The cost ratio formula demonstrates the cost of a specific procedure or service. This value helps identify the cost-effe

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The Cost Ratio Formula Demonstrates The Cost Of A Specific Procedure Or Service This Value Helps Identify The Cost Effe 1 (180.81 KiB) Viewed 32 times

The cost ratio formula demonstrates the cost of a specific procedure or service. This value helps identify the cost-effectiveness of a service offered at the office. For instance, maintaining radiology services in a medical facility: Would it be cost-effective to continue this service in-house or to have patients go outside for radiological services? The cost ratio formula is: Total Expenses - Total Number of Procedures for One Month = Cost Ratio 1. Why do you think it is important to review costs and do an analysis on income and expenses? How would you as a medical assistant be able to use this knowledge to further your career and goals? 2. How does completing a cost-benefit analysis assist the facility in making business decisions ? What are the steps for completing a cost- benefit analysis?