Managerial economics focusing on cost and revenue analysis

Type :

Term papers

Pages :

19 pages

Format :

.doc

Published date :

03/12/2009

Category :

Economics & finance

Sub category :

Economics

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Summary :

Introduction
Cost and Revenue Analysis terms and definitions
Understanding how cost and revenue analysis can help financial sustainability
Considering the benefits of cost and revenue analysis
Cost and revenue analysis can help you determine reducing costs
Increasing revenues responding to changes in demand and costs
Using cost and revenue analysis to make management decisions
Exploring cross-subsidization strategies
Recover costs using cross-subsidization strategies
Using a cost and revenue analysis tool
Developing fixed costs, variable costs, and revenues for a multi-service or multi-center program
Improving sustainability through a cost and revenue analysis
Planning for the future
Integrating cost and revenue analysis into ongoing activities
Checklist for using cost and revenue analysis tools
Configuration variants
The relationship between marginal cost and average cost

Abstract

Health service providers have to carefully manage the use of scarce resources while meeting a growing demand for services and rising expectations for quality. Conducting cost and revenue analysis can greatly increase a managers' understanding of the factors that affect resource use, including staffing patterns, service mix, service practices, and procurement. The information these analysis generate helps managers consider different ways of producing services in order to reduce costs, increase revenues, or both. Conducting a cost and revenue analysis is particularly useful to organizations that are trying to meet major management challenges, such as expanding existing services, integrating new services, or working toward financial sustainability. This issue of The Manager shows why a cost and revenue analysis is useful and suggests various options for increasing cost efficiency and revenue generation. The issue presents three electronic spreadsheet software tools for analyzing costs and revenues and discusses the types of decisions managers can make using these tools. The issue also presents the tools' features, data requirements, and the kinds of information they can generate.