Course Description
This course is to prepare health care administrators for the responsibilities involved in maintaining a well-managed health care organization it provides a conceptual and practical knowledge of health care finance, which includes source of funding, revenue, cost determinants, third party payers, managed care contracts, and valuations that have an impact on health care organization. Types of budgets; considerations for cash flow, payables and receivables, and considerations in working with various types of revenue streams.
Upon completion of this course, you will be able to:
1) Have basic understanding of the theory and principles of health care finance including both accounting and financial management.
2) General overview of current and historical financial issues unique to health care field
3) Discuss basic financial management concepts
4) Understand how the unique features of health care field affect the application of finance theory and principles
5) Identify key elements driving changes in health care financial management
6) Read and analyze the basic financial statements of health care providers
7) Calculate and interpret financial ratios
8) Understand working capital and revenue cycle management
9) Describe the purpose of budgeting, the budgeting process and major budget types.
