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Cost Analysis of Medical Procedures: A Case Study on Interventional Radiology

Author

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  • Jacek Kalinowski

Abstract

Purpose: This article aims to establish a comprehensive methodology for calculating the costs of medical procedures, focusing on interventional radiology. The study provides precise financial insights to enhance decision-making, optimize resource allocation, and improve financial stability in healthcare organizations. Design/Methodology/Approach: A mixed-methods approach was applied, incorporating, case study analysis of a private hospital in Poland ("Hospital X"), community-based participant observation (CBPO) involving medical staff, analysis of operational, medical, and financial documentation, unstructured interviews with medical staff conducted over a three-year research period (2021-2024). Findings: The study presents a structured cost-accounting system tailored to coronary angiography and intravascular ultrasound (IVUS). Key findings include, accurate cost categorization into direct and indirect costs, application of advanced costing methods (e.g., activity-based costing, process costing), improved operational efficiency and internal communication following system implementation. Practical implications: The findings offer actionable strategies for healthcare entities to enhance cost management and minimize financial risks. The developed methodology supports precise procedure valuation and informed strategic decisions, such as investments in advanced medical technologies. Originality/Value: This study bridges theoretical cost-accounting frameworks and their practical application in real-world healthcare settings. It highlights the value of participatory research methods in refining cost analyses and optimizing financial management systems.

Suggested Citation

  • Jacek Kalinowski, 2024. "Cost Analysis of Medical Procedures: A Case Study on Interventional Radiology," European Research Studies Journal, European Research Studies Journal, vol. 0(Special A), pages 290-300.
    • Handle: RePEc:ers:journl:v:xxvii:y:2024:i:speciala:p:290-300
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    References listed on IDEAS

    as
    1. Xiao Xu & Christina M. Lazar & Jennifer Prah Ruger, 2021. "Micro-costing in health and medicine: a critical appraisal," Health Economics Review, Springer, vol. 11(1), pages 1-8, December.
    2. Gregoire Mercier & Gerald Naro, 2014. "Costing Hospital Surgery Services: The Method Matters," PLOS ONE, Public Library of Science, vol. 9(5), pages 1-7, May.
    3. Chrysanthos D. Christou & Eleni C. Athanasiadou & Andreas I. Tooulias & Argyrios Tzamalis & Georgios Tsoulfas, 2022. "The process of estimating the cost of surgery: Providing a practical framework for surgeons," International Journal of Health Planning and Management, Wiley Blackwell, vol. 37(4), pages 1926-1940, July.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Management accounting; activity based costing (ABC); healthcare management; interventional radiology.;
    All these keywords.

    JEL classification:

    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health

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