3 semester credits

Students in this course are introduced to the terminology, theory, concepts, and techniques used in the accounting and finance functions in healthcare organizations. They explore the important role of finance in healthcare organizations, in addition to the various techniques to develop, manage, and control finances. Using an applied approach to healthcare finance, students learn how to develop, apply, and interpret various financial tools, including budgets, sources of revenue/reimbursement by payer, income statements, balance sheets, dashboards, statements of cash flow, pro formas, return on investment analysis, financial ratios, capital budgeting, debt service and borrowing, depreciation, and cost allocation and cost accounting techniques. Students develop portions of a business/financial plan using these techniques and analyze the viability of their plan using accepted financial management tools.