This course offers an overview of healthcare financial management to build competencies in business and analytical principles, and learn how to keep healthcare organizations financially viable. Basic financial accounting concepts will provide an organization-level understanding of the language, concepts, processes, and key functions of financial management. Managerial accounting principles also will be a focus of the course and include cost accounting, budgeting at the department level, and an understanding of the key role that budget development, budget management, and fiscal control play in ensuring the financial strength of healthcare organizations. Topics will include: an overview of the healthcare system from a financial viewpoint; the healthcare revenue cycle; financial statement analysis; management of working capital; financial literacy; the time value of money and investment decision models; funding sources and debt financing; long-term capital structure; mergers and acquisitions; analyzing financial statements; cost management; legal and regulatory issues; accounting for inflation; and decision analysis techniques. Students will apply a variety of methods including case study analysis, excel spreadsheet modeling, group problem solving, and the application of a Department Manager's Toolkit to demonstrate competence in concepts and methods. 4 credits.
Intro Healthcare Accounting & Finance