Institutional Costs Research Articles

I-125 eye-plaque seed economics: To re-use or to not re-use? A single institutional cost savings analysis of re-using I-125 radioactive seeds for eye—Plaque brachytherapy

INTRODUCTIONIodine-125 (I-125) seeds, commonly used in low-dose rate brachytherapy for ocular malignancies, are often discarded after a single use. This study examines the potential cost savings at an institution with high ocular melanoma referrals, by re-using I-125 seeds for eye-plaque brachytherapy. METHODSIn this single-institutional retrospective analysis, data was collected from I-125 seed orders from 8/2019 through 10/2022. Information including number of seeds ordered per lot, number of plaques built per lot, and number of seeds used per lot were collected. Cost per lot of seed was assumed to be the current cost from the most recent lot of 35 seeds. RESULTSDuring the study, 72 I-125 seed lots were ordered bi-weekly, with a median of 35 seeds per lot (Range: 15–35). Each seed was used on average 2.26 times prior to being discarded. The average duration of each seed lot used was 62.2 days (Range: 21–126). Each seed lot contributed to the construction of an average of 8.4 eye plaques (Range: 2–20). With seed recycling, 2,475 seeds were used to construct 608 eye-plaques. Without re-using practice this would require 5,694 seeds. This resulted in a percentage cost savings of 56.5%, with a total seed cost reduction of $344,884, or $559 per eye-plaque on average. CONCLUSIONThis is the first study to evaluate cost savings relative to re-using I-125 seeds for eye plaques. The data demonstrates how an institution can decrease costs associated with I-125 radiation seeds used for eye-plaque brachytherapy by re-using them.

Anticoagulation stewardship: Improving adherence to clinical guidelines and reducing overuse of venous thromboembolism prophylaxis in hospitalized medical patients

Adherence to guideline recommendations for venous thromboembolism prophylaxis (VTE) in hospitalized medical patients is suboptimal despite national policies and institutional interventions. The aim of this quality improvement project was to improve adherence to guidelines and decrease the overuse of VTE prophylaxis in order to reduce the institutional cost for heparins. A multidisciplinary anticoagulation stewardship program (ACSP) using the audit and feedback strategy was implemented on the medicine inpatient units at a teaching hospital in Canada. The primary outcome measure was a comparison, pre and post introduction of the ACSP, of the costs per 6-month period for prophylactic dose enoxaparin and unfractionated heparin on the medicine units. The balancing measures were the 90-day VTE rate and major bleeding rate during the hospitalization. Six months after the implementation of the ACSP, the cost was decreased by >50 % without any observed negative impact on patient safety. This study demonstrates the potential for anticoagulation stewardship programs to optimize the use of VTE prophylaxis and reduce the associated costs and risks.

International entrepreneurship: Insights from Laos, Cambodia, and Vietnam

The discipline of International Entrepreneurship (IE) conceptually rests upon the foundations of entrepreneurship and international business – with theory typically derived from larger corporations and mature markets. Through comparison between IE in emerging and mature contexts, and individual and corporate entrepreneurship, distinctive features of individual IE in emerging markets are identified. A series of case studies conducted in Laos, Cambodia, and Vietnam document how incremental innovation underpins IE; how foreignness helps IEs spot opportunities (unrecognized by locals); how simple bureaucracies (commonly found in emerging markets) invigorate IE; how startups in emerging environments embody assimilation (larger international corporations cannot match) – and how this assimilation (combined with being small and nimble) enables IEs to thrive within ambiguity and institutional voids. Most importantly, this study challenges the applicability of institutional and transaction cost theory to explain market entry modes of individual IEs in emerging markets. Contrary to conventional wisdom, institutional voids were not found to deter these IEs. Rather, these IEs’ primary concerns relate to pro-business dispositions among authorities, simple bureaucracies, and uncomplicated investment climates.

Costs of care trajectories of people with dementia compared with matched controls. Longitudinal analysis of linked health and administrative data.

To provide insight into the health and social care costs during the disease trajectory in persons with dementia and the impact of institutionalization and death on healthcare costs compared with matched persons without dementia. Electronic health record data from family physicians were linked with national administrative databases to estimate costs of primary care, medication, secondary care, mental care, home care and institutional care for people with dementia and matched persons from the year before the recorded dementia diagnosis until death or a maximum of 4years after the diagnosis. Total mean health and social care costs among persons with dementia increased substantially during the disease trajectory, mainly due to institutional care costs. For people who remained living in the community, mean health and social care costs are higher for people with dementia than for those without dementia, while for those who are admitted to a long-term care facility, mean health and social care costs are higher for people without dementia than for those with dementia. The steep rise in health and social care costs across the dementia care trajectory is mainly due to increasing costs for institutional care. For those remaining in the community, home care costs and hospital care costs were the main cost drivers. Future research should adopt a societal perspective to investigate the influence of including social costs.

International entrepreneurship: Insights from Laos, Cambodia, and Vietnam

The discipline of International Entrepreneurship (IE) conceptually rests upon the foundations of entrepreneurship and international business – with theory typically derived from larger corporations and mature markets. Through comparison between IE in emerging and mature contexts, and individual and corporate entrepreneurship, distinctive features of individual IE in emerging markets are identified. A series of case studies conducted in Laos, Cambodia, and Vietnam document how incremental innovation underpins IE; how foreignness helps IEs spot opportunities (unrecognized by locals); how simple bureaucracies (commonly found in emerging markets) invigorate IE; how startups in emerging environments embody assimilation (larger international corporations cannot match) – and how this assimilation (combined with being small and nimble) enables IEs to thrive within ambiguity and institutional voids. Most importantly, this study challenges the applicability of institutional and transaction cost theory to explain market entry modes of individual IEs in emerging markets. Contrary to conventional wisdom, institutional voids were not found to deter these IEs. Rather, these IEs’ primary concerns relate to pro-business dispositions among authorities, simple bureaucracies, and uncomplicated investment climates.

O104: The “At-Risk” Infrainguinal Bypass Graft: benefit of Duplex Ultrasound Surveillance and Institutional costs of failure

Abstract Introduction The “Achilles heel” of infrainguinal surgical revascularisation (IISR) is that of restenosis. Duplex Ultrasound Surveillance (DUS) is undertaken to identify restenosis to permit intervention to maintain graft patency. We report the impact of DUS on outcomes focusing on patient- and treatment-associated costs. Methods Consecutive patients undergoing IISR at our Institution were assessed (January 2017 - December 2020). Data on DUS (1-, 6- and 12-month scans) were collated. Primary outcomes were mortality and major limb amputations (MLA) at 2-years post IISR. Grafts were defined “at-risk” if radiological evidence of significant graft stenosis or occlusion, with or without symptoms, was identified. Post IISR graft-specific Institutional costs for all patients were quantified. Results 254 patients had IISR in the observed period (196 men, median age 70yrs). Of those, 194 (76%) entered DUS, and 109 (43%) completed it. In patients who completed DUS (vs incomplete vs none), mortality was 6.4%, (vs 26.5% vs 38% respectively; p <0.001) and MLA rates were 6.4% (vs 12% vs 30%, p=0.174 and p<0.001 respectively). Managing at-risk grafts led to additional 384 cross-sectional imaging requests, 284 outpatient reviews, 933 hospital admission days and 233 open and endovascular reinterventions with a total additional NHS cost of £ 1.348.518 in 2 years. Per-patient costs were £216 (per patient, per month) for the complete DUS group vs £348 in no DUS group. Conclusion The ongoing management of IISR is associated with significant costs. Enrolment in and completion of a DUS programme is associated with improved patient outcomes and a reduction in costs.

Open or robotic? Radical cystectomies for patients with non-metastatic bladder cancer: A systematic review and meta-analysis.

This systematic review and meta-analysis will review randomized control trials for localized bladder cancer, evaluating surgical and pathologic outcomes of ORC versus RARC. Randomized studies evaluating adults with non-metastatic bladder cancer who underwent a radical cystectomy. Randomized trials were selected for final review. Data was extracted and analyzed with Revman 5 software. The primary outcome was complication rates within 90 days. Secondary outcomes included postoperative quality of life, estimated intraoperative blood loss, and other perioperative outcomes. Continuous variables were reported using mean difference with 95% confidence intervals, and dichotomous variables were reported using risk difference with 95% confidence intervals with RARC as the experimental group and ORC as the reference group. Of 134 articles screened, six unique randomized studies were selected. For Grade I-II complications, the risk ratio (RR) was 0.92 (95% CI [0.79,1.08], p = 0.33), and for Grade III-V complications, RR 0.93 (95% CI [0.73,1.18], p = 0.59). RARC resulted in decreased blood loss (95% CI [-438.08, -158.44], p < 0.00001) and longer operative time (95% CI [55.23, 133.13], p < 0.00001). Quality of life using the EORTC-QLQ-30 global health score at 3 months post-op appeared to favor RARC with a mean difference of 4.46 points (95% CI [1.78, 7.15], p = 0.001). Pathologic outcomes neither statistically nor clinically favored one modality, as there was no significant difference between mean lymph node yield (p = 0.49), positive lymph nodes (p = 1.00), and positive surgical margins (p = 0.85) between the surgical modalities. Although one surgical modality is not overtly superior, the choice may be decided by mitigating individual operative risk factors like intraoperative blood loss, operative time, post-operative quality of life, as well as institutional costs and learning curve among surgeons.

Health Care Cost Reductions with Machine Learning-Directed Evaluations during Radiation Therapy - An Economic Analysis of a Randomized Controlled Study.

Machine learning (ML) may cost-effectively direct health care by identifying patients most likely to benefit from preventative interventions to avoid negative and expensive outcomes. System for High-Intensity Evaluation During Radiation Therapy (SHIELD-RT; NCT04277650) was a single-institution, randomized controlled study in which electronic health record-based ML accurately identified patients at high risk for acute care (emergency visit or hospitalization) during radiotherapy (RT) and targeted them for supplemental clinical evaluations. This ML-directed intervention resulted in decreased acute care utilization. Given the limited prospective data showing the ability of ML to direct interventions cost-efficiently, an economic analysis was performed. A post hoc economic analysis was conducted of SHIELD-RT that included RT courses from January 7, 2019, to June 30, 2019. ML-identified high-risk courses (≥10% risk of acute care during RT) were randomized to receive standard of care weekly clinical evaluations with ad hoc supplemental evaluations per clinician discretion versus mandatory twice-weekly evaluations. The primary outcome was difference in mean total medical costs during and 15 days after RT. Acute care costs were obtained via institutional cost accounting. Physician and intervention costs were estimated via Medicare and Medicaid data. Negative binomial regression was used to estimate cost outcomes after adjustment for patient and disease factors. A total of 311 high-risk RT courses among 305 patients were randomized to the standard (n=157) or the intervention (n=154) group. Unadjusted mean intervention group supplemental visit costs were $155 per course (95% confidence interval, $142 to $168). The intervention group had fewer acute care visits per course (standard, 0.47; intervention, 0.31; P=0.04). Total mean adjusted costs were $3110 per course for the standard group and $1494 for the intervention group (difference in means, $1616 [95% confidence interval, $1450 to $1783]; P=0.03). In this economic analysis of a randomized controlled, health care ML study, mandatory supplemental evaluations for ML-identified high-risk patients were associated with both reduced total medical costs and improved clinical outcomes. Further study is needed to determine whether economic results are generalizable. (Funded in part by The Duke Endowment, The Conquer Cancer Foundation, the Duke Department of Radiation Oncology, and the National Cancer Institute of the National Institutes of Health [R01CA277782]; ClinicalTrials.gov number, NCT04277650.).

Economic issues of treating patients with stage 5D chronic kidney disease by dialysis methods of renal replacement therapy in Ukraine: a single-center study

Background. The aim of the work was to determine the cost of treating patients with stage 5D chronic kidney disease (CKD) by dialysis methods of renal replacement therapy (RRT) in 2023 based on the analysis of the costs of using hemodialysis (HD) and peritoneal dialysis (PD) in one medical institution. Materials and methods. An open single-center study was conducted at the Кyiv City Center of Nephrology and Dialysis. During 2023, 779 patients with stage 5D chronic kidney disease received renal replacement therapy by dialysis methods in this institution. Among them, 718 participants were treated by hemodialysis and 61 patients by peritoneal dialysis (36 by continuous ambulatory peritoneal dialysis (CAPD) and 25 by automated peritoneal dialysis (APD)). Direct medical and non-medical costs were included in the calculation of the cost of treating chronic kidney disease patients using both dialysis methods. The estimate of the cost of treatment for one patient during the year was calculated according to the formula: when using hemodialysis/hemodiafiltration (HDF) method — the cost of 1 session × 156 sessions, in case of CAPD/APD — the cost of 1 treatment day × 365 days. Results. The analysis of the costs for the treatment of patients with stage 5D CKD allowed us to state that the average cost of one HD/HDF session in 2023 was 3,626.20 UAH, one day of CAPD and APD treatment was 1,539.78 and 1,829.12 UAH, respectively. The average cost of treatment of one patient by HD/HDF method during 2023 was 565,687.20 UAH, CAPD — 562,019.70 UAH, APD — 667,628.80 UAH. In the structure of the cost of treatment, regardless of the modality of RRT, the most expensive component is the cost of consumables. State reimbursement under the Program of Medical Guarantees in 2023 for the treatment of one patient with stage 5D CKD during the year was 385,788 UAH when using GD/GDF, 412,085 UAH for CAPD, 662,110 UAH for APD. That is, based on the data we received, the Program of Medical Guarantees covers only 68.2 % of the costs of medical institution for the treatment with HD/HDF, 73.3 % for the treatment with CAPD and almost 100 % for the treatment with APD. Conclusions. The real cost of treating patients with stage 5D CKD using dialysis methods of RRT is higher than the rate of state reimbursement. The Program of Medical Guarantees doesn’t fully cover the costs of medical institutions for the treatment of patients with stage 5D CKD using RRT methods. CAPD has indisputable advantages in terms of both medical and economic benefit. In addition, the advantage of using CAPD over other dialysis modalities during the war is the absence of dependence on water and electricity supply, the number and workload of medical personnel, the need for patients to constantly visit the dialysis center.

Direct healthcare costs of oral cancer: A retrospective study from a tertiary care center

The aim of this study was to retrospectively evaluate the direct costs of OSCC treatment and postsurgical surveillance in a tertiary hospital in northeast Italy.Sixty-three consecutive patients surgically treated for primitive OSCC at S. Orsola Hospital in Bologna (Italy) between January 2018 and January 2020 were analyzed. Billing records of the Emilia Romagna healthcare system and institutional costs were used to derive specific costs for the following clinical categories: operating theatre costs, intensive and ordinary hospitalization, radiotherapy, chemotherapy, postsurgical complications, visits, and examinations during the follow-up period. The study population comprised 17 OSCC patients classified at stage I, 14 at stage II, eight at stage III, and 24 at stage IV.The estimated mean total direct cost for OSCC treatment and postsurgical surveillance was €26 338.48 per patient (stage I: €10 733, stage II: €19 642.9, stage III: €30 361.4, stage IV: €39 957.2). An advanced diagnosis (stages III and IV), complex surgical procedure, and loco-regional recurrences resulted in variables that were significantly associated with a higher cost of OSCC treatment and postsurgical surveillance.Redirection of funds used for OSCC treatment to screening measures may be an effective strategy to improve overall health outcomes and optimize national health resources.

The Economic Burden of the COVID-19 Pandemic in State of Kuwait.

The main aim of this study is to estimate the provider's cost, patients' cost (home and institutional quarantine cost) and the total economic burden of COVID-19 for patients with PCR positive in Kuwait. This cross-sectional and retrospective study identified the cost incurred for treating COVID-19 inpatients admitted to a General Hospital in Kuwait, a designated COVID-19 treatment center by the Kuwait Government during pandemic. A total of 485 COVID-19 patients were randomly selected from May 1st to September 31st, 2021. Data on sociodemographic information, length of stay (LOS), discharge status, and comorbidities were obtained from the patients' medical records. A step-down approach was done to estimate the healthcare provider cost per patient per admission. Patient cost (loss of productivity due to hospitalization, institutional and home quarantine) was calculated using human capital approach. The national economic burden of COVID-19 was estimated using costing data from a general hospital for the entire nation. The data were analyzed using the statistical software package SPSS version 25. In all, 485 COVID-19 patients were involved in the research. KD 2216 (USD 7,344) was the average cost per patient per admission. The ICU accounted for 20.6% of the total cost, the physician and nursing staff for 42.1%, and the laboratory services for 10.2%. The estimated annual cost of care for COVID-19 patients in Kuwait was KD 147.4 (USD 488.5) million, or 5.5% of the MOH budget for 2021, given that 9.03% (383,731) of the population had positive COVID-19 PCR results in 2021. The range of the estimated national economic burden, considering both the best and worst-case scenarios, is KD 73.6 (USD 244.2) million to KD 221.0 (USD 732.7) million. COVID-19 poses a substantial financial strain on the healthcare system, estimated at 5.9% to 8.8% of the MOH's annual budget and 0.2% to 0.7% of Kuwait's GDP in 2021. To mitigate costs, prioritizing prevention and health education is crucial. Targeted strategies, such as workforce optimization, are needed to address high expenses. Policymakers and administrators should leverage these insights for enhanced efficiency and sustainability in future epidemic responses.

The gains from changes in internal trade costs: A quantitative analysis of China

AbstractWe study how internal trade costs affect the Chinese economy. Combining regional and industry data with a multiregional multisector general equilibrium model, we quantify the magnitude of total trade costs and institutional trade costs, and the impact of their changes on aggregate, regional, and sectoral total factor productivity, gross domestic product, and welfare. Using unique data, we estimate the sectoral trade elasticity of internal trade in 16 tradable sectors. We use our calibrated model to perform a variety of counterfactual exercises. We find that the welfare gains are negative for a 5% reduction in total trade costs and for the elimination of institutional trade costs, which can be attributed to inherent inefficiencies in the economy. However, as total trade costs decrease further, the positive welfare effect significantly exceeds the impact of inefficiency. The regional and sectoral effects of changes in trade costs show that the spatial structure of the economy, input‐output linkages, and local factors together determine the heterogeneity of sectoral and regional consequences. Finally, we infer the relative changes in China's internal trade costs from 2012 to 2017, and calculate their economic effects.

Assets of foreignness in a regulated industry

Purpose Foreign subsidiaries incur substantial institutional conformity costs because they have to respond to host-country institutional pressures (Slangen &amp; Hennart, 2008). The purpose of this paper is to study this type of cost from institutional and regulatory perspectives. The authors argue that these costs decrease when the host country adopts concepts of international regulations that multinationals may be familiar with due to their own home country regulation experience. This prior regulatory experience gives foreign subsidiaries an advantage of foreignness (AoF), which can offset their liability of foreignness (LoF). Design/methodology/approach This study compared the returns on assets of 35 domestic firms with those of foreign subsidiaries in the Brazilian energy industry between 2002 and 2021, using regression dynamic panel data. Findings The existence of a relationship between the international regulatory norm and the Brazilian regulator has transformed the LoF into an advantage of foreignness to compete with local energy firms. The results also suggest that the better the regulatory quality of the subsidiary’s country of origin, the better its performance in Brazil, as it can reduce compliance costs. Finally, the greater the psychic distance between Brazil and the foreign subsidiary’s home country, the worse its performance. Research limitations/implications The research suggests that one of the keys to competitiveness in host countries is local regulatory ties. Prior international regulatory experience gives foreign subsidiaries an asset of foreignness (AoF). This result complements the current institutional and regulatory foreignness studies on emerging economies (Cuervo-Cazurra &amp; Genc, 2008; Mallon et al., 2022) and the institutional asymmetry between home and host country (Mallon &amp; Fainshmidt, 2017). Practical implications This research suggests that one of the keys to competitiveness in host countries is local regulatory ties. Prior international regulatory experience gives foreign subsidiaries an asset of foreignness (AoF). This result complements the current institutional and regulatory foreignness studies on emerging economies (Cuervo-Cazurra &amp; Genc, 2008; Mallon et al., 2022) and the institutional asymmetry between home and host country (Mallon &amp; Fainshmidt, 2017). The practical implication is that the relationship between conformity costs, capital budget calculation and strategic planning for internationalization will be related to the governance quality of the home country of multinationals. The social implication is that a country interested in attracting more direct foreign investment to areas that need foreign technology transfer and resources may consider adopting international regulatory standards. Social implications The social implication is that a country interested in attracting more direct foreign investment to areas that need foreign technology transfer and resources may consider adopting international regulatory standards. Originality/value This research discuss firm and local regulator tie is one of core competitiveness in host countries (Yang and Meyer, 2020). This study also complements the current institutional and regulatory foreignness studies in emerging economy (Cuervo-Cazurra &amp; Genc, 2008; Mallon et al., 2022). Second, prior regulatory experience of multinational enterprise in similar environment can affect its foreign affiliate performance (Perkins, 2014). Third, this study confirms current literature that argues that knowledge and ability to operate in an institutionalized country can be transferred from parent to affiliate. In the end, this study investigates whether AoF persists when host governments improve the governance of their industries.

Oritavancin as sequential therapy for Gram-positive bloodstream infections

BackgroundOritavancin, a long-acting lipoglycopeptide approved for use in acute bacterial skin and skin structure infections, has limited data evaluating use in serious infections due to Gram-positive organisms. We aimed to assess the effectiveness and safety of oritavancin for consolidative treatment of Gram-positive bloodstream infections (BSI), including infective endocarditis (IE).MethodsWe conducted a retrospective cohort study evaluating adult patients admitted to University of Colorado Hospital from March 2016 to January 2022 who received ≥ 1 oritavancin dose for treatment of Gram-positive BSI. Patients were excluded if the index culture was drawn at an outside facility or were > 89 years of age. The primary outcome was a 90-day composite failure (clinical or microbiological failure) in those with 90-day follow-up. Secondary outcomes included individual components of the primary outcome, acute kidney injury (AKI), infusion-related reactions (IRR), and institutional cost avoidance.ResultsOverall, 72 patients were included. Mean ± SD age was 54 ± 16 years, 61% were male, and 10% had IE. Organisms most commonly causing BSI were Staphylococcus aureus (68%, 17% methicillin-resistant), followed by Streptococcus spp. (26%), and Enterococcus spp. (10%). Patients received standard-of-care antibiotics before oritavancin for a median (IQR) of 11 (5–17) days. Composite failure in the clinically evaluable population (n = 64) at 90-days occurred in 14% and was composed of clinical and microbiological failure, which occurred in 14% and 5% of patients, respectively. Three patients (4%) experienced AKI after oritavancin, and two (3%) experienced an IRR. Oritavancin utilization resulted in earlier discharge for 94% of patients corresponding to an institutional cost-avoidance of $3,055,804 (mean $44,938/patient) from 1,102 hospital days saved (mean 16 days/patient).ConclusionsThe use of oritavancin may be an effective sequential therapy for Gram-positive BSI to facilitate early discharge resulting in institutional cost avoidance.

Relationships among cost, citation, and access in journal publishing by an ecology and evolutionary biology department at a U.S. university.

Optimizing access to high-quality scientific journals has become an important priority for academic departments, including the ability to read the scientific literature and the ability to afford to publish papers in those journals. In this contribution, we assess the question of whether institutional investment in scientific journals aligns with the journals where researchers send their papers for publication, and where they serve as unpaid reviewers and editors. We assembled a unique suite of information about the publishing habits of our Department of Ecology and Evolutionary Biology, including summaries of 3,540 journal publications by 35 faculty members. These data include economic costs of journals to institutions and to authors, benefits to authors in terms of journal prestige and citation rates, and considerations of ease of reading access for individuals both inside and outside the university. This dataset included data on institutional costs, including subscription pricing (rarely visible to scholars), and "investment" by scholars in supporting journals, such as time spent as editors and reviewers. Our results highlighted the complex set of relationships between these factors, and showed that institutional costs often do not match well with payoffs in terms of benefits to researchers (e.g., citation rate, prestige of journal, ease of access). Overall, we advocate for greater cost-benefit transparency to help compare different journals and different journal business models; such transparency would help both researchers and their institutions in investing wisely the limited resources available to academics.

ВИТРАТИ І ВИДАТКИ: СУТНІСТЬ, ОСОБЛИВОСТІ ОБЛІКУ ТА АНАЛІЗУ

State financing requires control over the availability and movement of budget funds, the implementation of estimates, therefore it can be argued that the most important objects of accounting and analysis of the activities of budget institutions are costs and expenses. The article presents a theoretical generalization and solution of the scientific task, which consists in the study of the economic essence, features of accounting and analysis of costs and expenses in budgetary institutions. It was determined that the demarcation of the essence of the researched concepts is based on the change in the forms of resource use in the process of functioning of the budget institution. Peculiarities of regulatory and legal regulation of cost and expenditure accounting are considered. It is emphasized that the term "costs" is disclosed in national and international accounting standards and other legal documents, and "expenses" – in regulatory documents regulating the budget process; expense accounting is conducted using the accrual method, and budget expenditures – using the cash method. It is indicated on which accounts and in which registers of analytical accounting the costs and expenses of budgetary institutions are recorded. The directions of classification of expenses and costs of budgetary institutions are revealed, taking into account the current budget classification (functional, departmental, economic, programmatic). It is emphasized that the purpose of controlling costs and expenses is to establish their legality, reliability and expediency and the correctness of displaying relevant economic transactions in accounting, and the main purpose of their analysis is to find reserves for reducing the costs of budget institutions. Methods of economic analysis of costs and expenses of budget institutions are disclosed and characteristics are presented, which allow to identify reserves for increasing the efficiency of the use of labor, material and non-material resources, as well as budget funds used by budget institutions.

AI-based model for fraud detection in bank systems

Due to the very high direct or indirect costs of fraud, banks and financial institutions seek to accelerate the recognition of the activities of fraudsters. The reason for this is its direct effect on serving the customers of these institutions, reducing operating costs and remaining as a reliable and valid financial service provider. On the other hand, in recent years, with the development of information and communication technology, electronic banking has become very popular. In the meantime, it is inevitable to use fraud detection techniques to prevent fraudulent actions in banking systems, especially electronic banking systems. In this paper, a method has been developed that leads to the improvement of fraud detection in information security and cyber defense systems. The main purpose of fraud detection systems is to predict and detect false financial transactions and improve the intrusion detection system using information classification. In this regard, the genetic algorithm, which is known as one of the stochastic optimization methods, is used. At the end, the results of the genetic algorithm have been compared with the results of the decision tree classification and the regression tree. The simulation results show the effectiveness and superiority of the proposed method.

Can Housing Booms Elevate Financing Costs of Financial Institutions?

Can Housing Booms Elevate Financing Costs of Financial Institutions?

ЗРОСТАННЯ РОЛІ РЕГТЕХ ЯК СКЛАДОВОЇ БІЗНЕС МОДЕЛІ ФІНАНСОВОЇ УСТАНОВИ У ПЕРІОД ЦИФРОВИХ ТРАНСФОРМАЦІЙ

The article analyzes the reasons for the emergence of Regtech, in particular, the complexity and variability of legislation, the growth of regulatory costs of both financial institutions and regulators, the need for new technologies that would optimize operations to comply with regulatory requirements. Objectives, tools and main characteristics of RegTech analyzed. The division of RegTech technological processes into customer onboarding, constant monitoring, risk identification, and comprehensive reporting is defined. The key features of RegTech are analyzed, namely blockchain, data standardization, high costs, high compliance risks, risk management, importance. RegTech has the potential for a wide range of applications from financial regulation to monitoring corporations for compliance with environmental legislation. Therefore, RegTech gradually outgrows the boundaries of the FinTech sector and becomes a relatively independent direction.The driving forces of the "explosive" growth of the RegTech market are identified, which include the aggravation of the need for post-crisis regulatory changes and the increase in data flows from controlled organizations; growing complexity of regulatory requirements; minimization of growing costs for ensuring compliance with regulatory requirements and standards; technological progress and rapid implementation of advanced technologies; real-time transaction monitoring, threat analysis and secure identity verification; increasing the effectiveness of supervisory tools in order to support financial stability. Innovative trends in the development of RegTech are analyzed, which include the focus on natural language processing, the development of AML and the metauniverse, the spread of cryptocurrencies, distributed ledger technology, voice recognition technology, and geographic information systems. The growing emphasis on business efficiency is increasing the popularity of RegTech among financial institutions, which allows them to increase productivity by reducing regulatory costs, protecting digital data and meeting regulatory requirements.

ЦИФРОВИЗАЦИЯ ТОРГОВОГО ФИНАНСИРОВАНИЯ

Trade finance plays an important role in achieving the Sustainable Development Goals set out in the UN program for the period 2015–2030 and aimed at solving the following tasks: stimulating sustainable economic growth, productive employment and job creation, strengthening and reviving international cooperation, etc. Cross-border trade finance is based on the general principles and documents developed by the Wolfsberg Group, the International Chamber of Commerce and the International Association of Banks for Finance and Trade, which became the sources of information for the article. Its purpose is to assess the current state of trade finance, identify trends in its digital transformation and justify the advantages and limitations of using smart contracts in the field. Currently, efforts to digitalize trade finance are fragmented due to the scale and complexity of the issue. At the same time, by using innovative digital technologies, it is possible to achieve a significant reduction in the transaction costs of financial institutions, and thereby increase the availability of trade finance for applicant companies. Authors substantiate the advantages of using digital technologies for the development of the trade finance market, describe the stages of using smart contracts for those purposes and indicate the current limitations of digital trade finance solutions.