HCML 320 Finance & Accounting for Healthcare Managers • 5 Cr.
Addresses issues of financial management in healthcare systems, including budget development and analysis, equipment purchase and depreciation, salaries and benefits, and coding and reimbursement. Case studies are used to bring a contextual focus on specific healthcare departments and organizations including multinational aspects and parameters of outsourcing. Prerequisite: Acceptance to the program or permission of instructor. Previously RAIM 320.
After completing this class, students should be able to:
After completing this class, students should be able to: 1. Present and analyze the trends, regulations, and current issues in healthcare finance and accounting management 2. Analyze the financial environment in the healthcare industry and how it affects the role of healthcare managers in healthcare units and departments 3. Record and summarize economic transactions in accordance with generally accepted accounting principles, multinational and security requirements in reporting 4. Analyze the financial cycle and value chain in the healthcare organizations and departments 5. Prepare, analyze, and interpret healthcare financial and accounting statements, projections, and budgets (operational & capital) 6. Develop and justify financial recommendations using accounting data that relates to the financial decision-making process 7. Analyze the process of financial planning, documentation, reporting, controls systems, security and auditing in the context of healthcare organizations, departments and outsourcing entities.