ACC 4020 - Healthcare Financial Management

3 unit(s)

Course teaches students the fundamental concepts of healthcare finance, including both accounting and financial management. It is designed for students of Health Science; it does not count as an elective course in the MBA program.

Course Learning Outcomes List
By the end of this course, students will be able to: Will be able to discuss the role of finance in health services organizations and how this role has changed over time; Able to briefly describe the third-party payer system in healthcare and the incentives created by different payment methods; Describe the components of the income and the relationships among these components; Describe the contents of the statement of cash flow and how it differs from the income statement; Describe the content of the balance sheet and list interrelationships with the income statement and the statement of changes in equity; Describe how costs are classified according to their relationship with volume; Conduct cost-volume-profit analyses to analyze the impact of changing assumptions on profitability and break-even points; Describe and apply cost allocation methods to allocate overhead costs among revenue-producing departments; Describe methods us.ed in healthcare to cost individual services; and Create a simple operating budget and use variance analysis to assess financial performance.

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