Healthcare Financial Management Fundamentals from Coursera

This course is the continuation of "Intro to Finance in Healthcare." If you have not yet taken the introductory course, it is recommended that you complete that course prior to this course. The foundational knowledge is carried through in this deeper dive into financial management in healthcare.

In this course, you will continue to explore concepts and topics related to accounting and finance basics for healthcare organizations. You will learn how to read, interpret, and use a financial statement in order to understand the financial health of an organization. You will explore long-term financing and learn about the types of debt available to healthcare organizations. You will also be introduced to financial planning and analysis and how to best assess the financial performance of a company.

You will be asked to put yourself in the position of a financial officer within a healthcare organization as you explore the complexities and challenges healthcare organizations face when managing healthcare financial decisions. Throughout this course, you will be given the opportunity to evaluate your understanding through engagement in a course project, discussions, and through completion of content quizzes along the way.

What's inside

Syllabus

Assets, Liabilities, and Equity

Understanding the balance sheet is an essential aspect of analyzing a business's financial health. In this module, we will explore the basics of the balance sheet, including assets, liabilities, and equity. In this module we will learn more about this crucial financial statement and gain a deeper understanding of how it can give us valuable information about a company's financial standing.

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Teaches healthcare financial management, which is vital for professionals in the field

Develops a strong understanding of financial statements, their analysis, and their use in assessing financial health

Led by instructors with expertise in healthcare finance

Follows a logical progression from foundational concepts to advanced topics

Requires completion of an introductory course, which may limit accessibility

Assumes some prior knowledge of accounting and finance basics

Reviews summary

Healthcare financial management: practical deep dive

According to students, this course is a highly relevant and comprehensive deep dive into healthcare financial management. Learners praise its ability to provide real-world applicability, especially for professionals in the field, making complex topics like financial statement analysis, long-term financing, and FP&A easy to digest. Many find the course project invaluable for applying knowledge. However, a few learners noted that the pace can be dense or that the course assumes a strong prior finance background, suggesting a significant jump from the introductory course for some.

The course project offers a strong opportunity to apply concepts.

"The course project was a great way to apply what I learned."

"The emphasis on real-world scenarios through the project was particularly insightful."

"I appreciate the practical exercises and case studies which helped solidify my understanding."

Complex financial concepts are explained clearly and logically.

"The explanations of balance sheets and FP&A were crystal clear, making complex topics easy to digest."

"The instructor's explanations were generally clear, especially on the intricacies of debt financing for healthcare providers."

"The concepts, while complex, were explained in an accessible manner. It genuinely helped me understand financial health metrics."

Provides highly relevant, real-world tools for healthcare finance roles.

"The content is incredibly relevant to real-world healthcare finance challenges. Definitely a must-have for anyone serious about healthcare finance."

"It's very comprehensive for a 'fundamentals' course. The discussion of payer contracting strategy... providing practical insights."

"The course is directly applicable to my role. The modules flow logically, and the way they break down complex financial statements is brilliant."

Content is comprehensive but can feel rushed at times.

"My only minor critique is that sometimes the pace felt a bit rushed in certain sections, but nothing I couldn't handle with a quick rewatch."

"The content is quite dense, so I found I had to dedicate considerable time to fully grasp it."

"It felt a bit rushed towards the end, and I wished there were more opportunities for direct interaction or Q&A."

Requires a solid finance foundation; challenging for those new to the field.

"Found this course quite challenging without a strong prior finance background. While the description says 'continuation of Intro to Finance,' I felt the jump was significant."

"This course was not for me. I struggled significantly with the pace and the assumed prior knowledge. It felt like it was designed for people already in finance..."

"I think the difficulty curve is quite steep if I'm not already comfortable with basic finance terms. I recommend reviewing the pre-req material thoroughly."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Healthcare Financial Management Fundamentals with these activities:

Read "Healthcare Financial Management" by William Cleverly

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Gain a deeper understanding of the financial management of healthcare organizations through this comprehensive book.

View Essentials of Health Care Finance on Amazon

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Read the book and take notes.
Summarize the key points in the book.

Create a glossary of financial terms

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Build your vocabulary and understanding by creating a glossary of financial terms you encounter in the course.

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Identify financial terms you do not know.
Look up the definitions of the terms.
Create a glossary with the terms and their definitions.

Review key concepts

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Review key accounting and finance concepts to strengthen your foundation for the course.

Browse courses on Assets

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Review the basic concepts of accounting.
Go through the different financial statements and their components.
Understand the key ratios used in financial analysis.

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Practice reading financial statements

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Enhance your ability to interpret financial statements by following guided tutorials.

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Find tutorials on financial statement analysis.
Follow the steps to analyze a balance sheet and income statement.

Join a study group

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Connect with other students to discuss the course material and reinforce your understanding.

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Find a study group or start your own.
Meet regularly to discuss the course material.

Solve financial analysis problems

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Develop your problem-solving skills by practicing financial analysis problems.

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Find practice problems online or in textbooks.
Solve the problems and check your answers.

Create a financial plan

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Apply your understanding of financial planning by creating a plan for a healthcare organization.

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Gather data on the organization's financial performance.
Analyze the data to identify areas of improvement.
Develop a plan to address the areas of improvement.
Present your plan to the organization's management team.

Write a blog post on a healthcare financial topic

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Enhance your understanding and communication skills by writing a blog post on a healthcare financial topic.

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Choose a healthcare financial topic to write about.
Research the topic and gather information.
Write a blog post that is informative and engaging.
Publish your blog post on a platform like Medium or LinkedIn.

Career center

Learners who complete Healthcare Financial Management Fundamentals will develop knowledge and skills that may be useful to these careers:

Financial Analyst

Financial analysts are responsible for evaluating the financial health of companies and making recommendations on investments. This course would provide you with the foundational knowledge of financial statements including the balance sheet, income statement, and statement of cash flows. In addition, understanding the techniques used for financial condition analysis would be particularly relevant to the role of a financial analyst.

See salaries and explore the career path for Financial Analyst

Financial Manager

Financial managers are responsible for overseeing the financial operations of an organization. This course can help build a foundation for financial management by providing you with a solid understanding of financial planning, budgeting, and analysis. Additionally, this course may also provide insight on key topics such as long-term financing and the cost of capital.

See salaries and explore the career path for Financial Manager

Investment Analyst

Investment analysts are responsible for evaluating the potential of different investments. This course would provide you with the foundational knowledge of financial statements and how to analyze them to make sound investment decisions. Additionally, the course's exploration of long-term financing and the cost of capital would be particularly useful for investment analysts.

See salaries and explore the career path for Investment Analyst

Healthcare Consultant

Healthcare consultants work with healthcare organizations to improve their financial performance. This course can help build a foundation for healthcare consulting by providing you with a solid understanding of the financial challenges faced by healthcare organizations including financial planning, budgeting, and analysis. Additionally, this course may also provide insight on key topics such as long-term financing and the cost of capital, both of which are particularly relevant to healthcare.

See salaries and explore the career path for Healthcare Consultant

Healthcare Executive

Healthcare executives are responsible for overseeing the operations of healthcare organizations. This course can help build a foundation for healthcare management by providing you with a solid understanding of the financial challenges faced by healthcare organizations including financial planning, budgeting, and analysis. Additionally, this course may also provide insight on key topics such as long-term financing and the cost of capital, both of which are particularly relevant to healthcare.

See salaries and explore the career path for Healthcare Executive

Auditor

Auditors are responsible for examining an organization's financial statements to ensure accuracy and compliance. This course would provide you with a foundational understanding of financial statements including the balance sheet, income statement, and statement of cash flows. In addition, understanding the techniques used for financial condition analysis would be particularly relevant to the role of an auditor.

See salaries and explore the career path for Auditor

Budget Analyst

Budget analysts are responsible for developing and managing budgets for organizations. This course can help build a foundation for budget analysis by providing you with a solid understanding of financial planning, budgeting, and analysis. Additionally, this course may also provide insight on key topics such as long-term financing and the cost of capital.

See salaries and explore the career path for Budget Analyst

Credit Analyst

Credit analysts are responsible for evaluating the creditworthiness of borrowers. This course would provide you with a foundational understanding of financial statements including the balance sheet, income statement, and statement of cash flows. In addition, understanding the techniques used for financial condition analysis would be particularly relevant to the role of a credit analyst.

See salaries and explore the career path for Credit Analyst

Financial Planner

Financial planners help individuals and families manage their finances. You can get a better understanding of financial planning concepts such as budgeting, saving, and investing from this course. With this course's focus on topics like FP&A, financial condition, and long-term financing, you will be able to develop strong analytical skills which are essential for success in financial planning.

See salaries and explore the career path for Financial Planner

Risk Manager

Risk managers are responsible for identifying and mitigating risks for organizations. This course can help build a foundation for risk management by providing you with a solid understanding of financial risk analysis and management. Additionally, this course may also provide insight on key topics such as long-term financing and the cost of capital.

See salaries and explore the career path for Risk Manager

Healthcare Financial Analyst

Healthcare financial analysts are responsible for analyzing the financial performance of healthcare organizations. This course would provide you with a foundational understanding of financial statements and how to analyze them to make sound investment decisions. Additionally, the course's exploration of long-term financing and the cost of capital would be particularly useful for healthcare financial analysts.

See salaries and explore the career path for Healthcare Financial Analyst

Insurance Underwriter

Insurance underwriters are responsible for evaluating the risk of insurance policies. This course would provide you with a foundational understanding of financial statements and how to analyze them to make sound underwriting decisions. Additionally, the course's exploration of long-term financing and the cost of capital would be particularly useful for insurance underwriters.

See salaries and explore the career path for Insurance Underwriter

Quantitative Analyst

Quantitative analysts are responsible for developing and using mathematical and statistical models to analyze financial data. This course can help build a foundation for quantitative analysis by providing you with a solid understanding of financial statement analysis and modeling. Additionally, this course may also provide insight on key topics such as long-term financing and the cost of capital.

See salaries and explore the career path for Quantitative Analyst

Tax Accountant

Tax accountants are responsible for preparing and filing tax returns for individuals and businesses. This course would provide you with a foundational understanding of financial statements including the balance sheet, income statement, and statement of cash flows. In addition, understanding the techniques used for financial condition analysis would be particularly relevant to the role of a tax accountant.

See salaries and explore the career path for Tax Accountant

Actuary

Actuaries are responsible for assessing the financial risks associated with insurance policies. This course would provide you with a foundational understanding of financial statements and how to analyze them to evaluate financial risk. Additionally, the course's exploration of long-term financing and the cost of capital would be particularly useful for actuaries.

See salaries and explore the career path for Actuary