NLX 473 - Healthcare Financial Management
3 credits ( 3 didactic credits )
- Prerequisite:
- none
Description:
- This foundational course provides health care managers the accounting and financial information needed to assure that organizations produce information that will support their responsibility to make necessary and sound decisions. The course will focus on the operations of health care organizations such as not for profit and for profit hospitals, physician groups and other healthcare agencies including how these organizations use accounting and financial systems for decision making. In this course, we will examine the healthcare organization as a management function and the basic principles of accounting followed by financial statement analyses, cost accounting, cost shifting, capital and operating budgeting, managing accounts receivable, materials management and healthcare economics. We will examine these topics and their use in planning, control, evaluation and “real life” work examples. The primary objective of this course will be to provide a fundamental comprehension of the tools needed to understand and communicate with accounting and financial peers within the workplace and profession and be able to be involved in a constructive manner in making sound managerial decisions. The healthcare system in the U.S. has been in the midst of a rapid transition in response to changing trends and demographics, technological advances and changing methods of reimbursement. The roles of care providers and administrators are complex and many times contradict each other when quality, cost efficiency and financial matters are discussed. As the U.S. moves toward a more consumer driven healthcare system and the numerous discussions currently in the political arena for an affordable healthcare system to include all Americans, it becomes a challenge for care providers, patients and administrators to balance the topics discussed in this class and eventually serve the patients in the best possible manner for the least amount of cost.