Fundamental Principles of Healthcare Economics and Finance

Catalog description

In this course, students will gain an understanding of fundamental principles related to the economics and business of health care. Students will develop literacy in healthcare finance and understanding of the financial competencies involved in complex decisions for health care organizations in a variety of settings. This course is designed to facilitate the student's knowledge and application of financial principles related to the provision of healthcare services, and to prepare for analysis of the financial impact of clinically-led initiatives. Course content includes a formative overview of the health care landscape, fundamentals of economics, review of the financial planning cycle, including budgeting, variance review and cost-benefit analysis. It will also introduce the basics of reimbursement by third party health insurers, as well evolving payment models. The course capstone provides an opportunity for students to apply their skills in developing the building blocks of a business case to support strategic planning, to implement intentional solutions, to advance policy for clinical advancement, or to ensure access to appropriate resources for innovations in care.