Course Description
Introduces key aspects of financial management for today's healthcare organizations, addressing diverse factors that impact the provision of medical services in our dynamic and competitive environment. Students will gain knowledge and skills in the various types of healthcare budgeting and financial reporting, applying these skills through practical case scenarios and problem-solving activities.
Course Textbook
Berger, S. (2014). Fundamentals of health care financial management: A practical guide to fiscal issues and activities (4th ed.). San Francisco, CA: Jossey-Bass.
Course Learning Outcomes
Upon completion of this course, students should be able to:
1. Explain the basic concepts of financial management in healthcare organizations.
2. Explain the aspects of managing short-term and long-term assets and liabilities in healthcare organizations.
3. Analyze agency relationships in healthcare and how organizations can ameliorate agency costs.
4. Explain the similarities and differences among the major approaches to valuation of healthcare firms.
5. Distinguish variable versus fixed, and direct versus indirect costs, for a healthcare service or process.
6. Calculate net present value, internal rate of return, and profitability indexes given assumed cash flows and discount rates in healthcare operations.
7. Compare and contrast the choices for external financing faced by healthcare organizations.
8. Evaluate the basic principles of working capital management as rooted in controlling opportunity costs in healthcare firms.
9. Discuss the financial approach to strategic healthcare planning and how managers can participate effectively in that process.
10. Describe key impacts of the Patient Protection and Affordable Care Act on the financial management of U.S. healthcare organizations, providers, patients, payers, and employers.
Credits
Upon completion of this course, the students will earn three (3) hours of college credit.
Course Structure
1. Study Guide: Each unit contains a Study Guide that provides students with the learning outcomes, unit lesson, required reading assignments, and supplemental resources.
2. Learning Outcomes: Each unit contains Learning Outcomes that specify the measurable skills and knowledge students should gain upon completion of the unit.
3. Unit Lesson: Each unit contains a Unit Lesson, which discusses lesson material.
4. Reading Assignments: Each unit contains Reading Assignments from one or more chapters from the textbook and/or outside resources.
5. Suggested Reading: Chapter presentations are provided in each unit study guide as Suggested Reading to aid students in their course of study.
6. Unit Assessments: This course contains six Unit Assessments, one to be completed at the end of Units I-VI.
Assessments are composed of written-response questions.
BHA 4053, Financial Management in Healthcare Administration
7. Unit Assignments: Students are required to submit for grading Unit Assignments in Units VII and VIII. Specific information and instructions regarding these assignments are provided below. Grading rubrics are included with each assignment. Specific information about accessing these rubrics is provided below.
8. Ask the Professor: This communication forum provides you with an opportunity to ask your professor general or course content related questions.
9. Student Break Room: This communication forum allows for casual conversation with your classmates.
CSU Online Library
The CSU Online Library is available to support your courses and programs. The online library includes databases, journals, e-books, and research guides. These resources are always accessible and can be reached through the library webpage. To access the library, log into the myCSU Student Portal, and click on "CSU Online Library." You can also access the CSU Online Library from the "My Library" button on the course menu for each course in Blackboard.
The CSU Online Library offers several reference services. E-mail ([email protected]) and telephone (1.877.268.8046) assistance is available Monday - Thursday from 8 am to 5 pm and Friday from 8 am to 3 pm. The library's chat reference service, Ask a Librarian, is available 24/7; look for the chat box on the online library page.
Librarians can help you develop your research plan or assist you in finding relevant, appropriate, and timely information.
Reference requests can include customized keyword search strategies, links to articles, database help, and other services.
Unit Assignments
Course Project Introduction
You are required to complete a project for this course, which is due in Unit VII. The course project is a significant portion of your grade, so you should consider it a very important activity. Please review the assignment instructions below and begin by selecting your topic. Since this is a course project, it is expected that you will start working on the project early on in the course in order to submit it in Unit VII. Please contact your instructor if you have any questions regarding the assignment.
Unit 1 Course Project
The course project must include at least the following sections; you may want to include others if you deem them appropriate:
1. Introduction
2. Challenges and Problems (associated with your topic)
3. Review of the Literature
4. Critical Analysis of Challenges/Problems
5. Recommended Solutions
6. Implementation of Solutions
7. Justification of Solutions
8. Conclusion
9. References
Some possible course project topics for your consideration are listed below:
Managed care impacts on healthcare finance
The Patient Protection and Affordable Care Act and healthcare finance
Hospital ownership types and impacts on healthcare finance
Presenting hospital financial statements
Strategic financial planning for healthcare organizations
Financial management of home health care
Financial management of ambulatory surgery
Financial management of clinics
Financial management of physician practices
BHA 4053, Financial Management in Healthcare Administration
Flexible budgeting for healthcare organizations
Capital budgeting for healthcare organizations
Information management for healthcare organizations
Principles and practices for hospital auditing
The course project must be seven to ten pages, double-spaced, not counting the cover page and the references pages. You must use at least five outside sources for your course project beyond the course textbook. At least one reference must come directly from the CSU Online Library. Web resources and professional journal articles will be key sources in researching your topic.
All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying APA citations. Information about accessing the Blackboard Grading Rubric for this assignment is provided below.
Unit 2 Reflection Paper
For this assignment, you are asked to prepare a reflection paper on the topic of the unit lesson. Discuss the need for hospital and physician professional liability coverage (malpractice insurance) in American health care today. Make sure to cover the following points:
Why is malpractice coverage so extremely expensive today?
Do you feel that the need for liability insurance adds to or detracts from the patient care that is provided?
Your response should be at least one page in length. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations per APA standards.
Information about accessing the Blackboard Grading Rubric for this assignment is provided below.
APA Guidelines
The application of the APA writing style shall be practical, functional, and appropriate to each academic level, with the primary purpose being the documentation (citation) of sources. CSU requires that students use APA style for certain papers and projects. Students should always carefully read and follow assignment directions and review the associated grading rubric when available. Students can find CSU's Citation Guide in the myCSU Student Portal by clicking on the "Citation Resources" link in the "Learning Resources" area. This document includes examples and sample papers and provides information on how to contact the CSU Success Center.