Cost per procedure
Cost per procedure
Cost per procedure (pronunciation: /kɒst pər prəˈsiːdʒər/) is a term used in healthcare economics to refer to the total cost incurred for a single medical procedure. This cost includes all the resources used in the procedure such as medical equipment, pharmaceuticals, healthcare professional time, and hospital overhead costs.
Etymology
The term "cost per procedure" is derived from the English words "cost" (from Old French coster, from Latin constāre meaning 'to stand at something, cost'), "per" (from Latin per meaning 'through, along, by means of') and "procedure" (from Latin procedere meaning 'to go forward, advance, proceed').
Related Terms
- Cost-effectiveness analysis: A form of economic analysis that compares the relative costs and outcomes (effects) of different courses of action.
- Direct costs: Costs that can be directly attributed to a specific procedure or treatment.
- Indirect costs: Costs that are not directly accountable to a cost object (such as a particular project, facility, function or product).
- Out-of-pocket cost: The costs that the patient must pay out of their own pocket.
- Healthcare provider: An individual or institution that provides medical services.
- Healthcare system: The organization of people, institutions, and resources to deliver healthcare services to meet the health needs of target populations.
External links
- Medical encyclopedia article on Cost per procedure
- Wikipedia's article - Cost per procedure
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