Cost accountants' institute seeks costing guidelines for healthcare sector
The cost accountants' institute has sought costing guidelines for the healthcare sector as well as bringing hospitals in the non-corporate sector under mandatory costing framework.
Currently, maintenance of cost records and cost audit requirement are applicable only for certain classes of companies under the Companies Act, 2013.
The Institute of Cost Accountants of India's suggestions also come at a time when there are concerns in various quarters about pricing ways in the healthcare space.
Limited costing mechanism for hospitals in the corporate sector needs to be expanded and there is a need to make costing principles mandatory for healthcare entities in the non-corporate sector also, institute's President Balwinder Singh told PTI.
According to him, the institute is seeking costing guidelines for the healthcare segment as well as expanding requirement of maintenance of cost records to various entities, including hospitals in the non-corporate sector.
"Since most hospitals are run by