ICMAI Releases Exposure Draft on Cost Management in Healthcare Services
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- By Chetan Kulasri
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- Last Updated on 7 March, 2025
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The Institute of Cost Accountants of India (ICMAI), through its Cost Accounting Standards Board (CASB), has released an exposure draft of the Technical Guide on Cost Management in Healthcare Services. Approved on January 29, 2025, the draft aims to provide guidelines for improving cost management in healthcare, enhancing service quality and affordability. It covers key areas such as industry trends, competitive strategies, costing approaches, revenue and expenditure streams, cost allocation, and regulatory frameworks. The guide also highlights the role of CMAs in healthcare and future cost management directions. Targeted at healthcare administrators, financial managers, and policymakers, it seeks to help optimize costs while maintaining quality patient care. ICMAI has invited public comments on the draft until March 19, 2025, to incorporate diverse perspectives before finalization.
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