HCM 4010: Financial Management for Healthcare Organizations
(Cross-listed with ACCT 4010).
Credits: 3. Contact Hours: Lecture 3.
Prereq: FIN 3010 and credit or enrollment in HCM 3010
Examination of the current accounting system for, and the financing of, health care and the factors affecting the industry. Exploration and analysis of budgetary concepts, financial management, cost accounting, and management under rate control and competition, as well as the differences between the goods and service industries. Additional areas of discussion include the practical application of health care finance theory as it applies to the current healthcare environment. The revenue and expense applications will be explored in-depth, particularly in relation to the delivery of health care services. Specific emphasis will be placed on understanding the components of the income statement and balance sheet, developing a budget, and using these financial statements for analyzing operational changes.
(Typically Offered: Fall, Spring)