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Only in recent years have hospitals begun to develop meaningful systems of cost accounting. Why did...

Only in recent years have hospitals begun to develop meaningful systems of cost accounting. Why did they not begin this development sooner?

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Answer #1

Why did they not begin this development sooner?

  • Hospitals initially lacked resources to develop meaningful systems of cost accounting
  • Hospitals lacked enough funds to upgrade cost accounting
  • In the beginning, cost accounting did not feel the need of developing cost accounting
  • Initially Hospitals did not encounter so many scams related to funds
  • Initially the Hospitals process was not so complex and intensive, hence Hospitals did not feel the need of developing cost accounting
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