HCA 510: Advanced Healthcare Finance

Course Description

This course focuses on theory and applications of economic analysis and managerial decision making based on healthcare policy topics in the healthcare financial environment. Emphasis is on capital financing, managed care contracting, physician contracts, equity financing, payment systems, decision making and performance reporting and analysis for specific healthcare entities. A key objective of the course is to develop the student’s ability to engage in long-term financial forecasting and planning. (3 credits)

Associated Program Learning Outcomes

  • #6. Assess economic factors and payment sources that influence health care decisions of the population served.
  • #7. Prepare and analyze departmental and organizational budgets.
  • #8. Manage financial endeavors for the healthcare organization, including explaining financial and accounting information and the use of that information for short and long-term investment decisions.

Student Learning Outcomes (SLOs)

Students who successfully complete this course will be able to:

  1. Determine the key uses and users of financial information in healthcare.
  2. Articulate the sources of revenue in healthcare and how it is recorded.
  3. Compare the difference between non-profit and for-profit healthcare systems and the importance of community benefits.
  4. Examine the fundamentals of non-profit healthcare accounting practices.
  5. Prepare, analyze, and create financial statements for a healthcare system.
  6. Assess the importance of strategic planning and the role of operating and capital budgeting.
  7. Integrate the concepts of the time value of money (TMV) to optimize investment options and reduce the cost of capital.
  8. Evaluate the importance cost accounting in healthcare.
  9. Demonstrate the importance of the pro forma in decision making.
  10. Assess productivity management and its role in the financial health of healthcare providers.
  11. Interpret and demonstrate a comprehensive knowledge of healthcare finance concepts and functions.
  12. Make recommendations to improve the use of healthcare financial information.

 

Course Activities and Grading

Assignments

Weight

Discussions (Weeks 1-8)

20%

Midterm Exam (Week 4)

15%

Project Plan (Week 5)

15%

Final Report (Week 8)

25%

Final Exam (Week 8)25%

Total

100%

Required Textbooks

Available through Charter Oak State College's online bookstore

  • Cleverley and Cleverly. Essentials of Health Care Finance. 8th ed. Jones and Bartlett Learning, LLC, 2018. ISBN-13: 9781284094633

 

Additional Resources

  • Journal Articles and other course material, including case study information and primary websites, will be provided as required reading within the course.

 

Course Schedule

Week

SLOs

Readings and Exercises

Assignments

1

1,2

Topics: Financial Information and Revenue

  • Readings
    • Cleverley & Cleverley, Chapters 1-3
    • PowerPoint presentation, Week #1 Lecture
  • Review Getting Started information
  • Review course syllabus
  • Read assigned chapters
  • Review the Lecture material
  • Introduce yourself in discussion forum and participate in the Discussions
  • Take the Practice Quiz (not graded)

2

3,4

Topics: Healthcare Organization Structures and Non-Profit Status

  • Readings:
    • Cleverley & Cleverley, Chapters 4 & 5
    • PowerPoint presentation, Week #2 Lecture
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material
  • Take the Practice Quiz (not graded)

3

5

Topics: Financial Statements and Accounting

  • Readings:
    • Cleverley & Cleverley, Chapters 8-10
    • PowerPoint presentation, Week #3 Lecture
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material
  • Take the Practice Quiz (not graded)

4

6

Topics: Budgeting and Strategic Planning

  • Readings:
    • Cleverley & Cleverley, Chapters 13 & 16
    • PowerPoint presentation, Week #4 Lecture
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material
  • Take the Practice Quiz (not graded)
  • Take the Midterm Exam
  

Midterm Exam

Chapters 1-5, 8-10 and 13 & 16

SLOs 1-6 & 11

 

5

8,9

Topics: Cost Accounting and the Pro Forma Process

  • Readings:
    • Cleverley & Cleverley, Chapters 14 & 15
    • PowerPoint presentation, Week #5 Lecture
  • Read assigned chapters
  • Review the Lecture material
  • Participate in the Discussions
  • Submit Project Plan
  • Take the Practice Quiz (not graded)

6

7

Topics: Time Value of Money and Cost of Capital

  • Readings:
    • Cleverley & Cleverley, Chapters 19 & 21
    • PowerPoint presentation, Week #6 Lecture
  • Read assigned chapters
  • Review the Lecture material
  • Participate in the Discussions
  • Take the Practice Quiz (not graded)

7

10

Topics: Productivity Management and Benchmarking

  • Readings:
    • Cleverley & Cleverley, Chapter 17
    • PowerPoint presentation, Week #7 Lecture
  • Read assigned chapter
  • Review the Lecture material
  • Participate in the Discussions
  • Take the Practice Quiz (not graded)

8

6,7,11,12

Topics: Working Capital and Cash Management

  • Readings:
    • Cleverley & Cleverley, Chapters 22 & 23
    • PowerPoint presentation, Week #8 Lecture

     

  • Read assigned chapters
  • Review the Lecture material
  • Participate in the Discussions
  • Take the Practice Quiz (not graded)
  • Submit Final Project
  • Take Final Exam
  

Final Exam

Chapters 1-5, 8-10, 13-17, 19, 21, and 23-23

SLOs 1-12

 

 

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.