Financial Management In Health Care – hcs577 (3 credits)
This course presents the concepts of financial accounting important to the understanding of the financial environment of the health care industry. Students interpret financial statements, prepare analyses of financial data necessary to make decisions, describe the different third party payment methods, experiment with cost finding and price setting, and conduct break-even analysis. The course provides students with experience in capital and operating budgets, and financial forecasts.
Describe health care financial structure and policies.
Distinguish between for-profit and not-for-profit financial environments.
Explain financial management practices and challenges.
Accounting Principles and Financial Planning in Health Care
Explain the key Generally Accepted Accounting Principles (GAAP) that apply to health care.
Analyze financial statements in the health care industry.
Develop a financial plan in health care.
Revenue Sources and Payment Methods
Describe payment systems, participants, and the effect of their roles.
Explain revenue trends that affect the health care industry.
Compare the budgeting process for capital, operational, and facility funding.
Develop a budget in health care.
Explain the value of financial management in health care.
Analyze the relationship between budget performance and corrective actions on health care.
Analyze the role of cost measurement in the operating budget, capital budget, and variance analysis.
Discuss solutions to current health care financial problems.
Evaluate global health care options that impact revenue.
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