HCM 425 - Principles of Finance in Healthcare

Credits: 5
Variable Credit Course: No

Lecture Hours: 55
Lab Hours: 0
Worksite/Clinical Hours: 0
Other Hours (LIA/Internships): 0

Course Description: Introduction to the application of financial management principles in the healthcare setting. Includes the analysis of financial statements for capital decision making and managing working capital (planning and control, equipment purchase and depreciation, budgeting) and. Review the people, processes, and technology used during each phase of the healthcare reimbursement cycle. Evaluate best practices in revenue cycle management, including coding and reimbursement to make effective management decisions.

Prerequisite: BASM Dept. Chair permission.
Meets FQE Requirement: No
Integrative Experience Requirement: No

Student Learning Outcomes

Identify major financial management principles such as the importance of cash, time value of money and return on investments, by researching their general and their health care applications.
Investigate key principles of organization financing such as capital structures and sources, sources of revenue, working capital management, and financing by researching applications in health care fields.
Assess approaches to managing financial risk by reporting on investment simulations in healthcare fields.
Evaluate the tension between financial return and social responsibility by analyzing trends in healthcare management fields

Course Contents

Major financial management principles such as the importance of cash, time value of money and return on investments.
Key principles of organization financing such as capital structures and sources, sources of revenue, working capital management, and financing.
Approaches to managing financial risk by reporting on investment simulations in healthcare fields.
Tension between financial return and social responsibility by analyzing trends in healthcare management fields.

Instructional Units: 5