Financial Management and Accounting for Healthcare Business
Published 10/2024
MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz, 2 Ch
Language: English | Duration: 11h 57m | Size: 2.58 GB
Master the financial strategies and accounting principles needed to thrive in the dynamic healthcare sector.
What you'll learn
Understand Accounting Functions: Learn the core accounting functions and principles applied within healthcare organizations, focusing on accuracy.
Gain Knowledge of Accounting Concepts: Study essential accounting concepts and conventions, such as accrual accounting, revenue recognition.
Master Profit & Loss Statements: Understand the structure and significance of the Profit and Loss (P&L) account in healthcare businesses.
Explore Financial Management: Gain insights into financial management fundamentals, including resource allocation, investment strategies.
Learn Cost Accounting Techniques: Study cost accounting principles, such as tracking direct and indirect costs, cost centers, and the time value of money.
Delve into Strategic Planning: Learn to develop strategic financial plans that align with healthcare goals, balancing profitability with quality care.
Apply Break-Even and Marginal Cost Analysis: Understand how to use break-even analysis to evaluate the financial viability of new services.
Gain Expertise in Budgeting: Learn how to create and manage budgets in healthcare, focusing on both operational and capital budgeting to costs.
Conduct Ratio and Financial Performance Analysis: Develop the skills to analyze key financial ratios to assess liquidity, profitability.
Understand Auditing in Healthcare: Learn the auditing process, including internal and external audits, and their role in maintaining transparency.
Master Financial Management Techniques: Grasp the essential duties of a finance manager in healthcare, such as overseeing financial operations, forecasting.
Explore Future Trends in Healthcare Finance: Gain an understanding of emerging trends in healthcare finance, including the integration of technology.
Requirements
Basic Knowledge of Accounting: Familiarity with fundamental accounting principles, such as understanding financial statements (balance sheet, income statement, and cash flow) and basic concepts like assets, liabilities, and equity.
Basic Understanding of Financial Concepts: An understanding of core financial terms, including budgeting, revenue, expenses, and profit, will be beneficial.
Interest in Healthcare Sector: A keen interest in healthcare management and financial operations within healthcare organizations (hospitals, clinics, pharmaceutical companies, etc.).
Basic Microsoft Excel Skills: Proficiency in Excel or similar spreadsheet software for analyzing financial data, preparing reports, and performing financial calculations such as ratio analysis and break-even analysis.
Analytical Thinking: Ability to analyze and interpret financial data to make informed decisions, as well as an interest in cost management, profitability, and financial sustainability within the healthcare industry.
