Financial Management in Health Care Organizations

COURSE OBJECTIVE
In the Netherlands more than 15 percent of the Gross Domestic Product (GDP) is spent on health care. Based on the long-term trends that are visible in healthcare, such as the aging population, comorbidity, individualization, self-direction and the unlimited availability of information, it is clear that the expenditure on health care will continue the coming years. The government is looking for measures to control this. In order to operate efficiently, health care managers knowledge of the playing field in which health care organizations are essential to make a good translation for the internal control on the basis of management information. The course Financial Management for Healthcare Organizations is part of the minor Health care management and provides students tools and instruments which are essential for the financial management of health care organizations such as hospitals, health insurers and primary care organizations.

At the end of this course students have developed knowledge and competences in different fields of financial management in the health care:

• Students are able to discuss the role of financial management in health care organizations (Academic skills);
• Students can explain how developments in health care affect cost of health care organizations (Academic skills);
• Students have knowledge of the different costing systems and are able to apply these costing systems in a health care context (Link with practice);
• Students are able to develop budget systems and are able to evaluate the effectiveness of budgeting (Link with practice);
• Students are able to explain the specific characteristics and additional requirements of financial reporting for health care organizations (Knowledge);
• Students are able to calculate and analyze financial ratios of health care organizations (Knowledge);
• Students understand the meaning of the governance codes for health care organizations and the quality of care these organizations deliver (Knowledge).

COURSE CONTENT
This course is relevant for SBE students who want to apply financial accounting, management accounting and management control knowledge in healthcare organizations. The course will also provide medicine students, earth & life science students and social sciences students who are going to work as clinicians or health care managers relevant financial management tools and instruments to deal with health care organization topics. More specifically, this course pays particular attention on the usefulness of management accounting information, management control systems and financial accounting information to support considered decisions in order to manage economically healthy businesses in the healthcare sector.

TEACHING METHODS
Lectures.
Tutorials (with cases).

TYPE OF ASSESSMENT
Group assessments weekly cases (grades for case solutions as well as case presentation) Multidisciplinary case assessment (grade for case solution as well as individual presentation)