Prerequisites: Prerequisite for Health Law MJ students: Law 900, 901, and 902. Health Law MJ students should take Law 903 in conjunction with Law 904. Health Law LLM students should take Law 903 in conjunction with 902 in their first term.
Students explore the general principles and techniques of financial management and accounting as applied to health care organizations. Considerable focus is placed upon definition, history, and methods by which providers of health care services are reimbursed by third parties.
Outcomes: Define key financial management concepts and principles as they apply to health care organizations; Analyze the role of financial management in ensuring the sustainability of health care providers ; Identify the historical developments that have shaped reimbursement systems in health care; Understand how reimbursement models have evolved over time, from fee-for-service to modern value-based care structures; Demonstrate proficiency in applying basic accounting techniques, including budgeting, forecasting, and financial reporting, within health care organizations; Understand how financial statements (balance sheets, income statements, cash flow statements) are used in health care decision-making; Analyze how third-party payers (e.g., insurance companies, government programs) impact financial operations of health care organizations; Examine common reimbursement methods, such as capitation, bundled payments, and Medicare/Medicaid; Identify financial challenges faced by health care providers due to third-party reimbursement; Investigate the impact of underpayment or delayed payments on health care organizations' financial health.
Students explore the general principles and techniques of financial management and accounting as applied to health care organizations. Considerable focus is placed upon definition, history, and methods by which providers of health care services are reimbursed by third parties.
Outcomes: Define key financial management concepts and principles as they apply to health care organizations; Analyze the role of financial management in ensuring the sustainability of health care providers ; Identify the historical developments that have shaped reimbursement systems in health care; Understand how reimbursement models have evolved over time, from fee-for-service to modern value-based care structures; Demonstrate proficiency in applying basic accounting techniques, including budgeting, forecasting, and financial reporting, within health care organizations; Understand how financial statements (balance sheets, income statements, cash flow statements) are used in health care decision-making; Analyze how third-party payers (e.g., insurance companies, government programs) impact financial operations of health care organizations; Examine common reimbursement methods, such as capitation, bundled payments, and Medicare/Medicaid; Identify financial challenges faced by health care providers due to third-party reimbursement; Investigate the impact of underpayment or delayed payments on health care organizations' financial health.