Students will explore the ways in which the strategic and operational management of finances in healthcare organisations differ from other industries, and the importance of recognising and ameliorating economic risks. The module gives students an opportunity to consider how to set priorities in healthcare, how to approach long-term and short-term financial decision making, and potential avenues for healthcare organisations to diversify income streams. It also introduces participants to the theoretical and practical considerations associated with recruiting, retaining, and looking after staff in healthcare organisations.
This module aims to provide students with an understanding of the unique financial and people management features associated with healthcare systems and organisations.
- Strategic financial planning in healthcare systems
- Operational financial management in healthcare organisations
- Evaluating the financial operations of healthcare organisations
- Audit and internal controls
- Priority setting
- Pricing healthcare services
- Public health and prevention budgets
- Commissioning services and contract management
- Institutional partnership agreements and additional revenue streams
- People and organisational development.
If you complete this course successfully, you should be able to:
- Evaluate the important principles and methods of economic evaluation in health care systems from around the world
- Analyse the fundamental principles of managing budgets, working capital, and short and long term financial investments in healthcare organisations
- Appraise a variety of global regulatory approaches in healthcare finance and the implications for managers within the field
- Interpret the important external and internal factors and trends impacting healthcare industry finances in different regions in the world
- Review the theoretical and policy basis for healthcare commissioning approaches and the unique role of clinical commissioners
- Interpret a range of healthcare organisation data to gain insights into organisational effectiveness
- Critically evaluate the changing role and influence of human resources professionals and the human resources function in healthcare organisations and systems
- Interpret the economic performance of an organisation based on its financial statement
- Critically analyse the various methods for monitoring internal spending, including the opportunities to uncover cost savings
- Assess the relative merits of equity considerations in setting priorities for a health system, and describe the key ethical principles associated with these decisions
- Prepare a healthcare business plan based on multiple data points and financial trends
- Analyse the financial viability of a new healthcare venture and how it contributes to the mission of an organisation
Coursework (30% weighting):
There is one item of coursework for this module which contributes to the final assessment mark for this module:
Coursework: a written assignment of a maximum of 2,000 or 2,500 words (deadline – weeks 9-12). The coursework is designed to check student progress, extend and reinforce concepts covered and also test individual performance.
Examination (70% weighting):
The final piece of assessment will be an unseen written examination of two hours' duration.