Standard Occupational Classification (SOC): Cost Estimators

Cost estimators in healthcare are responsible for analyzing and forecasting the cost of healthcare services, products, and projects. They work to determine the most cost-effective and efficient ways to provide healthcare services, and they may also be involved in developing budgets and making recommendations for cost-saving measures.

In a healthcare setting, cost estimators may be responsible for evaluating the costs associated with various healthcare services, such as diagnostic testing, surgery, and medication. They may also be involved in analyzing the costs of healthcare products, such as medical devices and pharmaceuticals.

To perform their duties effectively, cost estimators in healthcare must have a strong understanding of healthcare finance and economics, as well as an understanding of the various factors that can impact the cost of healthcare services and products. They should also be skilled in data analysis and be able to work with complex financial models and software tools.

In addition to technical skills, cost estimators in healthcare should also have strong communication and interpersonal skills, as they may be required to work closely with healthcare professionals, administrators, and other stakeholders to gather data and provide cost estimates. They should be able to clearly and accurately present their findings and recommendations to these groups.