Description:

Introduction to the healthcare finance and business cycles and how they shape the design of healthcare data and information technology systems. Covers interdepartmental charge and third-party reimbursement structures and how they apply to various healthcare organizations, modern medical centers and alternate care sites; emerging Accountable Care Organizations; and Patient-Centered Medical Homes. Prerequisite: ECON 315.

Outcomes:

After completing this class, students should be able to:

• Present and analyze the trends and current issues in healthcare finance management and accounting
• Appraise the main characteristics of the healthcare payment system and the roles and responsibilities of the different organizations and stakeholder groups
• Identify, define and apply basic accounting principles, assumptions and constraints in the context of the healthcare IT system implementation and management
• Analyze the financial cycle and value chain in the healthcare business and health IT projects
• Prepare, analyze, and interpret healthcare financial statements and budgets, and general financial and accounting information
• Develop and justify financial recommendations using accounting data that relates to the financial decision-making process
• Apply the concepts and elements of budgeting, costs and capital financing, working capital, and financial assessment and risk as they apply to health IT projects
• Summarize the regulations and standard practices that govern healthcare finances and accounting
• Examine the financial roles of the different organizations in the healthcare system, including healthcare providers, insurances, labs, and patients, and how they impact health IT project decisions
• Discuss and synthesize the trends in financial, security oversights in the healthcare industry including , multinational aspects
• Analyze the process of financial planning, documentation, reporting, controls systems, security and auditing in the context of health IT projects
• Define and apply practices that support equipment purchase and depreciation accounting, and pricing strategies in the context of health IT projects
• Discuss and synthesize ethical standards for the process of financial management and accounting in healthcare
• Analyze the impact of emerging models such as Patient-Centered Medical Home and regulations such as Emerging Accountable Care Organizations on healthcare finance and on health IT project ROI