Advanced Financial Management of Health Care
Description: This mini-course builds upon the students learning basis from Financial Statements & Analysis of Companies (course 90-723). Advanced Financial Management of Health Care is designed to provide students with a general understanding of health systems financial management - including a conceptual framework, financial tools, and management techniques. The subjects covered will provide the background and analytic skills for students to evaluate select financial matters encountered in the overall management of health systems. The course includes lectures, substantial reading assignments and real world examples and discussions. Initial lectures include a historical perspective on health systems financial management issues, including the evolution of third party payors and various payment/reimbursement systems. This will also include issues impacting payments received from Medicare and commercial managed care insurers. Lectures will focus on federal and state health care policy decisions and the increasing impact on health systems finances. This background section will also include a theoretical and practical review of standard health systems financial management reports and effective techniques for using them. The course includes a section on integrated delivery systems and the currently evolving accountable care organizations arrangements between hospitals, physician organizations, long term care providers and managed care insurers. It will also address a number of initiatives the Center for Medicare and Medicaid Services (CMS) has in process or has proposed.