This course is designed as an introduction to the terminology, processes, functions, and financial reports commonly encountered in health care operations. This course introduces the concepts of basic managerial financial functions, such as budgeting, reimbursement methods, and the responsibilities of health care financial management.
Identify capital budget expenditures as they relate to technology.
Explain the importance of implementing technology in health care.
Identify costs and incentives of technology.
Financial and Operating Ratios
Calculate operating ratios.
Define liquid, solvency, and profitability ratio.
Analysis of Financial Statements
Describe the importance and use of budgeting.
Explain the uses and limitations of financial statements.
Identify the basic concept of cash flows.
Describe the components of financial statements.
Time Value of Money
Calculate financial ratios.
Identify the use of comparative data.
Define time value of money.
Inventory and Depreciation Concepts
Define methods of computing book depreciation.
Differentiate between LIFO and FIFO inventory methods.
Discuss the interrelationship between inventory and cost of goods sold.
Management’s Responsibility for Staffing
Explain how costs are tied to staffing.
Calculate full-time equivalent (FTE) to annualize staff positions.
Describe the difference between productive and nonproductive time.
Describe classification of costs.
Differentiate between fixed, variable, and semi-variable costs.
Describe the difference between direct and indirect costs.
Recognizing and Recording Financial Operations
Compute contractual allowances.
Classify balance sheet and income statement Items.
Identify sources of health care revenue.
Introduction to Health Care Finance
Identify organizational financial reports.
Compare the two types of accounting.
Define basic finance concepts.
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Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.