Avoidable Cost

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Avoidable Cost

A cost that a company does not have to pay if it does not take an intended action or cancels an ongoing action or activity. Avoidable costs are not necessary and generally are variable.
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With its ability to consolidate myriads of data, Fusionex GIANT crunches the numbers and provides its business users the results of variables such as the identifying of customer purchasing trends, avoidable costs due to wastage, and understanding how location and seasonal factors affect one's business.
Whether through a member portal or EHR, once a payer or provider has access to analyzed information they are well positioned to help their patients and society improve clinical outcomes, such as addressing why 20 percent of the population do not come back for follow-up visits nor fill their prescriptions; enhancing participation in wellness management programs; reducing avoidable costs by identifying actions or care plans that can lower the chance of complications or the continuation of adverse outcomes; and minimizing fraud and abuse--for example, by identifying an orthopedic surgeon overprescribing Xanax or another controlled substance.
Each year, healthcare associated infections cost hospitals billions in avoidable costs.
The findings were based on the estimate of the avoidable costs of smoking among smokers with mental problem in the United Kingdom between the year 2009 and 2010.
com)-- Sharing a strategy for achieving reliability goals while minimizing avoidable costs, InStep Software will discuss how nuclear power plants, electric power providers and other industrial organizations across the globe can take advantage of the rapidly growing amounts of operational data with a predictive analytics solution at the ISA POWID Symposium.
Preoperative assessment is expected before surgical procedures, but results in unnecessary delays and avoidable costs for low-risk surgical procedures.
The ACO care delivery model coordinates care between patients and members of the healthcare team with the goal being to help strengthen the physician-patient relationship, leading to better care and reduced avoidable costs over time.
Ideally, a member of staff will be appointed to ensure compliance, for in these hard times, the last thing that any company needs is additional, but avoidable costs.
With such collaboration, we can then give hope to the helpless and put an end to avoidable costs of financial assistance and physical and medical care, instead of making them burdens on society and governments.
Early 20th century economists converged on the simple opportunity cost principle of only including avoidable costs in the formulation of total costs.
The latest figures coincide with the launch of the organisation's Giving Voice campaign, aimed at raising awareness of the importance of speech and language therapy in enabling people to develop or regain vital communication and swallowing skills; as well as reducing avoidable costs and waste in the NHS, local authorities, the criminal justice system and the wider economy.
UNION finance minister Pranab Mukherjee has not only advised his own cabinet colleagues that avoidable costs must be cut.