Northeastern University
Intro to Finance in Healthcare
Northeastern University

Intro to Finance in Healthcare

Taught in English

Course

Gain insight into a topic and learn the fundamentals

Patrick Holland

Instructor: Patrick Holland

Beginner level
No prior experience required
11 hours to complete
3 weeks at 3 hours a week
Flexible schedule
Learn at your own pace

What you'll learn

  • Demonstrate an ability to read and understand key data communicated in a company’s financial statements

  • Recognize the key elements that make up a balance sheet, income statement and statement of cash flows by recognizing revenue and expenses.

  • Develop knowledge of how budgets work with financial statements to create a fuller understanding of the financial condition of a company.

Details to know

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Assessments

22 quizzes

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There are 4 modules in this course

In this module, we will explore the complexity of the healthcare industry by learning about the various actors involved. The healthcare industry is diverse and made up of government, providers, health plans, employers, and the pharmaceutical industry. Understanding the role of each actor and the factors that drive the cost of healthcare is essential for patients, healthcare providers, and other stakeholders in the industry.

What's included

12 videos13 readings7 quizzes2 discussion prompts

Financial statements are crucial documents that are used to provide information about a company's financial performance and position. The 5 main financial statements are: Management Discussion & Analysis, Balance Sheet, Income Statement, Statement of Cash Flows, and Notes to financial statements. The financial statements are critical tools that provide valuable insights into a company's financial performance and position. In this module, we will explore these statements in greater detail and discuss the importance of these documents.

What's included

8 videos6 readings7 quizzes1 peer review

Healthcare providers play a crucial role in ensuring that patients receive quality care while also generating revenue. The healthcare industry is divided into three primary market segments - commercial, Medicare, and Medicaid - each with its own reimbursement rate. In this module, you will explore these market segments in closer detail. You will also compare various reimbursement models used to pay doctors and hospitals - including capitation.

What's included

5 videos2 readings4 quizzes1 discussion prompt

Expense management is also a critical component of the healthcare industry as expenses in an income statement represent the costs of doing business. These expenses must be closely monitored to ensure the financial stability of healthcare providers. In this module, you will review the major expense categories that are reported in the income statement and identify fixed and variable expenses. You will also explore depreciation expense, differentiate it from other expense line items, and reflect on its relationship to the balance sheet. Finally, you will contrast operating and non-operating income and the differences between net income and cash flow.

What's included

3 videos4 readings4 quizzes1 discussion prompt

Instructor

Patrick Holland
Northeastern University
3 Courses1,585 learners

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