HCM 4053

Description

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

PreRequisites

None

Textbook(s)

Fundamentals of health care financial management (Rev: 3)

Publisher: Jossey-Bass (2008)
Author: Steven Berger
ISBN: 978-0-7879-9750-2
Price: $75.60

* 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