Course Description
This course will focus on the managerial aspects of financial analysis. It includes analysis of financial statements, costs, capital projects, and working capital, Medicare, Medicaid, changes and rate setting under reimbursement schedules, budgeting, ROI methodology, forecasting, and strategic planning. (3 credits)
Recommended Prerequisites
- ACC 101: Financial Accounting
Student Learning Outcomes (SLOs)
Students who successfully complete this course will be able to:
- Summarize the four main elements of financial management and know how to structure the information flow to make a financial management system work.
- Explain the differences in and know how to group sources of healthcare revenue and costs for planning and control.
- Illustrate distinctions between expense and cost, and explain where to place individual items under these categories.
- Demonstrate how to distinguish between direct and indirect costs, ethical and unethical costs billed to patients, fixed versus variable or semi-variable costs, and product versus period costs.
- Describe the role of common sizing and use trend analysis.
- Explain the use of the Pareto rule and apply the financial principles learned in this course to a global problem facing.
- Effectively use present values, discounted cash flows, internal rate of return, return on investment (ROI), payback period, liquidity ratios, solvency ratios, and profitability ratios in their daily work activities.
Course Activities and Grading
| Assignments | Weight |
|---|---|
Discussions (Weeks 1 - 7) | 25% |
Assignments (Weeks 2, 3, 5, 6, 7) | 25% |
Midterm Exam (Week 4) | 25% |
Final Exam (Week 8) | 25% |
Total | 100% |
Required Textbooks
Available through Charter Oak State College's Book Bundle
Ross, Thomas K. Baker’s Healthcare Finance: Basic Tools for Nonfinancial Managers.6th ed. Jones and Bartlett Publishers, 2023. ISBN-13: 978-1-284-23316-2
Additional Resources
- Financial Calculator: found on an Internet web purchased through an electronics store.
Course Schedule
Week | SLOs | Readings and Exercises | Assignments |
1 | 1 | Topics: Healthcare Finance Overview
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2 | 2 | Topics: Record Financial Operations
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3 | 2, 3 | Topics: Tools to Analyze & Understand Financial Operations
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4 | 1 - 4 | Topics: Report, Ratios & Time Value of Money
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5 | 5 | Topics: Constructing an Operating Budget and Variance Analysis
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6 | 6 | Topics: Benchmarking and Other Measurements Tools to Improve Financial Performance
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7 | 6, 7 | Topics: Time Value of Money, Capital Budget Construction & Data Analytics
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8 | 1 - 7 | Topics: Financial Terms, Costs, and Choices
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02202025
COSC Accessibility Statement
Charter Oak State College encourages students with disabilities, including non-visible disabilities such as chronic diseases, learning disabilities, head injury, attention deficit/hyperactive disorder, or psychiatric disabilities, to discuss appropriate accommodations with the Office of Accessibility Services at OAS@charteroak.edu.
COSC Policies, Course Policies, Academic Support Services and Resources
Students are responsible for knowing all Charter Oak State College (COSC) institutional policies, course-specific policies, procedures, and available academic support services and resources. Please see COSC Policies for COSC institutional policies, and see also specific policies related to this course. See COSC Resources for information regarding available academic support services and resources.