Medical Subject Headings (MeSH): Accounting

Accounting in healthcare refers to the process of measuring, analyzing, and communicating financial information about healthcare organizations and providers. This includes the recording, classifying, and summarizing of financial transactions and preparing financial statements that provide information about the financial performance and position of the organization.

Examples of accounting in healthcare include:

Financial reporting: This includes the preparation of financial statements, such as income statements, balance sheets, and cash flow statements, which provide information about the financial performance and position of the organization.

Budgeting and forecasting: This involves the preparation of budgets and financial projections that are used to plan and manage the financial resources of the organization.

Cost accounting: This involves the identification, measurement, and analysis of the costs of providing healthcare services, which can be used to improve the efficiency and effectiveness of the organization.

Compliance: This includes ensuring that the organization’s financial practices comply with laws, regulations, and industry standards, such as the Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS).

Auditing: This includes the independent examination of financial statements and other financial information to provide assurance that the information is accurate and reliable.

Revenue cycle management: This includes the management of the financial aspects of the organization’s patient care services, such as patient registration, billing, and collections.