The impact of digitization of the cost accounting system on organizational efficiency and effectiveness in the healthcare sector of the Republic of Serbia

Kristina Spasić; Bojana Novićević Čečević; Ljilja Antić

doi:10.5937/bizinfo2402039S

Authors

Kristina Spasić Academy of Professional Studies South Serbia, Leskovac, Serbia
Bojana Novićević Čečević University of Niš, Faculty of Economics, Serbia
Ljilja Antić University of Niš, Faculty of Economics, Serbia

DOI:

https://doi.org/10.5937/bizinfo2402039S

Keywords:

accounting, digitization, Strategy, healthcare, statistical analysis

Abstract

The new industrial era has brought new opportunities and chances for the entire business development. Smart machines, artificial intelligence, cloud computing, the Internet of Things, big data are taking over many jobs and roles, thus leaving room for the development of new skills and abilities. The rapid technological development in terms of automation and digitization has made machines replace human work. In this sense, it is a matter of time when technology will replace traditional accountants. (Management) accountants who want to adapt and survive in the digital world have to improve their offer and change the focus from data calculation to interpretation of results and business management. Thus, by applying new digital information technology tools, management accounting can provide quality information for determining the costs of products and services, performance measurement, planning and control, strategic and operational decision-making and the like. The general objective of this paper is to review the potential impact of digital information technologies on the usefulness of cost accounting systems and organizational performance in healthcare institutions in the Republic of Serbia with the help of statistical analysis of the relationship between the selected variables. The results of the analysis show that digital technologies have a great impact on the usefulness of the cost accounting system. Also, the largest number of respondents pointed out that improved IT systems have a positive effect on increasing organizational performance.

Downloads

Download data is not yet available.

References

Alshamlan, H. M., & Zverovich, S. (2018). The Costing Systems in Saudi Arabian Hospitals: Do They Need to Be Modified?. International Journal of Accounting and Financial Reporting, 8(1), 359-379. https://doi.org/10.5296/ijafr.v8i1.12774

Appelbaum, D., Kogan, A., Vasarhelyi, M., & Yan, Z. (2017). Impact of business analytics and enterprise systems on managerial accounting. International Journal of Accounting Information Systems, 25, 29–44. https://doi.org/10.1016/j.accinf.2017.03.003

Betto, F., Sardi, A., Garengo, P., & Sorano, E. (2022). The Evolution of Balanced Scorecard in Healthcare: A Systematic Review of Its Design, Implementation, Use, and Review. Int. J. Environ. Res. Public Health 2022, 19, 10291. https://doi.org/10.3390/ijerph191610291

Bohm, V., Lacaille, D., Spencer, N., & Barber, C.E.H. (2021). Scoping Review of Balanced Scorecards for Use in Healthcare Settings: Development and Implementation. BMJ Open Qual. 2021, 10, e001293. https://doi.org/10.1136/bmjoq-2020-001293

Bouquin H. (2004). Le contrôle de gestion. (6čme édition) Paris: PUF.

Cao, G., Duan, Y., & Li, G. (2015). Linking business analytics to decision making effectiveness: A path model analysis. IEEE Transactions on Engineering Management, 62(3), 384-395. https://doi.org/10.1109/TEM.2015.2441875

Cozzoli, N., Salvatore, F.P., Faccilongo, N., & Milone, M. (2022). How can big data analytics be used for healthcare organization management? Literary framework and future research from a systematic review. BMC Health Serv. Res, 22, 809. https://doi.org/10.1186/s12913-022-08167-z

Cvetković, D., Dimitrijević, Lj., & Đorđević, D. (2024) Importance of forensic accounting in the process of making decisions by the top management. BizInfo (Blace), 15(1), 99-106. https://doi.org/10.5937/bizinfo2302001S

Ittner, C. D., & Larcker, D. F. (2001). Assessing empirical research in managerial accounting: a value-based management perspective. Journal Accounting and Economics, 32(1), 349–410. https://doi.org/10.1016/S0165-4101(01)00026-X

Dengiz, O. (2017). Endüstri 4.0: Üretimde kavram ve algı devrimi. Makina tasarım ve imalat dergisi, 15(1), 38-45.

DeVellis, R. F. (2003). Scale development: Theory and application (2nd Ed.). Thousand Oaks, CA: Sage.

Frana, P. L., & Klein, M. J. (2021). Encyclopedia of Artificial Intelligence: The Past,Present, and Future of AI. ABC-CLIO.

Vlada Republike Srbije. (2023). Digitalizacija u finansiranju zdravstvene zaštite donosi velike uštede. https://www.srbija.gov.rs/vest/680700

Jamil, F., Ahmad, S., Iqbal, N. & Kim, D.-H. (2020). Towards a remote monitoring of patient vital signs based on IoT-based blockchain integrity management platforms in smart hospitals, Sensors, 20(8), 2195. https://doi.org/10.3390/s20082195

Knežević, S., Arsić Bogojević, V., & Milojević S. (2023). Uticaj razvoja veštačke inteligencije na računovodstvo. Zbornik radova sa naučnog skupa pod nazivom „Računovodstvo i revizija u teoriji i praksi“ (pp. 9-18). Banja Luka College, https://doi.org/10.7251/ZRRRTP2301009K

Knežević, S., Obradović, T., Mitrović, A., & Milašinović, M. (2021). Računovodstveni informacioni sistemi u digitalnom okruženju. Zbornik radova: Industrija 4.0 – mogućnosti, izazovi i rešenja za digitalnu transformaciju privrede (pp. 390-398). Beograd: Fakultet organizacionih nauka.

Manasijević, D. (2011). Statistička analiza u SPSS program. Bor: Tehnički fakultet.

Nikolić, D., & Spasić, K. (2023). The regulatory framework as a key for the improvement of e-invoicing system in the Republic of Serbia. 13th International Scientific Conference Science and Higher Education in Function of Sustainable Development – SED 2023 (pp. (3-132)-(3-139)), Vrnjačka Banja.

Ministarstvo zdravlja Republike Srbije. (2022). Program digitalizacije u zdravstvenom sistemu Republike Srbije 2022-2026. godine. https://www.zdravlje.gov.rs/tekst/364590/program-digitalizacije-u-zdravstvenom-sistemu.php

Oncioiu, I., Bîlcan, F. R., Stoica, D. A., & Stanciu, A. (2019). Digital transformation of managerial accounting trends in the new economic environment. EIRP Proceedings, 14(1), 266-274.

Onyshchenko, O., Shevchuk, K., Shara, Y., Koval, N., Demchuk, D. (2022). Industry 4.0 and accounting: directions, challenges, opportunities. Independent journal of management & production, 13(3), 161-195. https://doi.org/10.14807/ijmp.v13i3.1993

Pallant, J. (2011). SPSS – Priručnik za preživljavanje. (4th edn.) Beograd: Mikro knjiga.

Pandya, D., & Kumar, G. (2022). Holistic Hospital Operations Management with Industry 4.0 Technologies, Proceedings of the International Conference on Industrial Engineering and Operations Management Istanbul (pp. 1174-1182), Turkey, March 7-10.

Petrova P. (2018). Индустрия 4.0 и счетоводството: предизвикателства и възможности, Научни трудове на УНСС, No. 3, 135-144.

Piosik, A. (2022). The intensity of the use of management accounting systems under Industry 4.0 conditions. Confirmation from Poland. Procedia Computer Science 207, 1598–1610. https://doi.org/10.1016/j.procs.2022.09.217

Official Gazette of the RS, No. 53/2017. http://www.pravno-informacioni-sistem.rs/SlGlasnikPortal/eli/rep/sgrs/vlada/strategija/2021/86/1/reg

Official Gazette of the RS, No. 61/18. http://www.pravno-informacioni-sistem.rs/SlGlasnikPortal/eli/rep/sgrs/vlada/strategija/2018/61/1/reg

Official Gazette of the RS, No. 33/2023. https://www.pravno-informacioni-sistem.rs/SlGlasnikPortal/eli/rep/sgrs/vlada/drugiakt/2023/33/1

Sitarević, A., Rikalović, A., Andrijević, I., Radovanović, Z., & Simeunović, N. (2022). Zdravstvo 4.0: Nova paradigma zdravstvenog sistema, XXVIII Skup Trendovi razvoja: “Univerzitetsko obrazovanje za Privredu” (pp. 169-171), Kopaonik, 14 - 17. 02. 2022.

Varzaru, A. (2022). Assessing Digital Transformation of Cost Accounting Tools in Healthcare. International Journal of Environmental Research and Public Health, 19(23), 2. https://doi.org/10.3390/ijerph192315572.

Zlatanović, D., Nikolić, J., Stanojević, M., & Jevtić, V. (2022). Challenges and barriers of new public management: empirical evidence from Serbia. BizInfo (Blace), 13 (1), 33-40. https://doi.org/10.5937/bizinfo2201033Z