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Jeffrey McCullough
Introduction to Healthcare Finance equips healthcare leaders with fundamental finance tools and concepts necessary for effective collaboration with experts and managing organizations. In this course, you’ll explore healthcare pricing, investment valuation, and pharmaceutical research and development costing. You will consider the motivation, consequences, and valuation techniques essential to helping you make strategic decisions and engage in effective bargaining in healthcare mergers and acquisitions. Get an inside look at the variations and complexities of healthcare pricing, trade-offs between financial risk and performance incentives, and the bargaining processes vital to pricing strategies and organizational viability. Financial valuation techniques, such as net present value and internal rate of return, are explored alongside financial risk considerations and opportunity costs.
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What's inside
Syllabus
An Introduction to Healthcare Pricing
We introduce healthcare pricing this week. This is one of the most complex and important topics in healthcare. This week has four objectives. First, we introduce the variation and complexity of healthcare data. Second, we explore the bargaining process that drives pricing strategy and organization’s viability. Finally, we will discuss the role of government policies for healthcare pricing . Examples will focus on relationships between insurance and provider organizations, but the same concepts appear throughout the healthcare industry.
Read more
Syllabus
An Introduction to Healthcare Pricing
We introduce healthcare pricing this week. This is one of the most complex and important topics in healthcare. This week has four objectives. First, we introduce the variation and complexity of healthcare data. Second, we explore the bargaining process that drives pricing strategy and organization’s viability. Finally, we will discuss the role of government policies for healthcare pricing . Examples will focus on relationships between insurance and provider organizations, but the same concepts appear throughout the healthcare industry.
Read more
Traffic lights
Traffic lights
Read about what's good
what should give you pause and
possible dealbreakers
Examines healthcare mergers and acquisitions, which are highly relevant to the ongoing consolidation in the U.S. healthcare market
Introduces healthcare pricing, which is one of the most complex and important topics in healthcare
Taught by Jeffrey McCullough, who is recognized for their work in healthcare finance
Helps learners develop financial modeling skills, which are in high demand in healthcare
Requires that learners come in with some background knowledge in finance
Provides a case study example of pharmaceutical research and development, which is a controversial topic
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Reviews summary
Essential healthcare finance fundamentals
According to students, this course provides a strong foundational overview of healthcare finance, covering critical areas like healthcare pricing, investment valuation, and mergers & acquisitions. Learners praise its clear and concise explanations of complex financial concepts, making it highly accessible for those new to the subject. The curriculum offers directly applicable tools and strategies essential for healthcare leaders. While it excels as an introduction, some note that its depth may be more suited for beginners, and the examples tend to focus on the U.S. healthcare market.
Course examples lean towards the U.S. healthcare system.
"The pricing and M&A examples primarily highlight dynamics within the U.S. healthcare market."
"While the underlying financial principles are universal, I would have liked more global or diverse country examples."
"I felt some of the content was specific to the American healthcare regulatory and market environment."
Designed for beginners, less suited for advanced practitioners.
"As someone new to finance, I found this course perfect, but experienced professionals might seek more advanced depth."
"I wish there were more in-depth case studies or advanced exercises to apply the concepts further."
"While comprehensive for an introduction, I recognize the need for supplementary material for deeper dives into specific topics."
Complex financial topics are presented clearly and concisely.
"I found the explanations of financial valuation techniques surprisingly easy to follow, even as a non-finance person."
"The content flow made learning about complex healthcare pricing very straightforward and engaging."
"The instructor effectively demystifies intricate finance terminology, making it accessible to a wider audience."
Provides practical tools relevant for strategic decisions.
"I can immediately apply the financial models for M&A to real-world healthcare scenarios and decision-making."
"The discussions on financial risk and opportunity costs are crucial for my current leadership role."
"This course equipped me with tangible skills for effective healthcare management and bargaining."
Offers essential financial concepts for healthcare leaders.
"I gained a solid grasp of healthcare finance basics, especially pricing strategies and their complexities."
"This course provided me with key valuation tools such as Net Present Value and Internal Rate of Return."
"The overview of pharmaceutical R&D costs was particularly insightful for understanding industry economics."
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 Introduction to Healthcare Finance with these
activities:
Revisit discounted cash flow (DCF) models
Show steps
Review and practice discounted cash flow models to strengthen your foundational understanding of financial valuation.
Browse courses on
Time Value of Money
Show steps
-
Review the concept and formula of DCF
-
Practice calculating the present value of future cash flows
-
Analyze the impact of different discount rates on the present value
-
Apply DCF models to real-world investment scenarios
Review healthcare finance concepts
Show steps
Review basic healthcare finance concepts to strengthen your foundation for the course.
Browse courses on
Healthcare Finance
Show steps
-
Review notes and textbooks from previous healthcare finance courses.
-
Complete practice problems and quizzes on healthcare finance topics.
-
Attend a refresher workshop or seminar on healthcare finance.
Organize course materials
Show steps
Organize your course materials to make them easier to find and review.
Show steps
-
Create a filing system for your notes, assignments, and other materials.
-
Use a note-taking app or software to keep your notes organized.
-
Create a study schedule and stick to it.
Seven other activities
Expand to see all activities and additional details
Show all ten activities
Find a healthcare finance mentor
Show steps
Find a mentor who can provide guidance and support throughout the course.
Show steps
-
Attend industry events and networking opportunities.
-
Reach out to healthcare finance professionals on LinkedIn.
-
Ask your professors or colleagues for recommendations.
Practice healthcare pricing negotiation scenarios
Show steps
Engage in mock negotiation scenarios to enhance your ability to effectively negotiate healthcare pricing.
Show steps
-
Identify common negotiation strategies and tactics
-
Prepare for negotiations by gathering data and understanding your BATNA
-
Practice role-playing negotiation scenarios with peers
-
Reflect on your performance and identify areas for improvement
Solve financial valuation problems
Show steps
Practice solving financial valuation problems to improve your understanding of these techniques.
Browse courses on
Financial Valuation
Show steps
-
Find practice problems online or in textbooks on financial valuation.
-
Solve the problems using the net present value and internal rate of return methods.
-
Compare your answers to the provided solutions.
Watch tutorials on healthcare mergers and acquisitions
Show steps
Watch tutorials to learn more about healthcare mergers and acquisitions.
Show steps
-
Find tutorials on YouTube or other online platforms.
-
Watch the tutorials and take notes on the key concepts.
-
Discuss the tutorials with your classmates or mentor.
Attend healthcare finance industry events
Show steps
Attend industry events to network with professionals and learn about the latest trends.
Show steps
-
Find healthcare finance events in your area.
-
Register for the events and attend them.
-
Network with other attendees and learn about their experiences.
Develop a healthcare investment proposal
Show steps
Apply the principles of healthcare finance to develop a comprehensive investment proposal for a healthcare organization.
Browse courses on
Financial Analysis
Show steps
-
Identify a healthcare investment opportunity
-
Conduct thorough financial analysis to evaluate the investment
-
Develop a detailed investment proposal outlining the rationale, financial projections, and potential risks
-
Present your proposal to a mock investment committee
Create a presentation on healthcare pricing strategies
Show steps
Create a presentation to demonstrate your understanding of healthcare pricing strategies.
Show steps
-
Research different healthcare pricing strategies.
-
Develop a presentation that outlines the key concepts of each strategy.
-
Practice your presentation and get feedback from your classmates or mentor.
-
Deliver your presentation to the class.
Revisit discounted cash flow (DCF) models
Show steps
Review and practice discounted cash flow models to strengthen your foundational understanding of financial valuation.
Browse courses on
Time Value of Money
Show steps
Show steps
Show steps
- Review the concept and formula of DCF
- Practice calculating the present value of future cash flows
- Analyze the impact of different discount rates on the present value
- Apply DCF models to real-world investment scenarios
Review healthcare finance concepts
Show steps
Review basic healthcare finance concepts to strengthen your foundation for the course.
Browse courses on
Healthcare Finance
Show steps
Show steps
Show steps
- Review notes and textbooks from previous healthcare finance courses.
- Complete practice problems and quizzes on healthcare finance topics.
- Attend a refresher workshop or seminar on healthcare finance.
Organize course materials
Show steps
Organize your course materials to make them easier to find and review.
Show steps
Show steps
Show steps
- Create a filing system for your notes, assignments, and other materials.
- Use a note-taking app or software to keep your notes organized.
- Create a study schedule and stick to it.
Seven other activities
Expand to see all activities and additional details
Show all ten activities
Find a healthcare finance mentor
Show steps
Find a mentor who can provide guidance and support throughout the course.
Show steps
Show steps
Show steps
- Attend industry events and networking opportunities.
- Reach out to healthcare finance professionals on LinkedIn.
- Ask your professors or colleagues for recommendations.
Practice healthcare pricing negotiation scenarios
Show steps
Engage in mock negotiation scenarios to enhance your ability to effectively negotiate healthcare pricing.
Show steps
Show steps
Show steps
- Identify common negotiation strategies and tactics
- Prepare for negotiations by gathering data and understanding your BATNA
- Practice role-playing negotiation scenarios with peers
- Reflect on your performance and identify areas for improvement
Solve financial valuation problems
Show steps
Practice solving financial valuation problems to improve your understanding of these techniques.
Browse courses on
Financial Valuation
Show steps
Show steps
Show steps
- Find practice problems online or in textbooks on financial valuation.
- Solve the problems using the net present value and internal rate of return methods.
- Compare your answers to the provided solutions.
Watch tutorials on healthcare mergers and acquisitions
Show steps
Watch tutorials to learn more about healthcare mergers and acquisitions.
Show steps
Show steps
Show steps
- Find tutorials on YouTube or other online platforms.
- Watch the tutorials and take notes on the key concepts.
- Discuss the tutorials with your classmates or mentor.
Attend healthcare finance industry events
Show steps
Attend industry events to network with professionals and learn about the latest trends.
Show steps
Show steps
Show steps
- Find healthcare finance events in your area.
- Register for the events and attend them.
- Network with other attendees and learn about their experiences.
Develop a healthcare investment proposal
Show steps
Apply the principles of healthcare finance to develop a comprehensive investment proposal for a healthcare organization.
Browse courses on
Financial Analysis
Show steps
Show steps
Show steps
- Identify a healthcare investment opportunity
- Conduct thorough financial analysis to evaluate the investment
- Develop a detailed investment proposal outlining the rationale, financial projections, and potential risks
- Present your proposal to a mock investment committee
Create a presentation on healthcare pricing strategies
Show steps
Create a presentation to demonstrate your understanding of healthcare pricing strategies.
Show steps
Show steps
Show steps
- Research different healthcare pricing strategies.
- Develop a presentation that outlines the key concepts of each strategy.
- Practice your presentation and get feedback from your classmates or mentor.
- Deliver your presentation to the class.
Career center
Learners who complete Introduction to Healthcare Finance will develop knowledge and skills
that may be useful to these careers:
Healthcare Administrator
Healthcare Administrator
Healthcare administrators oversee the day-to-day operations of healthcare organizations. This course can help you develop the skills and knowledge needed to succeed as a healthcare administrator, including financial management, strategic planning, and operations management.
Research Analyst
Research Analyst
Research analysts provide investment advice to businesses and individuals. This course can help you develop the skills and knowledge needed to succeed as a research analyst, including financial modeling, valuation, and investment analysis.
Financial Analyst
Financial Analyst
Financial analysts provide financial advice to businesses and individuals. This course can help you develop the skills and knowledge needed to succeed as a financial analyst, including financial modeling, valuation, and investment analysis.
Consultant
Consultant
Consultants provide expert advice to businesses and organizations on a wide range of topics, including healthcare finance. This course can help you develop the skills and knowledge needed to succeed as a consultant, including financial analysis, strategic planning, and communication.
Private Equity Associate
Private Equity Associate
Private equity associates invest in private companies. This course can help you develop the skills and knowledge needed to succeed as a private equity associate, including financial modeling, valuation, and deal structuring.
Investment Banker
Investment Banker
Investment bankers help companies raise capital and execute mergers and acquisitions. This course can help you develop the skills and knowledge needed to succeed as an investment banker, including financial modeling, valuation, and deal structuring.
Venture Capitalist
Venture Capitalist
Venture capitalists invest in early-stage companies. This course can help you develop the skills and knowledge needed to succeed as a venture capitalist, including financial modeling, valuation, and deal structuring.
Pharmaceutical Sales Representative
Pharmaceutical Sales Representative
Pharmaceutical sales representatives sell prescription drugs to physicians and other healthcare providers. This course can help you develop the skills and knowledge needed to succeed as a pharmaceutical sales representative, including product knowledge, sales techniques, and negotiation.
Product Manager
Product Manager
Product managers develop and market new products. This course can help you develop the skills and knowledge needed to succeed as a product manager, including market research, product development, and pricing.
Insurance Underwriter
Insurance Underwriter
Insurance underwriters evaluate risk and set insurance rates. This course may help you develop the skills and knowledge needed to succeed as an insurance underwriter, including risk assessment, underwriting principles, and insurance products.
Actuary
Actuary
Actuaries use mathematics and statistics to assess risk. This course may help you develop the skills and knowledge needed to succeed as an actuary, including financial modeling, data analysis, and risk management.
Financial Planner
Financial Planner
Financial planners help individuals and families plan for their financial future. This course may help you develop the skills and knowledge needed to succeed as a financial planner, including financial planning, investment management, and retirement planning.
Auditor
Auditor
Auditors examine financial records to ensure accuracy and compliance. This course may help you develop the skills and knowledge needed to succeed as an auditor, including financial accounting, auditing procedures, and risk assessment.
Compliance Officer
Compliance Officer
Compliance officers ensure that companies comply with laws and regulations. This course may help you develop the skills and knowledge needed to succeed as a compliance officer, including regulatory compliance, risk management, and internal controls.
Economist
Economist
Economists study the economy and make recommendations on economic policy. This course may help you develop the skills and knowledge needed to succeed as an economist, including economic modeling, data analysis, and forecasting.
For more career information including salaries, visit:
OpenCourser.com/course/8f6oik/introduction
Reading list
We've selected seven books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Introduction to Healthcare Finance.
Provides a comprehensive overview of healthcare financial management, including topics such as healthcare pricing, investment valuation, and pharmaceutical research and development costing.
Provides learners with foundational knowledge in healthcare finance and tools for making informed financial decisions. Particularly useful for those interested in healthcare management or policy.
Save
Provides a comprehensive understanding of corporate finance principles, including valuation techniques and risk management. Serves as a valuable reference for understanding financial concepts discussed in the course.
Comprehensive reference guide to healthcare finance, including topics such as healthcare insurance, healthcare regulation, and healthcare economics.
Provides a concise overview of healthcare finance for managers, including topics such as financial planning, budgeting, and investment analysis.
Offers a comprehensive analysis of the US healthcare system, covering its structure, financing, and delivery. Helps learners understand the context in which healthcare finance operates.
Provides a conceptual framework for healthcare finance, including topics such as the healthcare system, healthcare costs, and healthcare financing.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/8f6oik/introduction
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Rating
4.5
Effort
11 hours to complete
Level
Intermediate
Via
Coursera
Institution
University of Michigan
Instructor
Jeffrey McCullough
Language
English
This course belongs to a
collection
called
Healthcare Management and Finance. It's comprised of three courses:
- Introduction to Healthcare Finance (viewing)
- Introduction to Healthcare Management
- Introduction to Healthcare Accounting
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