Healthcare Financial Management Course

Healthcare Financial Management Course – Master classes to improve the skills of professionals, managers and executives (PME) who want to move into a management role.

Our management courses specialize in programs to support professionals, managers and executives (PMEs) entering the healthcare sector as well as healthcare professionals aspiring to management.

Healthcare Financial Management Course

8, 15 and 22 March 2021 (Monday, 9:00 a.m. to 5:30 p.m.) or 16, 23 and 30 August 2021 (Monday, 9:00 a.m. to 5:30 p.m.)

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This course is required to equip management personnel with PDPA knowledge and prepare for compliance requirements.

This program is specially designed and delivered with the Singapore University of Social Sciences (SUSS) to equip job seekers with industry-relevant and job-ready skills to enhance their employability. It is a 6-month full-time training program and consists of 6 modular and mini-courses designed in partnership with industry to help trainees acquire industry-relevant skills that can improve their employability. Interns will also have the opportunity to apply the skills learned during the program through opportunities such as work attachments, service learning or project work.

Upon completion of the 6-month program, a certificate of completion will be issued to the trainee. This certificate is not valid and cannot be accumulated towards a diploma or degree at SUSS.

• Effective Healthcare Manager • Managing Healthcare Organizations • Big Data and Healthcare Supply Chain Management • Improving Patient Experience and Health Outcomes • Human-Centered Design: Reimagined (SUSS) • Flexibility for Change (SUSS)

Ph 742a: Health Services Financial Management Graduate School Of Public Health

Applicants will receive a stipend of up to $1,200 per month, subject to SkillsFuture Singapore’s requirement of at least 75% monthly attendance (i.e. at least 60 hours including courses, service learning/project work/work). In addition, this program offers:

The SGUS program empowers employers to support the national initiative in providing industry-related skills and knowledge to displaced Singaporeans or Singapore permanent residents. Employers must also:

The SGUS program is open to all Singapore citizens or permanent resident PMEs (professionals, managers, executives) who are 21 years of age and above. In addition, applicants must have the following:

* Please note that admission to the program is subject to interview and selection by HMI, SUSS and partner companies.

Nus Yong Loo Lin School Healthcare Strategy

Thank you for your interest. Please fill out the form and we will contact you shortly. 1 Graduate programs of the Faculty of Public Health and Community Medicine PHCM9441 Health Care Economics and Financial Management Semester 1, 2014

2 Participants Course Organizer: Kevin Ford Senior Lecturer School of Public Health and Community Medicine University of New South Wales School of Medicine UNSW Sydney NSW 2052 Phone: +61 (2) Fax: +61 (2) School of Public Health and Community Medicine and University of New South Wales South Wales . CRICOS provider number: 00098G. Previously published material in this book has been copied by the University of New South Wales under Part VB of the Copyright Act, as amended.

3 Course Outline Contents Welcome 1 Course Staff 1 Course Information 2 Course Objectives 3 Learning and Teaching Logic 4 Assessment Requirements Details 8 Reading Materials and Resources 23 Continuous Course Improvement 24 Additional Student Support 25 Internal Course Schedule 27 Glossary of Economics Modules 1:28 Management 1-1 Section 1: The Nature and Purpose of Accounting 1-3 Section 2: Basic Accounting Statements 1-27 Section 3: Recording Financial Transactions 1-51 Section 4: Cash Accounting vs. Accrual Accounting 1-59 Section 5: Accounting and Economic Costs 1-75 Section 6: Budgeting and Budgeting Sample Health Care Financial Statements Sample Tasks and Answers Worked Examples Answers to Worked Examples Module 2: Introduction to Health Economics 1-2 Part 1: Financing health care in Australia 2-3 Part 2: Important economic concepts 2-29 Part 3: The market system 49-22 Part 4: Distinctive economic characteristics of health 65-22 Part 5: Demand and supply Health services 2-85 Section 6: Asset-based budgeting 2-97 UNSW School of Public Health o and Community Medicine i

4 Course Summary Welcome Welcome to the Health Care Economics and Financial Management Course. In this course, you will learn about many accounting principles, processes and procedures and their general application in the healthcare system. In addition, we will explore some key concepts in health economics, such as what is meant by efficient allocation of resources and why the Australian government and most other governments in the world play such a dominant role in providing and financing health care. This course is presented in two modules. Module 1 of financial management is taught in the first semester and module 2 of health economics is taught in the second half of the semester. Together, these modules provide you with the core skills to make health management decisions related to budgets and resources. They also help you understand the economic principles and techniques that influence decision-making and government policies in the healthcare industry. The main objective in the Financial Management module is to help you develop a solid working knowledge of basic financial statements as well as an understanding of budgets for managerial decision-making and control in healthcare management. The second module, health economics, aims to introduce you to the economic way of thinking. You will learn many economic concepts and how they apply to real situations in the healthcare industry. In both modules, the emphasis is on understanding how finance and economics are used in everyday decision-making, so a practical, hands-on approach will be taken. Similarly, assessments will be practical rather than theoretical. Course Staff Course Editor Kevin Ford Ph: (02) [email protected] About me I have lectured at the University of New South Wales on health economics and health care financial management for over 15 years. In addition to my academic career, I have been an analyst at a stockbroker, a fund manager at an insurance company, editor of Australian Practice Management, a monthly magazine for doctors on the business side of medical practice management, and a company editor. Manager, the official magazine of the Australian Institute of Company Directors. UNSW School of Public Health and Social Medicine 1

Healthcare Finance Business Finance 7750 Course Syllabus

5 PHCM9441 Health Care Economics and Financial Management I have co-authored Microeconomics: An Introduction for Australian Students and written five books on investing, including: You Only Profit When You Sell (I wish in 2007 I had used my own advice!) successfully buying stocks, and understanding personal investments and finance. My research interests in health care include the impact of private health insurance on the demand for health services and the business aspects of implementing medical practices. Course Information This course is a core course of the Master of Health Services program, which includes six credit units for the total number of units required to complete the master’s program. There are no prerequisites for this course. This course is divided into two parts: 1. The first module, Financial Management, consists of six parts. In this part of the course, you will be introduced to many accounting principles, processes and procedures and their general application in the healthcare system. The main objective of the Financial Management module is to help you develop a working knowledge of basic accounting practices as well as an understanding of budgeting for managerial decision making and control in the healthcare industry. You will get to know the concepts of cost and different budgeting methods so that you can better understand the financial structure of your work environment. 2. The second module, health economics, is an introduction to this department and consists of six sections. Section 1 outlines the current funding arrangements for health care in Australia and highlights the importance of the total amount spent on health care. Sections 2 and 3 describe the methods and tools used by economists to illustrate economic relationships, especially as they relate to health care. How a market system allocates resources to health care is explored in Section 3. Section 4 discusses some of the distinctive features of health care as a means of explaining why the government is so heavily involved in this area of ​​the economy. Section 5 then looks at specific factors that influence the demand and supply of health services both now and in the future. Finally, Section 6 examines the structure and impact of private and public health insurance on health care and delivery. There are also glossaries of terms found in the course material that summarize and define many of the concepts used in the lecture notes. 2 UNSW School of Public Health and Social Medicine

6 Course Outline Course Objectives The objective of this course is to provide core competencies to understand and apply financial concepts and techniques as well as the principles and tools of health economics to inform your decision-making as a health administrator. In Module 1 the aim is to introduce you to basic accounting methods that you can apply in the context of health services, and to equip you with practical skills that will help you become a better health care manager. In module 2, the aim is to introduce you to the theoretical issues and perspectives of health economics and enable you to relate these concepts and approaches to yourself.

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