read Chapters 4, 5, 6, 7, and 8 in your course textbook and the Hospitals Become Cost Centers in Managed Care Scenario (Links to an external site.) article. Just like any industry, healthcare has its own language. Healthcare managers must be able to classify various costs associated with day-to-day operations. For this discussion, you will incorporate the course textbook readings to discuss the assigned costs listed below.
In your initial response, explain the cost assigned to you and give an example of that type of cost as it relates to a healthcare facility (i.e., physician practice, hospital, long-term care facility, urgent care, specialty group practice, or surgery center). Include in your response why it is important for the healthcare manager to know the differences between all the costs listed when determining financial status.