Introduction to Healthcare Finance from Coursera

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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.

Modeling Time, Risk, and Return to Value Investments

This week we will introduce financial valuation techniques. We will begin by describing the roles of financial risk and the opportunity cost of time. These concepts are essential for valuing investments. We will focus on two specific techniques, net present value and the internal rate of return. These techniques are fundamental to corporate finance. With slight modifications, they can be used to solve a massive number of healthcare problems.

Measuring The Cost of Pharmaceutical Research & Development (R&D)

The cost of pharmaceutical Research & Development (R&D) is, arguably, the most controversial topic in healthcare finance and economics. We focus our discussion on DiMasi and colleagues’ 2016 study of pharmaceutical R&D costs. This is, essentially, an application of our discounted cash flow techniques. In addition to applying financial techniques, this example illustrates common challenges of deciding which cash flows are relevant and what is the right cost of capital.

Financial Models of Mergers and Acquisitions (M&A)

This week examines healthcare mergers and acquisitions. This is especially important given the massive and ongoing consolidation in the U.S. healthcare market. We will discuss merger motivations and their consequences for the cost and quality of healthcare. We will also examine valuation techniques for mergers. The process is, at one level, a straightforward financial model solved with discounted cash flow techniques. But we also demonstrate how these models serve as tools for strategic decision making and bargaining.

Good to know

Know what's good

, what to watch for

, 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

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

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Review and practice discounted cash flow models to strengthen your foundational understanding of financial valuation.

Browse courses on Time Value of Money

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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

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Review basic healthcare finance concepts to strengthen your foundation for the course.

Browse courses on Healthcare Finance

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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

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Organize your course materials to make them easier to find and review.

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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.

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Find a healthcare finance mentor

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Find a mentor who can provide guidance and support throughout the course.

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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

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Engage in mock negotiation scenarios to enhance your ability to effectively negotiate healthcare pricing.

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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

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Practice solving financial valuation problems to improve your understanding of these techniques.

Browse courses on Financial Valuation

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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

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Watch tutorials to learn more about healthcare mergers and acquisitions.

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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

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Attend industry events to network with professionals and learn about the latest trends.

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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

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Apply the principles of healthcare finance to develop a comprehensive investment proposal for a healthcare organization.

Browse courses on Financial Analysis

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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

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Create a presentation to demonstrate your understanding of healthcare pricing strategies.

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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 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.

See salaries and explore the career path for Healthcare Administrator

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.

See salaries and explore the career path for Research 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.

See salaries and explore the career path for Financial Analyst

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.

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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.

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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.

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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.

See salaries and explore the career path for Private Equity Associate

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.

See salaries and explore the career path for Pharmaceutical Sales Representative

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.

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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.

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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.

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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.

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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.

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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.

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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.

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Introduction to Healthcare Finance

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