HCM 6200: Healthcare Budgeting and Financial Management

Description

Healthcare administrators are often nonfinancial managers. The role of HCM 6200 is to provide the healthcare administrator an understanding of financial management to be successful in day-to-day activities and operations. Learners will become comfortable with basic financial management principles, including understanding financial statements and ratios, preparing an operating budget, and using financial analysis to help with decision-making.

Objectives

1. Describe elements of financial management that influence healthcare finance.
2. Analyze financial operations and understand the composition of resources.
3. Demonstrate understanding of financial reporting and performance measures.
4. Examine tools used to review and manage comparative data.
5. Prepare and evaluate budgets for a healthcare organization.
6. Evaluate tools used to plan, monitor, and control financial status.
7. Apply investment and business loan options utilized in health care.
8. Apply methodologies used in strategic planning of a healthcare facility.
9. Determine how to evaluate the importance of a decision and its impact in a healthcare environment.
10. Develop strategic, interpersonal, and collaborative (i.e., emotional intelligence) skills to work effectively with others toward a common goal.

PreRequisites

1. HCM 5100
2. HCM 5000

Textbook(s)

* 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