Introduction

Effective financial management is the backbone of any successful healthcare organization. With rising costs, evolving payment models, and increasing demand for value-based care, healthcare leaders must possess strong financial acumen to ensure sustainability and growth. This training course is designed to equip healthcare professionals with the knowledge, tools, and strategies needed to manage finances and budgets effectively. Through a combination of theoretical insights, practical applications, and real-world case studies, participants will learn to make informed financial decisions that align with organizational goals and improve patient outcomes.

Objectives

By the end of this 5-day training course, participants will:

1. Understand the fundamentals of healthcare finance, including revenue cycles, cost structures, and payment models.

2. Develop skills to create, manage, and analyze budgets for healthcare organizations.

3. Learn to optimize financial performance through cost control and revenue enhancement strategies.

4. Gain insights into the impact of value-based care and alternative payment models on healthcare finance.

5. Explore tools and techniques for financial forecasting, risk management, and decision-making.

6. Build proficiency in communicating financial information to stakeholders.

Who Should Attend?

This course is ideal for:

• Healthcare executives and senior leaders

• Hospital and clinic administrators

• Financial managers and controllers in healthcare

• Clinical leaders with financial responsibilities

• Healthcare consultants and advisors

• Professionals aspiring to leadership roles in healthcare finance

Advanced Outline

Day 1: Foundations of Healthcare Finance

• Morning Session:

  • Introduction to Healthcare Finance: Key Concepts and Challenges

  • Overview of Healthcare Revenue Cycles and Cost Structures

  • Case Study: Financial Management in a Large Hospital System

• Afternoon Session:

  • Understanding Financial Statements: Balance Sheets, Income Statements, and Cash Flow

  • Key Financial Metrics and Ratios in Healthcare

  • Interactive Workshop: Analyzing Financial Statements

Day 2: Budgeting and Financial Planning

• Morning Session:

  • Principles of Budgeting in Healthcare Organizations

  • Types of Budgets: Operational, Capital, and Project-Based

  • Case Study: Developing a Budget for a New Healthcare Facility

• Afternoon Session:

  • Tools and Techniques for Budget Preparation and Monitoring

  • Variance Analysis: Identifying and Addressing Budget Deviations

  • Group Activity: Creating a Budget for a Healthcare Department

Day 3: Cost Management and Revenue Optimization

• Morning Session:

  • Understanding Cost Behavior: Fixed, Variable, and Semi-Variable Costs

  • Strategies for Reducing Costs Without Compromising Quality

  • Case Study: Cost Reduction Initiatives in a Multi-Site Clinic Network

• Afternoon Session:

  • Revenue Cycle Management: Enhancing Billing and Collections

  • Tools for Improving Financial Performance

  • Interactive Workshop: Designing a Cost Management Plan

Day 4: Value-Based Care and Alternative Payment Models

• Morning Session:

  • The Shift from Fee-for-Service to Value-Based Care

  • Overview of Alternative Payment Models: Bundled Payments, Capitation, and ACOs

  • Case Study: Financial Implications of Value-Based Care in a Hospital

• Afternoon Session:

  • Risk Management and Financial Forecasting in Value-Based Care

  • Tools for Evaluating the Financial Impact of Payment Models

  • Group Activity: Developing a Financial Strategy for Value-Based Care

Day 5: Advanced Topics and Financial Leadership

• Morning Session:

  • Financial Decision-Making: Capital Investments and Resource Allocation

  • The Role of Technology in Healthcare Finance: AI, Analytics, and Automation

  • Case Study: Leveraging Technology to Improve Financial Performance

• Afternoon Session:

  • Communicating Financial Information to Stakeholders

  • Final Group Project: Presenting a Comprehensive Financial Plan

  • Course Recap, Certification, and Next Steps for Continued Learning