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.
References in periodicals archive ?
ERN GENTURIS is addressing the following challenges when it comes to the identification, genetic testing, tumour prevention and treatment of patients with genturis: 1) Great majority of genturis patients are not yet identified 2) Large variation in clinical outcomes resulting in impaired prognosis and avoidable costs 3) Guidelines are lacking or implemented insufficiently 4) Almost no patient registries and biobanks 5) Limited research programs 6) Fragmented patient empowerment activities.
Lack of care coordination resulted in fragmented care that was hard for these individuals to navigate, and resulted in potentially avoidable costs in emergency room, hospital and institutional care.
"These unnecessary and avoidable costs pile on more pressure when people are trying to keep their bills as low as possible.
The Minister of Power,Works and Hiusing, Mr Babatunde Fashola, who kick-started the event, also listed other challenges where stakeholders must work together to improve upon in order to remove avoidable costs from road and related infrastructure development.
It is for cost accountants to help in innovation and improvement of processes and systems to reduce avoidable costs and make each rupee that is invested go that much further.
Anjum Nisar also viewed we must be ensured that the dynamic and enduring benefits from CPEC accrue to the people living in the deprived districts of Baluchistan and Southern KP and by playing a more active role in maximising the benefits to the people of deprived districts and containing avoidable costs, the government must able to allay a lot of misapprehensions and doubts.
Of the estimated avoidable costs, non-adherence (57%) far outpaced delayed evidence-based treatment practice (13%), antibiotic misuse (11%), and medication errors (9%) among total avoidable costs.
"We propose expansion of comprehensive medication management programs by clinical pharmacists in collaborative practices with physicians and other prescribers as an effective and scalable approach to mitigate these avoidable costs and improve patient outcomes," the authors write.
But the charity's report, Current, Future and Avoidable Costs of Stroke, predicts that an extra 9,000 people will be living with aphasia in less than 10 years' time.
In doing so, they are incurring avoidable costs and reduced business performance and profitability.
Through taking a more informed decision-making approach, the company has reduced avoidable costs related to faults by 40 per cent, including a 51 per cent reduction in energy-related faults as well as a 49 per cent reduction in faults causing improper zone conditions.
(2) In addition to putting patients at risk, medical errors contribute to substantial avoidable costs estimated to exceed $17 billion annually in direct costs in the U.S.