Healthcare Finance (HCM 565)

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Public Health

Department Health Sciences College
  HCM 565 Course Code: Healthcare Finance Course Name
3 hours Contact Hours 3 credit Hours Credit Hours
  English   Arabic Teaching Language
None Prerequisite Level 3 Course Level
Course Description:

This course focuses on the application of key finance principles and concepts to healthcare organizations. The course enables students to learn how to develop, apply, and interpret various financial tools and concepts including financial statements analysis, costs structure and allocation, dashboards, budgeting and variance analysis, sources of revenue and reimbursement, return on investment analysis, financial ratios, capital budgeting and investment decision making, and working capital management.

Course learning outcomes:

1.Describe functions of financial management, roles, responsibilities of finance managers in Saudi Arabian healthcare organizations, financial forecasting and strategic financial planning for effective decision making.

2.  Define the concepts of time value money, revenue cycle, reimbursement, costs structures, cost allocation methods, used by Saudi Arabia’s healthcare organizations to ensure effective control, operation sustainability, and organizational efficiency and effectiveness.

3. Interpret the staffing methods and regulations to find out the direct and indirect costs associated with turnover for a better staffing forecast.

4.Analyze the financial statements, working capital management,  break-even analysis ,capital budgeting and investment for long-term financing decisions and options, other critical financial plans needed to ensure the organization’s financial viability in the long-term.

5. Evaluate spreadsheets and financial reports used for monitoring, control, reporting, and oversight in the application of basic financial management values.

Major Course Topics:

 

1.      Introduction to Healthcare Financial Management in Saudi Arabia.
2.      The Flow of Information and the Role of Technology
3.      Payments to Providers
4.      Time Value of Money
5.      Understanding Financial Statements
6.      Financial Risk and Required Return
7.      Evaluating the Role of Debt
8.      Lease Financing – Is it Better to Purchase or Rent?
9.      Capital Budgeting and Allocation
10.  Revenue Cycle and Current Accounts Management
11.  Staffing Methods and Regulations
12.  Financial Forecasting
13.  Strategic Financial Planning and Decision-Making
14.  Business Valuation and Performance Analysis
  Assignments   Quizzes   Mid-Term Exams Grading:
   Lab Work   Project   Final Exam
Pink, G. H., & Song, P.H. (2020). Gapenski’s understanding healthcare financial management (8th ed.). Chicago: Association of University Programs in Health Administration and Health Administration Press. ISBN: 9781640551091. Text Book:
All Critical Thinking Assignments, Portfolio Project, models, and mini-cases are accessed at the publisher’s website: https://www.ache.org/pubs/hap_companion/book.cfm?pc=2283 Reference Book (s):

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