HCM 4053

Description

This course introduces many financial management aspects in health care organizations by covering many considerations and factors affecting the financial aspects of providing health care in today’s dynamic and competitive environment. Students learn the different types of budgets and how they are utilized.

Objectives

  1. Explain the basic concepts of financial management in health care organizations.
  2. Explain and apply the methodology for practical application of financial management procedures in a health care setting.
  3. Present a detailed explanation of the financial market environment.
  4. Explain and illustrate what is necessary for managing short-term and long-term assets and liabilities of health care firms.
  5. Define and analyze the agency relationships in health care and how organizations can ameliorate agency costs.
  6. Explain and illustrate the similarities and differences among the major approaches to valuation for health care firms.
  7. Distinguish variable versus fixed and direct versus indirect costs for a health service or process.
  8. Calculate net present value, internal rate of return, and profitability indexes given assumed cash flows and discount rates in health care operations.
  9. Define and measure total and systematic project risks in health care processes.
  10. Compare and contrast the choices for external financing faced by health care organizations.
  11. Compare and contrast the relationship between the cost of capital for a not-for-profit healthcare provider and an equivalent taxable corporation.
  12. Discuss and evaluate the basic principles of working capital management as rooted in controlling opportunity costs in health care firms.
  13. Articulate an endowment's investment goals and constraints.
  14. Explain and discuss the financial approach to strategic health care planning and how to participate effectively in that process.

PreRequisites

None

Textbook(s)

None

* Disclaimer: Textbooks listed are based on the last open revision of the course. Prior revisions and future revisions may use different textbooks. To verify textbook information, view the course syllabus or contact Student Services at students@waldorf.edu