Financial realities play an important role in many, if not most, management decisions made in healthcare organizations. Financial acumen is a critical professional competency for all healthcare managers, regardless of the functional area or setting they work in. Fundamentals of Healthcare Finance provides a solid grounding in the principles and tools of accounting and finance that managers use daily. From planning and budgeting to risk analysis and financial reporting, core concepts are clearly explained and supported by real-world examples. This fourth edition has been updated throughout to reflect the most recent payment models and current financial accounting standards. A new chapter describes the role that internal control and governance play in ensuring the accuracy of financial information, as well as strategies for identifying and preventing errors and fraud. Other new content in this edition covers:Rate and efficiency variancesRevenue cycle management and new reimbursement modelsThe new revenue recognition standard and its implementationThe growth in (and importance of) data-driven decision-makingAccounting changes for lease arrangements The book’s concepts are reinforced with practice scenarios, contemporary examples, self-test questions, sidebars, and a running glossary. Fundamentals of Healthcare Finance provides managers with the financial proficiency they need to ensure their department and organization run optimally.
