Despite having extensive medical expertise, physician leaders have not always developed the financial literacy needed to manage organizations and create financially sound strategies for delivering health care.
There are many financial characteristics unique to health care that significantly enhance the importance of financial management control – and can also make it challenging to assume fiscal responsibilities. Recent shifts in U.S. health care policy towards payment structures that incent high quality and efficient care, a refocus on value-based care from volume-based care, and an increased emphasis on cost containment and quality measurement add to these challenges
This online program will increase physician leaders’ competence in the critical area of financial management and control. Led by Harvard experts, you will benefit from a combination of learning approaches, such as case studies and interactive classroom discussions.
Key financial concepts covered in this course include:
- Differential Costs
- Full Cost Accounting
- Management Control Structure
You will learn methods for determining the full cost of delivering health care, examine fixed costs, variable costs, direct costs, indirect, as well as when differential costs should be used rather than full costs.
By the end of the program, you will have the understanding and skills to more effectively manage the planning and control-related activities of your department or division. This includes the ability to interact more effectively with the finance personnel in your hospital and practice settings.