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As reimbursement levels from all sectors of the health insurance industry have decreased, it has become increasingly important for HCOs to manage their costs. Thus, Cost Accounting has become extremely important. Using Chapter 10 in our textbook (paraphrase, do not just copy),
- Define Cost Accounting.
- Describe the different ways of classifying and allocating costs.
- Using your own experience, what are some ways expenses are being controlled?