Course Description

This web-based course is to prepare healthcare professionals for the responsibilities in maintaining a well-managed healthcare department/healthcare organization. This course provides a detailed understanding of healthcare financial management for decision-making. The course blends accounting and finance concepts to enhance the healthcare professional’s decision-making skills. Topics covered include types of budgets; financial statements commonly used in healthcare environments; staffing; inventory and depreciation concepts; cost classifications; and trend analysis. The course will enhance the student's decision-making skills by utilizing case studies and practical applications to real-world situations.

Credits/Modes of Instruction

Credits:  3

Modes of Instruction:
Lecture presented as MS PowerPoint Presentations
Assignments/Projects (graded written assignments/project submission)
Individual and Group activities
Discussion forums
Textbook activities
Canvas Learning System – web-based instruction
Videos

Prerequisites

Financial Accounting (completed as prerequisite for admission to program).

Course Goals and Outcomes:

Goals

This course introduces the students to healthcare finance from the management perspective. The goal of this course to provide the student with basic understanding of the theory and principles of healthcare financing including both accounting and financial management as they apply to HIM.

Upon completion of this course, the student will be able to:
Demonstrate use of specific knowledge of economic and healthcare finance concepts, terminology, classifications, methods and trends;
Interpret financial statements and evaluate organizational performance;
Demonstrate understanding of the use of computer spreadsheets for financial analysis;
Demonstrate understanding of the concepts and analytical tools used for capital investment and financing decisions.
Demonstrate understanding of the importance of financial management for healthcare organizations in a rapidly changing healthcare delivery system.
Demonstrate written communication skills through preparation and presentation of case studies.
Discuss key topics in healthcare finance.
Demonstrate the ability to apply class discussion and theory to practical applications within the healthcare financial environment.
Demonstrate understanding of and apply specific knowledge of economic and healthcare finance concepts, terminology, classifications, methods and trends.
Demonstrate ability to utilize financial information for decision-making and evaluate organizational performance;
Apply acquired skills, competencies, values, and points of view needed for financial decision-making;
Discuss the concepts and analytical tools used for capital investment decisions.
Demonstrate an understanding of payment methods used to reimburse health service providers and the role of health insurance in financing health services.
Relate financial decision-making to pressures from the external environment;
Demonstrate an understanding of the function of the financial team and chief financial officer of health organizations;
Apply quantitative methods for decision-making.