This course introduces fundamental concepts related to financial management of healthcare organizations. Students explore financial-decision tools and the role of financial decision-making in managing delivery of care. How the U.S. health system impacts an organization's financial health and management is considered. Major concepts include cost-accounting, budgeting, cost/benefit analysis, and reimbursement mechanisms.
Prerequisite: HSM 110 and FINC 301.
Outcomes: At the successful completion of the course, students will be able to: 1) Describe the impact of political, social, and economic factors on the cost of patient care delivery; 2) Analyze the impact of US healthcare payment system on the organization and delivery of healthcare; 3) Evaluate financial health of a healthcare organization; 4) Apply principles of accounting to organizational decision-making; 5) Explain revenue cycle and budgeting in a healthcare organization; 6) Explain the legal, ethical, and social justice issues surrounding fiscal management in the health care setting; 7) Describe non-profit's role in providing uncompensated care and impact on financial decision-making.
Prerequisite: HSM 110 and FINC 301.
Outcomes: At the successful completion of the course, students will be able to: 1) Describe the impact of political, social, and economic factors on the cost of patient care delivery; 2) Analyze the impact of US healthcare payment system on the organization and delivery of healthcare; 3) Evaluate financial health of a healthcare organization; 4) Apply principles of accounting to organizational decision-making; 5) Explain revenue cycle and budgeting in a healthcare organization; 6) Explain the legal, ethical, and social justice issues surrounding fiscal management in the health care setting; 7) Describe non-profit's role in providing uncompensated care and impact on financial decision-making.