Course Description
Introduction to financial management, financial analysis, and financial decision-making within the healthcare environment. Basic financial management concepts will be explored to answer questions such as which projects to finance, how to finance short-term operations, and how to finance long-term projects within the healthcare setting.
Athena Title
HEALTHCARE FINA
Semester Course Offered
Offered every year.
Grading System
A - F (Traditional)
Course Objectives
Upon completion of this course, students will be able to: • Define the objectives of financial management within a healthcare organization. • Demonstrate an understanding of the tools and skills needed to make the decision to allocate capital on competing projects within a healthcare setting. • Demonstrate an understanding of the funding mechanisms needed to maintain ongoing daily operations within an organization. • Demonstrate an understanding of capital markets and how and when to access those markets in order to acquire capital used to finance healthcare operations, building of facilities, or other initiatives. • Demonstrate an ability to analyze problems in healthcare financial management.
Topical Outline
1. Introduction to Healthcare Financial Management Environment 2. Basic Financial Management Concepts • Time Value of Money • Financial Risk and Required Return 3. Capital Acquisition • Financing Methods • Risks associated with Financing Methods 4. Cost of Capital and Capital Structure • Cost of Capital • Capital Structure Decision 5. Capital Allocation • The Basics of Capital Budgeting • Project Risk Analysis 6. Other Topics • Working Capital Management • Overview of Managed Care Concepts • Finance for Non-profit entities versus Shareholder- owned, Market-equity companies