Cost Accounting and Financial Sustainability in Healthcare Delivery in Jere Local Government Area
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Chapter One: Introduction
Background of the Study
The healthcare sector plays a crucial role in promoting public health and well-being, especially in regions affected by limited resources and growing population demands. Cost accounting in healthcare allows for effective financial management, ensuring that funds are utilized efficiently to improve service delivery and support long-term financial sustainability. Cost accounting systems help healthcare organizations track expenses, allocate resources, and optimize operations, thus facilitating decision-making and better healthcare outcomes (Horngren et al., 2012).
In Jere Local Government Area (LGA), healthcare delivery systems have been challenged by financial constraints, inadequate infrastructure, and a high demand for services. According to Drury (2018), healthcare institutions must carefully manage costs to maintain operations and continue delivering essential services to communities. However, despite its importance, cost accounting practices in Jere LGA’s healthcare sector remain underdeveloped, leading to inefficiencies and challenges in sustaining operations. This study seeks to explore how cost accounting techniques can be leveraged to support financial sustainability in the healthcare delivery system in Jere LGA, focusing on cost allocation, budget management, and resource utilization.
Statement of the Problem
Healthcare institutions in Jere LGA face financial instability due to inefficient cost management practices. The lack of effective cost accounting systems contributes to poor resource allocation, excessive spending, and suboptimal service delivery. Without a robust cost accounting framework, healthcare providers struggle to make informed financial decisions, which jeopardizes their long-term sustainability. This study investigates the role of cost accounting in enhancing the financial sustainability of healthcare delivery in Jere LGA, identifying key challenges and potential solutions.
Aim and Objectives of the Study
The aim of this study is to evaluate the role of cost accounting in promoting financial sustainability in healthcare delivery in Jere Local Government Area.
The objectives are:
1. To assess the extent to which cost accounting is implemented in healthcare delivery in Jere LGA.
2. To identify the challenges faced by healthcare institutions in adopting cost accounting practices.
3. To examine the impact of cost accounting on the financial sustainability of healthcare delivery.
Research Questions
1. To what extent is cost accounting implemented in healthcare delivery in Jere LGA?
2. What challenges hinder the adoption of cost accounting practices in healthcare institutions?
3. How does cost accounting contribute to the financial sustainability of healthcare delivery in Jere LGA?
Research Hypotheses
1. Cost accounting is poorly implemented in healthcare delivery in Jere LGA.
2. Challenges such as lack of expertise and limited resources hinder the adoption of cost accounting in healthcare institutions.
3. The implementation of cost accounting significantly improves the financial sustainability of healthcare delivery in Jere LGA.
Significance of the Study
This study provides insights into the role of cost accounting in ensuring the financial sustainability of healthcare delivery. The findings will be valuable to healthcare administrators, policymakers, and other stakeholders aiming to improve the financial health of healthcare institutions in Jere LGA. Additionally, the study contributes to the growing body of research on cost management in the healthcare sector (Bhimani et al., 2019).
Scope and Limitation of the Study
The study focuses on healthcare institutions in Jere LGA and examines their use of cost accounting in managing financial sustainability. Limitations include the potential challenge of accessing detailed financial data from healthcare institutions and potential biases in self-reported information.
Definition of Terms
• Cost Accounting: The process of recording, analyzing, and allocating costs to determine the cost of goods or services.
• Healthcare Delivery: The provision of medical and health services to the public.
• Financial Sustainability: The ability of an organization to maintain and manage its financial resources over the long term without compromising service delivery.
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