To succeed in an increasingly competitive environment, healthcare managers require a full toolbox of knowledge and abilities. Yet, many managers lack financial skills or an understanding of how to apply them to their work.
Introduction to the Financial Management of Healthcare Organizations offers a fundamental overview of how financial management works in healthcare organizations. Designed for healthcare management students, clinical students, and managers new to healthcare, the book reinforces basic concepts through mini-case studies, practice problems, and self-quizzes. A comprehensive case at the end of the book draws on information presented throughout the chapters to help readers apply their newfound financial skills to real-world healthcare scenarios.
This heavily revised edition features current data and updated content on economics, financial accounting, laws, and regulations. Organized into modules, the book allows instructors to use the chapters that are best suited to their course and in the order that they prefer. Chapter one appendices highlight introductory content and terminology exploring statistics, economics, and financial accounting.
New topics in this edition include:
The status of Medicaid expansion
Changes in GAAP (generally accepted accounting principles)Fraud and abuse initiatives and settlementsPayment reform, such as value-based purchasing initiatives and pricing transparency lawsHealthcare reform efforts, including early indications of President Biden's agendaCOVID-19 relief efforts and issues exposed by the pandemic Each of the book's chapters concludes with a summary of key points and discussion questions, encapsulating what readers are learning.
The concepts and practical skills learned from this book will better equip readers to manage-and solve-the day-to-day financial problems they will face throughout their careers.