Master the financial trends within health care organizations (HCO) and better manage your bottom line.
Duration: 8 weeks
Credits: 3 credits
Financial Management of Health Care Organizations (HAD 556) provides an introduction to the fundamental theories and practices of financial management as they relate to health care organizations. Throughout the course, you’ll explore budgeting principles with a strong focus on return on investment (ROI).
Financial Management of Health Care Organizations Coursework
The coursework in HAD 556 takes a more direct approach and explains the basic financial concepts and the development of internal financial reports. It also includes information on analyzing and interpreting financial statements. As a supplement to class learning, you’ll follow current health care events, keep a reading log, write short papers, and conclude with a final project that takes a broad look at the ROI of electronic medical records (EMR).
Up for Discussion
Learn from your instructor and peers via interactive discussion forums that can include a number of intriguing and current health topics like the example below.
How is Medicare impacting the financial management of HCO?
What You’ll Learn in Financial Management of Health Care Organizations
Throughout HAD 556 Financial Management of Health Care Organizations, you’ll receive an overview of the health care environment, and the challenges confronting health care organizations and their related impact on the financial and operational activities. You’ll learn the uses and users of financial statements, explore both the internal and external environments where financial data is utilized, and discuss the merger and acquisition environment.
As the course progresses, relevant legal, regulatory, and compliance concerns as they relate to the Patient Protection and Affordable Care Act (PPAC) are discussed. The idea of “doing the right thing for the right reason” as a corporate compliance program is addressed. You’ll discover managed care, integrated delivery systems, and accountable care organizations serve as a natural segue into the organizational and reimbursement structures advanced by health reform.
Another fundamental aspect of financial management of HCO includes the distinction between financial accounting and managerial accounting. The management of capital formation sources will be introduced and the key characteristics of cost, control, risk, availability, and adequacy as it impacts long-term debt will be covered. In preparation for the final ROI project, an overview of the development of revenue, operating, capital, and cash budgets will be explained so you can integrate a strategic and financial plan.
As the course concludes, you’ll learn concepts of cost identifying as a system of accounting and engineering to determine the lowest level of detail possible. You’ll account for all material and labor component costs of a product or service/responsibility centers or departments, and combine them with an allocation of overhead cost to arrive at a total product or project cost, for example, the ROI of EMR.
Over the eight-week duration of the course, you’ll be introduced to new topics and weekly themes. Sample weekly topics may include:
- Financial Information and Decision Making
- Financial Environment of Health Care Organizations
- Measuring Community Benefit
- Consolidations and Mergers
- Legal and Regulatory Environment
- Billing and Coding for Health Services
- Revenue Determination
- Health Insurance and Managed Care
- General Principles of Accounting
- Financial Statements
- Analyzing Financial Position
- Financial Analysis of Alternative Health Care Firms
- Capital Formation
- Working Capital and Cash Management
- Strategic Financial Planning
- Management Control Process
- Financial Mathematics
- Capital Project Analysis
- Developing the Cash Budget
- Cost Concepts and Decision Making
- Product Costing
- Cost Variance Analysis
Course Learning Objectives
All Financial Management of Health Care Organizations coursework provides you with a broad overview of the essential practices and theories related to health care finance. Upon completion of the course, you will have the knowledge to:
- Describe and explain the financial impact of emerging trends in health care organizations.
- Recognize and evaluate real-world scenarios of health care financial issues.
- Analyze and apply the current theory of third party reimbursement practices and regulations.
- Provide the tools to facilitate integration into day-to-day practice by health care management.
Request More Information
To learn more about the online Master of Science in Health Administration curriculum from Saint Joseph’s University, including a track in Informatics, call (866) 758-7670 to speak with a program manager or request more information below.