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Continuing Education

 

Contact Steven Berger

To receive more information about Healthcare Insights' professional training services, including fees and scheduling, contact Steven Berger:

Tel: (847) 362-1244

Email: sberger@hcillc.com

 

Success Stories

Financial executives at dozens of leading hospitals and healthcare organizations have experienced dramatic success with INSIGHTS.

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Hospital Financial Management for the Non-Financial Manager: Tips and Techniques to Ensure Your Success

 

Course Description

In the first years of the 21st Century, clinical and operational managers must possess a solid understanding of the business side of the hospital and health system for which they work. Significant changes in payment systems (managed care organizations) and payment rates (reductions in Medicare and Managed Care) have created a much greater need for clinical managers to assist their executives in producing "bottom line" results. This systematic and comprehensive approach of this seminar brings into focus variables that impact directly on profitability, such as financial analysis, accounting and budgeting cycles (operating and capital assets), working capital, cash flow and productivity management. It will allow you to communicate confidently with others using financial data, thereby enhancing your professional development career as a manager. Detailed class outline and objectives are described below.

 

Learning Objectives of the Class

 

  • Understanding the differences between department manager's views of the organization versus that of the Administration, thus allowing the manager to work with their bosses on the same level plane;
  • Learning to speak the specialized language of your organization's chief financial officer, thereby improving your chances of obtaining scarce organizational financial resources for your department;
  • Acquiring practical insights into crucial financial elements and ratio measurements used by the Administration in formulating policy during the operating and capital budgeting cycles;
  • Reviewing the financial elements and methodologies needed to maximize the clinical department's success in the annual operating and capital budgeting cycles;
  • Isolating those revenues and expenses in your department that are most critical to its success;
  • Understanding the various elements of costing and their importance to the financial health of the organization;
  • Using cost management techniques such as productivity measures and formularies to explain and improve various salary and non-salary expenses.

 

Who Should Attend

All middle and upper level non-financial department managers will benefit from this operational level seminar. There are no prerequisites for this two-day class.

 

Continuing Professional Education (CPE) Information

This two-day course qualifies for 14 hours of CPE Credits. The presenter is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Nashville, TN, 37219-2417. Telephone 615-880-4200.

 

Administrative Policies

This on-site course is offered by contract. Once signed, a 30-day notification prior to the course date is required in order to cancel the contract without penalty.

 

Class Outline and Objectives:

Objectives of "Department Manager Versus Administrator's View of the Organization" Section:

 

  • To understand the importance and be able to recite reasons to pay attention to the finance function in healthcare
  • To review the basics of healthcare accounting and finance
  • To gain an understanding of the reports and information that the administrator is looking at
  • To determine what the department manager is looking at, and
  • To differentiate the two perspectives, and understand the difference between the whole and the sum of the parts.

 

Objectives of "Key elements of departmental financial analysis" Section:

 

  • To review the typical financial flow in a hospital
  • To analyze the elements of departmental finances that have the greatest impact on departmental financial performance
  • To differentiate between departmental and administrative reports
  • To perform a class exercise to determine reports that would allow the department manager to do a better job

 

Objectives of the "Steps in the Creation of the Hospital-wide Operating and Capital Budgets" Section:

 

  • To determine the importance of preparing the budgets
  • To review, in detail, the steps in the budget process, and
  • How these steps determine the allocation of budget dollars across the organization for operating, and capital budgets
  • To analyze the questions that need to be asked in the operating and capital budgets

 

Objectives of the "Critical Concepts in the Development of the Departmental Operating and Capital Budgets" Section:

 

  • To determine how your department fits into the Hospital-wide operating and capital budget process
  • To understand how to develop a department-wide strategic plan
  • To review detailed steps in preparing the departmental operating budget
  • To determine how to use the budget throughout the actual year to enhance the bottom line
  • To analyze hints for improving acceptance of capital budget requests

 

Objectives of the "Identifying Various Cost Elements Using Cost Accounting Techniques" Section:

 

  • To understand why cost accounting is important for financial analysis
  • To review all the financial elements of cost accounting
  • To develop all the cost elements at the procedure charge code level, using a case model and reviewing its inputs, throughputs and outputs
  • To analyze a cost accounting output report and determine how we could use it to improve department operations

 

Objectives of the "How to Price Services Using Cost Accounting Models" Section:

 

  • To determine the value of appropriately pricing services and how to use cost data to do so
  • To review the common methods for pricing services and determine which one, if any, are better
  • Detailed costing with allocation of overhead costs
  • Generalized costing with allocation of overhead costs

 

Objectives of the "How to Reduce Labor Costs Using Productivity Models and Measures" Section:

 

  • To determine the major components of labor costs
  • Using sample reports and examples, we will
  • Analyze the specific components that determine staff productivity and their importance in reducing labor costs
  • Review the part played by productivity measures and standards in determining overall staff productivity
  • How we can use variance analysis to make current staffing decisions

 

Objectives of the "Reducing Major Non-Salary Expenses Using Cost Management Techniques" Section:

 

  • To present the reasons why there is a great need and opportunity to reduce non-salary expenses
  • To expose the need to manage for increased accountability in the hospital setting
  • To specifically identify areas of opportunity for rational expense reductions