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Background: Human resource investment to train Thai traditional medicine students is important and useful for budget allocation planning to be cost-effective.
Objective: This study aims to investigate the unit cost per student to train Thai traditional medicine students at the Faculty of Public Health and Allied Sciences at the Proboromrajchanok Institute.
Methodology: This study utilized a retrospective and prospective approach in which data were collected and calculated for the fiscal year of 2019. The College’s perspectives were presented in terms of unit cost using a step-down method for cost allocation. The data were collected from 462 students of the full baccalaureate 4-year programs and203 students from the co-produced programs which were 2 years. Labor costs, material costs, and capital costs were retrieved from two sources, namely government budgets and non-government budgets. The unit forms were used for data collection.
Results: The results show that the average total cost for training students on the Bachelor of Thai Traditional Medicine Program in Thai Traditional Medicine and Bachelor of Applied Thai Traditional Medicine Program with difference tracks between co-produced programs and the full 4-year program per student was similar at 16,936,063.94 per year. The percentage on labor costs, material costs, and capital costs were 66.88, 18.38, and 14.74, respectively. The average total direct cost was 9,557,773.26 Baht, whereas the average total indirect cost was 7,378,290.68 Baht. Moreover, the average unit cost per full-time equivalent student (FTES) and the average unit cost was 78,694.75 Baht/FTES and 137,327.04 Baht/person, respectively. In addition, a co-produced 2-year program presented higher unit cost per student than the full 4-year program.
Conclusion: The results of the unit cost study offer benefits to education management. It can become a part of decision-making information in order to improve effective resources allocation
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