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.
Create a budget forecast for a health care service line.
Describe methods of assessing service line productivity.
Perform a ratio analysis.
Explain the valuation process of assets, depreciation, and inventory.
Assess financial performance of a health care organization.
Financial, Accounting, and Economic Principles
Describe the financial and economic environment of health care organizations.
Explain the relationship between financial information and decision making for health care organizations.
Define generally accepted accounting principles as related to health care organizations.
Future Trends and Issues
Describe trends in health care payer systems.
Compliance and Risk Management
Analyze risk avoidance and reduction strategies.
Analyze financial risk factors in health service and education organizations.
Explain management roles and responsibilities in compliance and risk management.
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