MS in Healthcare Financial Management
The MS in Healthcare Finance is designed for those who already have advanced preparation and/or certification in a related field (e.g., CPA, MD, JD, MBA, PharmD) preparing for positions as CFO, budget director or financial analyst, or those in general healthcare management desiring a deeper knowledge of financial strategy and practice. The program provides a rigorous background for practical applications in areas such as third party reimbursement, physician practice management and valuation, projection of working capital requirements, analysis of hospital bond rating and pricing, risk assessment, mergers, acquisitions and joint ventures.
Curriculum
10 Courses / 30 Semester Hours
- HM 5101 - Health Systems Organization
- HM 5102 - Management of Healthcare Organizations
- HM 5103 - Financial Management of Healthcare Organizations
- ACCT 5107 - Accounting for Third-party Payment
- RMI 5103 - Healthcare Risks
- FIN 5104 - Advanced Corporate Finance
- Four Electives (12 cr.) in Healthcare, Risk, Accounting or Finance (nb: the electives selected must be approved by the MS Healthcare Finance program director)
Prerequisites
Finance 5001, Economics 5001 and STAT 5001 or equivalent and permission of instructor
The course objectives are: To value the human and financial dimensions of health care, estimate cash flows from healthcare operations, and to value the organization’s assets, to structure accounts for efficient and meaningful transactions records and gain competence and confidence in the skills needed to manage the financial operations of a medical organizations.
Students are expected to obtain an overall understanding of the flow of funds in healthcare, and to choose a particular aspect for their term project. The role of contracts in solving problems of risk and ownership are emphasized, with a case study of the organization of the Pharmaceutical Industry used as an exercise in relating function, structure and cash flow. Analysis administrative and regulatory detail in a wide range of organizational settings provides a cumulative picture of the health care industry, and is tied to macroeconomic trends and their current budgetary expression (e.g., “sustainable growth rate” limitations in physician reimbursement, area wage indices).
The mechanics and ethics of cost shifting are examined in detail. The justification and merits of for-profit and not-for-profit capital structures in the hospital and insurance industry are contrasted.
*** The curriculum assumes that the applicant has an advanced degree in healthcare management or prior academic background in accounting and finance. If students enter without adequate background the following courses will be required:
- ACCT 5001 - Accounting for Managerial and Investment Analysis and Planning
- FIN 5001 - Financial Analysis and Strategy
- STAT 5001 - Quantitative Methods for Business
Total credits for MS in Healthcare Finance is 30 to 39 depending on prerequisites.
Learning goals
The Three main learning goals for students in the MS in Healthcare Financial Management program will be to:
- Extend Accounting Technical problem solving skills
- Extend Financial technical problem solving skills
- Understand the financial and operational impact of the US third-party payment system for healthcare goods and services
Specific learning objectives include:
- Extend Accounting Technical problem solving skills
- Analyze and journalize complex transactions
- Prepare Balance Sheets, Statement of Earnings and Cash Flow Statements
- Determine Audit Strategies
- Identify, understand, and mitigate audit risk
- Extend Financial technical problem solving skills
- Assemble appropriate quantitative information to support managerial decisions
- Understand how accounting information can be used in firm performance evaluation
- Understand and use asset pricing models
- Understand the implications of operational indicators and their impact on financial performance
- Understand the financial and operational impact of the US third-party payment system for healthcare goods and services
- Understand and apply health economic theory
- Understand the impact of health insurance on the supply and demand of healthcare goods and services
- Understand the financial impact of health insurance and contracting on the operational and financial indicators of the healthcare organization.
Advisor
Dr. Barbara Blundi Manaka
Associate Program Director
(215) 204-4963
barbara.manaka@temple.edu