Introduction

This 5-day professional course, "Healthcare Finance: Budgeting and Compliance," is designed for healthcare professionals who seek to enhance their financial acumen in budgeting and compliance. Through this course, participants will gain an understanding of fundamental financial concepts, strategies for effective budgeting, and the necessary compliance measures in the healthcare sector. Participants will engage in discussions and case studies to translate theoretical knowledge into practical applications.

• Understand the basics of healthcare finance and budgeting.
• Develop skills to create and manage effective healthcare budgets.
• Identify and apply financial compliance standards within the healthcare industry.
• Analyze financial statements and reports for strategic decision-making.
• Implement strategies to improve financial performance in healthcare organizations.

Course Outlines

Day 1: Introduction to Healthcare Finance

• Overview of healthcare finance terminology
• Healthcare systems and financing models
• Roles and responsibilities of financial managers
• Introduction to financial statements
• Case study: Financial challenges in healthcare

Day 2: Budgeting Essentials in Healthcare

• Types of budgets and their purposes
• Steps in the budgeting process
• Importance of strategic budgeting
• Tools and techniques for budgeting
• Workshop: Creating a basic healthcare budget

Day 3: Financial Compliance in Healthcare

• Overview of compliance regulations
• Legal and ethical financial practices
• Fraud prevention and detection
• Role of audits and internal controls
• Case study: Navigating compliance challenges

Day 4: Financial Analysis and Reporting

• Analyzing financial statements
• Key financial ratios and metrics
• Financial forecasting and planning
• Reporting tools and practices
• Workshop: Preparing financial reports

Day 5: Strategic Financial Management

• Linking finance to strategic objectives
• Cost management and reduction strategies
• Investment evaluation and capital budgeting
• Implementing financial improvement plans
• Final discussion: Future trends in healthcare finance