About This Chapter
Healthcare Financial Management - Chapter Summary
When you utilize this chapter on healthcare financial management, you'll review lessons about subjects such as the goals of financial management, the healthcare revenue cycle and measurement tools used in healthcare finance. Work at your own pace and feel free to go back and review any of the lessons that need more work. Before you move on, take the short quiz included with each lesson or the test at the end of the chapter to make sure you're ready. Once you complete this chapter, you should be ready to:
- Detail the goals of financial management
- Define the healthcare revenue cycle and its steps
- Outline the purpose of responsibility-based A/R reporting in health
- Identify cash management in healthcare systems
- Explain financial supply chain management in healthcare
- Discuss the measurement tools and methods used in healthcare finance
- Understand the process of managing costs and revenues in healthcare organizations
1. What Are the Goals of Financial Management?
This lesson introduces the concept of financial management and defines the scope that companies use to manage their finances. It will also discuss the primary goal of financial management and the advantages and disadvantages of this goal.
2. What is Healthcare Revenue Cycle? - Definition & Steps
In this lesson, we'll define the healthcare revenue cycle. You'll also learn about the three main steps in the cycle: patient scheduling, registration and treatment, claims processing and payment collection.
3. Responsibility-Based A/R Reporting in Health: Definition & Purpose
An important part of any medical operation is managing the accounts receivable (AR). We will look at two powerful data tools that help responsible managers convert the receivables to cash.
4. Cash Management in Healthcare Systems
This lesson details the nature of cash management for healthcare organizations, including common practices to improve cash on hand and common tactics to synchronize cash flow to improve the financial position of the business.
5. Financial Supply Chain Management in Healthcare
Supply chain management involves many different aspects and departments of an organization. This lesson will discuss the challenges and processes of financial supply chain management in healthcare.
6. Measurement Tools & Methods Used in Healthcare Finance
Measurement tools in healthcare can show a variety of results. Different methods are used to determine patient outcomes and finances, which are intertwined. This lesson will discuss the measurement tools and methods used in healthcare finance.
7. Managing Costs & Revenues in Healthcare Organizations
This lesson explores some of the many ways by which healthcare organizations can help manage costs and revenues. You'll learn how health information technology and lean management can play a part in this.
8. Required Assignments Reminder
Sorry for the interruption to your course progress! We wanted to make sure you knew this course has a written assignment requirement in order to be completed. Read on to learn where to find these assignments and how to submit them.
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Other chapters within the Health 305: Healthcare Finance & Budgeting course
- Introduction to Healthcare Finance
- Organizational Structure in Healthcare
- Healthcare Organizations & Services
- Financial Reporting in Healthcare
- Health Insurance & Reimbursement
- Estimating Healthcare Costs
- Accounting & Income Statements in Healthcare
- Using Balance Sheets in Healthcare Finance
- Financial Assessment in Healthcare
- Healthcare Planning & Budgeting
- Project Costs & Evaluation in Healthcare
- Healthcare Staffing Needs & Forecasting
- Trends in Healthcare
- Required Assignment for Health 305