Course Description
This intensive 5-day program provides healthcare professionals with a comprehensive understanding of accounting and finance principles specific to healthcare organizations. Participants will develop skills in financial analysis, budgeting, and strategic decision-making to drive organizational success and improve patient care outcomes.
Learning Objectives
- Understand fundamental accounting concepts and financial statements in healthcare
- Analyze financial data to assess organizational performance and make informed decisions
- Develop and manage budgets for healthcare departments and programs
- Evaluate capital investment opportunities and financial risks in healthcare settings
- Apply cost accounting techniques to improve resource allocation and efficiency
- Understand healthcare reimbursement systems and revenue cycle management
Course Modules
Day 1: Introduction to Healthcare Finance
- Overview of healthcare financial management
- Healthcare accounting principles and practices
- Financial statements for healthcare organizations
- Key financial ratios and performance indicators
Day 2: Budgeting and Cost Management
- Operating and capital budgeting in healthcare
- Cost allocation and activity-based costing
- Break-even analysis and cost-volume-profit relationships
- Variance analysis and performance reporting
Day 3: Financial Analysis and Decision Making
- Time value of money concepts
- Capital investment analysis techniques
- Risk assessment and management in healthcare finance
- Financial forecasting and long-term planning
Day 4: Revenue Cycle and Reimbursement
- Healthcare reimbursement systems (Medicare, Medicaid, private payers)
- Revenue cycle management and optimization
- Charge capture and coding considerations
- Accounts receivable management and collections
Day 5: Strategic Financial Management
- Mergers, acquisitions, and partnerships in healthcare
- Financial aspects of quality improvement initiatives
- Balanced scorecard approach for healthcare organizations
- Case studies in healthcare financial management
Practical Wins for Participants
- Ability to interpret financial statements and assess organizational health
- Skills to develop and manage department budgets effectively
- Techniques to evaluate and justify capital investments and new programs
- Strategies to optimize revenue cycle management and improve cash flow
Credits: 5 credit per day
Course Mode: full-time
Provider: Blackbird Training Centre
