Financial Acumen for Non-Financial Managers
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Course Summary
Learn how to understand and manage the financial aspects of healthcare organizations with this course for healthcare managers.Key Learning Points
- Understand the basics of healthcare finance, including revenue cycles, financial statements, and budgeting
- Learn about healthcare reimbursement models and contracting with payers
- Explore the financial implications of healthcare policy and regulatory changes
- Discover strategies for managing expenses and improving financial performance in healthcare organizations
Related Topics for further study
Learning Outcomes
- Understand the financial aspects of healthcare organizations
- Develop strategies for improving financial performance
- Learn about healthcare reimbursement and contracting
Prerequisites or good to have knowledge before taking this course
- Basic knowledge of healthcare
- Basic math skills
Course Difficulty Level
IntermediateCourse Format
- Online
- Self-paced
Similar Courses
- Healthcare Management: Financial Sustainability
- Healthcare Finance and Financial Management
Related Education Paths
Related Books
Description
In this course, you’ll explore how financial statement data and non-financial metrics can be linked to financial performance. Professors Rick Lambert and Chris Ittner of the Wharton School have designed this course to help you gain a practical understanding of how data is used to assess what drives financial performance and forecast future financial scenarios. You’ll learn more about the frameworks of financial reporting, income statements, and cash reporting, and apply different approaches to analyzing financial performance using real-life examples to see the concepts in action. By the end of this course, you’ll have honed your skills in understanding how financial data and non-financial data interact to forecast events and be able to determine the best financial strategy for your organization.
Outline
- Module 1: Introduction, Balance Sheet and Income Statement
- Course Introduction
- An Overview of Accounting and the Financial Reporting Environment
- The Balance Sheet Equation
- Assets, Liabilities, Shareholders' Equity
- Case 1, Part 1 - Balance Sheet Transactions
- Application to Real-World Financial Statements: Large U.S.-Based Multinational Consumer Goods Company (Part 1)
- Income, Revenue, and Expenses
- Case 1, Part 2 - Revenue and Expense Transactions
- Adjusting Entries
- Case 1, Part 3 - Adjusting Entries
- Application to Real-World Financial Statements: Large U.S.-Based Multinational Consumer Goods Company (Part 2)
- Module 1 Quiz 2 HCD Financial Statement PDF
- PDFs of Module 1 Slides
- Module 1 Quiz 1 - Balance Sheet and Income Statement
- Module 1 Quiz 2 - Balance Sheet and Income Statement
- Module 2: Cash Flow Statement
- Financing Cash Flows
- Case 1, Part 4 - Cash Flow Statement Direct Method
- Cash Flow Statement - Indirect Method
- Case 1, Part 5 - Cash Flow Statement Indirect Method
- Application to Real-World Financial Statements: Large U.S.-Based Multinational Consumer Goods Company (Part 3)
- Module 2 Quiz 2 HCD Financial Statement PDF
- PDF of Module 2 Slides
- Module 2 Quiz 1 - Cash Flow Statement
- Module 2 Quiz 2 - Cash Flow Statement
- Module 3: Financial Statement Analysis
- Overview of Ratio Analysis
- Profitability Measures
- Drilling Deeper into Return on Assets
- Sales and Earnings Quality
- A More Sophisticated Calculation of ROA
- PDFs of Module 3 Slides
- Module 3 Quiz
- Module 4: Linking Non-Financial Metrics to Financial Performance
- Overview
- Step 1: Identifying the Right Drivers
- Step 2: Setting Targets
- Comprehensive Examples
- Incorporating Analysis Results in Financial Models
- Using Analytics to Choose Action Plans
- Organizational Issues
- PDF of Module 4 Slides
- Module 4 Quiz - Linking Non-financial Metrics to Financial Performance
Summary of User Reviews
This finance for healthcare managers course on Coursera has received positive reviews from users. Many have praised the practical and real-world approach to the subject matter.Key Aspect Users Liked About This Course
Practical and real-world approach to the subject matterPros from User Reviews
- Instructors are knowledgeable and engaging
- Course content is relevant and applicable to healthcare industry
- Flexible schedule allows for self-paced learning
- Quizzes and assignments are helpful for reinforcing concepts
- Great value for the price
Cons from User Reviews
- Some users found the course to be too basic
- Not enough emphasis on case studies
- Limited interaction with instructors and peers
- Course material can be dry and boring
- Certificate of completion does not hold much weight in the job market
Richard Lambert
4.5 Raiting
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