ALHS 2317 - Fundamentals of Healthcare Finance

3 sem hrs cr

This course will provide students with theory, tools, and practical experience in healthcare financial management. It examines payment sources and reimbursement arrangements; the public and private financing of healthcare service organizations from both a theoretical and practical perspective; and emerging trends in the healthcare industry that affect financial decision-making. Topics of study include capital and debt financing, capital structure, financial planning, operating revenue, working capital, resource allocation, and financial analysis of the industry. A case study method will be used to provide the student with the opportunity to analyze a working healthcare organization. (3 lecture hours/week; not part of a TN Transfer Pathway)

Transfer (UT) or Non-Transfer Course (UN): UN

Upon successful completion of this course, the student will be able to…

• identify the components of important financial statements—income statement, balance sheet, and statement of cash flows—and explain how they relate both to each other and to the underlying sources of data.
• discuss the basic elements of a business including ownership and organizational goals.
• evaluate the financial statements and the financial position of healthcare institutions.
• explain the complexity of cost behaviors in healthcare organizations and describe how costs are classified according to their relationship with volume.
• develop a competence in making financial decisions using net present value, pertinent financial ratios, and break-even analysis.
• describe the overall planning process and the key components of the financial plan.
• explain why time value analysis is so important to healthcare financial management.
• apply fundamental financial management skills and knowledge to healthcare organizations.
• use technology and information resources to research issues in health financial management.
• describe the importance, purpose, and major objectives of financial management in healthcare organizations.
• submit an experiential learning portfolio that meets the guidelines and standards of the Experiential Learning component of PLA.