HCM 4053

Description

Introduces key aspects of financial management for today's healthcare organizations, addressing diverse factors that impact the provision of medical services in our dynamic and competitive environment. Students will gain knowledge and skills in the various types of healthcare budgeting and financial reporting, applying these skills through practical case scenarios and problem-solving activities.

Objectives

  1. Explain the basic concepts of financial management in healthcare organizations.
  2. Explain the aspects of managing short-term and long-term assets and liabilities in healthcare organizations.
  3. Analyze agency relationships in health care and how organizations can ameliorate agency costs.
  4. Explain the similarities and differences among the major approaches to valuation of healthcare firms.
  5. Distinguish variable versus fixed, and direct versus indirect costs, for a healthcare service or process.
  6. Calculate net present value, internal rate of return, and profitability indexes given assumed cash flows and discount rates in healthcare operations.
  7. Compare and contrast the choices for external financing faced by healthcare organizations.
  8. Evaluate the basic principles of working capital management as rooted in controlling opportunity costs in healthcare firms.
  9. Discuss the financial approach to strategic healthcare planning and how managers can participate effectively in that process.
  10. Describe key impacts of the Patient Protection and Affordable Care Act on the financial management of U.S. healthcare organizations, providers, patients, payers, and employers.

PreRequisites

None

Textbook(s)

Fundamentals of health care financial management: A practical guide to fiscal issues and activities (Rev: 4th ed.)

Publisher: Jossey-Bass (01/31/2014)
Author: Berger, S.
ISBN: 978-1-118-80168-0
Price: (No information available)

* 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