HSM - 532 Health Care Managerial Finance

This course moves beyond basic financial accounting and corporate finance and explores how financial information is used to manage and make decisions. Students are expected to learn and demonstrate an understanding of the way health care providers are paid for services based on the source of payment (Medicare, Medicaid, managed care) and the payment methodology. Cost allocation methodologies as well as types of costs, e.g. fixed, variable, semi-variable, will be taught. Students will gain a basic understanding of concepts critical to developing a long-term financial plan and operational and capital budgets. Students will also learn various concepts routinely employed for analyzing variances in actual financial results from budgeted expectations and tactics which can be employed by managers to mitigate the impact from unfavorable variances by improving revenue or reducing costs. The course will employ didactic as well as experiential learning techniques. Case studies, in-class exams, and team presentations will be used to evaluate students’ competencies to assemble revenue and cost information to make strategic and operational decisions and construct budgets and business strategies. The examples used will focus on existing and emerging trends that are impacting health care organizations. Prerequisite: HSM 531, HSM 536. Credit Hours: (4)