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An explicit cost is a direct payment made to others in the course of running a business, such as wage, rent and materials, [1] as opposed to implicit costs, where no actual payment is made. [2] It is possible still to underestimate these costs, however: for example, pension contributions and other "perks" must be taken into account when ...
The settlement also addressed gaps in charity care (free or reduced care for low-income uninsureds) and limited collections practices. The class received refunds or bill adjustments of between 25% and 45% off their prior hospital bills, at an estimated total value of $276 million.
For scale, cutting administrative costs to peer country levels would represent roughly one-third to half the gap. A 2009 study from Price Waterhouse Coopers estimated $210 billion in savings from unnecessary billing and administrative costs, a figure that would be considerably higher in 2015 dollars. [50] Cost variation across hospital regions.
A new report from the Kaiser Family Foundation estimated that the total cost of coronavirus treatment in a hospital could top $20,000 when factoring in out-of-pocket costs and insurance coverage.
Online video platforms allow users to upload, share videos or live stream their own videos to the Internet. These can either be for the general public to watch, or particular users on a shared network. The most popular video hosting website is YouTube, 2 billion active until October 2020 and the most extensive catalog of online videos. [1]
Costs per stay increased 47% since 1997, averaging $10,000 in 2011 (equivalent to $13,544 in 2023 [31]). [132] As of 2008, public spending accounts for between 45% and 56% of US healthcare spending. [133] Surgical, injury, and maternal and neonatal health hospital visit costs increased by more than 2% each year from 2003–2011.
It is different from accounting profit, which only relates to the explicit costs that appear on a firm's financial statements. An accountant measures the firm's accounting profit as the firm's total revenue minus only the firm's explicit costs. An economist includes all costs, both explicit and implicit costs, when analyzing a firm. Therefore ...
Total variable cost (TVC) is the same as variable costs. [5] Fixed cost (TFC) are the costs of the fixed assets those that do not vary with production. [6] Total fixed cost (TFC) Average cost (AC) are total costs divided by output. AC = TFC/q + TVC/q Average fixed cost (AFC) is equal to total fixed cost divided by output i.e. AFC = TFC/q. The ...