Explain the variable costs and give an example

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Question: Just like any industry, healthcare has its own language. Healthcare managers must be able to classify various costs associated with day-to-day operations. For this discussion, you will incorporate the course textbook readings to discuss the assigned costs listed below.

Please, explain the Variable Costs and give an example of that type of cost as it relates to a healthcare facility (i.e., physician practice, hospital, long-term care facility, urgent care, specialty group practice, or surgery center). Include in your response why it is important for the healthcare manager to know the differences between all the costs listed when determining financial status.

Keegan, A. J. (1994). Hospitals become cost centers in managed care scenario. Healthcare Financial Management?: Journal of the Healthcare Financial Management Association, 48(8), 36-39.

Reference no: EM133327504

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