Finance for Health Care Organizations: Course Outline (MSHCM)

Course Objectives

• To achieve fundamental level understanding of foundation concepts of healthcare finance
• To achieve fundamental level financial implications of planning, managing, and control by discussing costs
• To achieve fundamental level understanding of financing and investment decisions
• To achieve fundamental level understanding of how healthcare providers create statements that compile and report financial results, and how those results are interpreted

LEARNING OUTCOMES

At the end of this course, students should be able to comprehend

• healthcare finance, healthcare environment, uniqueness of the healthcare industry and other basic business concepts
• costing and pricing decisions
• planning and budgeting
• management of financial operations
• appropriate mix of financing, cost of financing and new capital investment opportunities
• income statement, balance sheet and statement of cash flows

COURSE CONTENTS

While finance is a universal language, the world of healthcare finance has slight differences and nuances that many other industries don't encounter. Finance for Healthcare Professionals will teach participants the basics of finance and accounting with a specific emphasis on their industry. This course is appropriate for healthcare executives, professionals, lab managers, nurses or others that need a better understanding of accounting and finance in the healthcare industry. Healthcare organizations need the same finance professionals that manufacturing and service companies do, but for medical professionals the transition into healthcare financial management requires some preparation. Acquiring accounting and finance knowledge of the healthcare industry through additional training will enhance their skills and help them compete in this complex field. Course contents are designed to encompass the course objectives and the related learning outcomes.