RAIM 320 Finance & Accounting for Healthcare Managers • 5 Cr.
Addresses issues of financial management in healthcare systems, including budget development and analysis, equipment purchase and depreciation, salaries and benefits, and coding and reimbursement. Case studies are used to bring a contextual focus on radiation and diagnostic imaging departments and the healthcare industry including multinational aspects and parameters of outsourcing. Prerequisite: Acceptance to the program or permission of instructor.
New description starting Summer 2013
Addresses issues of financial management in healthcare systems, including budget development and analysis, equipment purchase and depreciation, salaries and benefits, and coding and reimbursement. Case studies are used to bring a contextual focus on specific healthcare departments and organizations including multinational aspects and parameters of outsourcing. Prerequisite: Acceptance to the program or permission of instructor.
Prerequisite: Acceptance into the program or permission of instructor.
After completing this class, students should be able to:1. Present and analyze the trends and current issues in healthcare finance management and accounting 2. Analyze the financial environment in the healthcare industry and how it affects the role of healthcare managers in healthcare units and departments 3. Identify, define and apply basic accounting principles, assumptions and constraints in the context of the healthcare system and specific healthcare departments 4. Record and summarize economic transactions in accordance with generally accepted accounting principles, multinational and security requirements in reporting 5. Analyze the financial cycle and value chain in the healthcare departments 6. Prepare, analyze, and interpret healthcare financial statements and budgets 7. Develop and justify financial recommendations using accounting data that relates to the financial decision-making process 8. Develop asset projection and management plans 9. Explain the concepts and elements of budgeting, costs and capital financing, working capital, and financial assessment and risk as they apply to specific healthcare departments 10. Summarize the regulations and standard practices that govern healthcare finances and accounting 11. Prepare, evaluate and assess general financial and accounting information 12. Examine the financial roles of the different organizations in the healthcare system, including healthcare providers, insurances, labs, and patients; control systems, outsourcing requirements 13. Discuss and synthesize the trends in financial, security oversights in the healthcare industry including , multinational aspects 14. Analyze the process of financial planning, documentation, reporting, controls systems, security and auditing in the context of healthcare departments and outsourcing entities 15. Compare the advantages and limitations of commonly used financial and accounting software products and systems in the healthcare industry, multinational, security factors 16. Define and apply practices that support equipment purchase and depreciation accounting, salaries and benefits accounting and evaluation, and pricing strategies in the context of healthcare departments 17. Analyze the process and issues relating to medical coding and reimbursement with an emphasis on codes relating to specific healthcare departments 18. Discuss and synthesize ethical standards for the process of financial management and accounting in healthcare