Processes of budget preparation, analysis, and monitoring are essential for analyzing the financial performance of an organization, service, or system. Concepts of financial accounting and reporting, as well as basic economic principles, are applied. Students use budgetary and economic concepts and principles for financial decision-making for a health care service or unit.
Define generally accepted accounting principles as related to health care organizations.
Explain the relationship between financial information and decision making for health care organizations.
Describe the financial and economic environment of health care organizations.
Assess financial performance of a health care organization.
Explain the valuation process of assets, depreciation, and inventory.
Perform a ratio analysis.
Financial Management Methods
Describe methods of assessing service line productivity.
Create a budget forecast for a health care service line.
Explain the capital project process.
Determine strategies for control of budgets.
Perform a cost variance analysis.
Analyze benchmarking techniques.
Compliance and Risk Management
Explain management roles and responsibilities in compliance and risk management.
Analyze financial risk factors in health service and education organizations.
Analyze risk avoidance and reduction strategies.
Future Trends and Issues
Describe trends in health care payer systems.
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