d) future demands. The book is simply formatted and easy reading. It has useful diagrams, tables, and figures throughout the book. The references at the conclusion of each chapter make it easy to locate resources discussed in each chapter. The end of each chapter contains discussion questions, exercises, and case studies to reinforce learning objectives and enhance critical thinking. The book also has a supplemental instructor's manual that's available online for classroom use. The only shortcoming is the fact that it's a paperback. Because it will get frequent use, it would be better if it were hard cover.
Assessment: As a third edition, this book provides the latest information on the changing demands of cost accounting in healthcare organizations. The three authors are well known in healthcare and give this book instant recognition and credibility. In addition, the content and its unique approach to cost accounting make this a must-have for healthcare educators and managers.