Healthcare Economics & Financial Management

Catalog description

This course is designed to provide the student with an understanding of the economic and financial realities in health care. An overview of health economics including relationships to supply, demand, price and concepts relevant to payment mechanisms provides a basis for financial management. understanding the relationship of strategic & operational planning to budget formulation & execution will provide knowledge and insight to guide management and decision-making for improved patient care outcomes and patient satisfaction. A focus on budget preparation and monitoring provides the necessary learning to understand variance and variance analysis. An introduction to the concepts of analyzing financial performance in a health care setting integrates the economic and financial contingencies presented in the course. Successful completion of this course will equip the student with the tools necessary to be able to effectively communicate with finance professionals regarding decisions being made in the organization.