Describe the method of costing to be applied in case of nursing home?

Question: Describe the method of costing to be applied in case of nursing home? 

One possible method of costing to be applied in case of nursing home is the activity-based costing (ABC) method. This method assigns costs to each activity or process that contributes to the delivery of care, such as admission, diagnosis, treatment, discharge, etc. The ABC method can help to identify the cost drivers and the cost behavior of each activity, and to allocate the overhead costs more accurately and equitably. The ABC method can also provide useful information for decision making, performance evaluation, and quality improvement in nursing home management.

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