This course explores the fundamentals of finance and economics in a health care system at the local system level and at the national level. Students understanding regarding the need for fiscal responsibility by complex payor systems is essential. The foci of this course include market supply and demand, the economics of care and managed care, budgeting, accounting, and fiscal reporting.
This course is intended to provide an understanding of the healthcare operating model as well as fundamental budget and financial management skills required for successful leadership in health informatics.
Upon successful completion of this course, the student will be able to:
Please note that all times in the syllabus and in Blackboard refer to Eastern Time. The discussion board and assignment links for each week will open at the start of the week for submissions.
Discussion Board Posts: These assignments will assess your ability to clearly and accurately apply concepts from your readings and from your own experiences. Each week you are expected to submit an initial post and comment on at least 2 other students’ posts. You need to follow APA guidelines for citing any sources you may reference in either your initial post or your response to others. Refer to the Discussion Rubric and discussion question for submission guidelines.
Initial post: You should submit your initial post by 11:59 p.m. Sunday. Your initial post should be approximately 500 words.
Response to others: You should comment on at least 2 other students’ posts by 11:59 p.m. Wednesday. Your comments to others should be thorough, thoughtful, and they should offer some new content. Do not merely respond with “I agree” or “I disagree.” Engage directly with the ideas of your classmates and briefly mention which part of the post you are responding to.
Textbook Assignments — In weeks 1-3 and 5-6 there will be a series of textbook assignments to help you consolidate that week’s concepts. Refer to the assignment instructions and associated rubric for submission guidelines.
Key Assignments: A key assignment for the class is a budget project that will allow you to investigate a real-world informatics project and its financial implications. The project consists of an executive summary and a final budget spreadsheet due in week 7. Your final project will incorporate feedback from your instructor on your Budget Topic Proposal (due week 2) and Executive Summary (due week 4). Refer to the assignment instructions and associated rubrics for submission guidelines.
Course Reflection — In week 8 you will reflect on your learning in this course in a 300-5oo word response to questions posed. Refer to the assignment instructions and Final Reflection Rubric for submission guidelines.
All assignments use scoring rubrics to assess student performance. Thoroughly review the rubric and assignment instructions for guidance on what’s required for each assignment.
Your grade in this course will be determined by the following criteria:
Assessment Item | Possible Points | Percent of Total Grade |
---|---|---|
Discussion Posts (8) | 40 pts - (5 pts each) | 20% |
Textbook Assignments (5) | 60 pts - (12 pts each) | 30% |
Topic Proposal for Informatics Budget Project | 10 points | 5% |
Executive Summary for Informatics Budget Project | 20 pts | 10% |
Informatics Budget Project (Includes Executive Summary and Budget in Excel) | 60 pts | 30% |
Reflection | 10 pts | 5% |
Total | 200 pts | 100% |
Grade | Points Grade | Point Average (GPA) |
A | 94 – 100% | 4.00 |
A- | 90 – 93% | 3.75 |
B+ | 87 – 89% | 3.50 |
B | 84 – 86% | 3.00 |
B- | 80 – 83% | 2.75 |
C+ | 77 – 79% | 2.50 |
C | 74 – 76% | 2.00 |
C- | 70 – 73% | 1.75 |
D | 64 – 69% | 1.00 |
F | 00 – 63% | 0.00 |
Course learning modules are divided into weeks. Each week starts on Wednesday at 12:00 am Eastern Time (ET) and closes on Wednesday at 11:59 pm ET, with the exception of Week 8, which ends on Sunday. All assignments must be submitted by 11:59 pm ET on the due date.
Learning Modules | Topics | Assignments and Due Dates |
Week 1 10/23 – 10/30 |
Introduction & Demand |
Introductory Discussion Textbook Assignment – Wednesday 10/30 |
Week 2 10/30 – 11/6 |
Supply |
Discussion – Initial post by Sunday, responses by Wednesday 11/6 Textbook Assignment – Wednesday 11/6 Budget Topic Proposal – Wednesday 11/6 |
Week 3 11/6 – 11/13 |
Market Structure |
Discussion – Initial post by Sunday, responses by Wednesday 11/13 Textbook Assignment – Wednesday 11/13 |
Week 4 11/13 – 11/20 |
Overview of Financial Management |
Discussion – Initial post by Sunday, responses by Wednesday 11/20 Executive Summary for Informatics Budget Project – Wednesday 11/20 |
Week 5 11/20 – 11/27 |
Operating Revenue |
Discussion – Initial post by Sunday, responses by Wednesday 11/27 Textbook Assignment: Case Study – Wednesday 11/27 |
Week 6 11/27 – 12/4 |
Revenue Cycle Management, Materials Management, Financial Analysis |
Discussion – Initial post by Sunday, responses by Wednesday 12/4 Textbook Assignment: Case Study – Wednesday 12/4 |
Week 7 12/4 – 12/11 |
Resource Allocation, Budgeting, Cost Accounting |
Discussion – Initial post by Sunday, responses by Wednesday 12/11 Final Project Informatics Budget Proposal – Wednesday 12/11 |
Week 8 12/11 – 12/15 |
Future Frontiers & Economic Controversies |
Discussion – Initial post by Friday 12/13, responses by Sunday 12/15 Reflection – Sunday 12/15 |
Learning Outcomes:
Course Materials:
Assignments:
Introductory Discussion: Briefly introduce yourself to your instructor and peers. What interests you about healthcare finance and economics? What are you hoping to learn in this course?
Discussion Question: Economists often assume that people are rational and forward-looking in their decisions. What is meant by the terms “rational” and “forward-looking?” Give concrete examples of a decision in which people are likely to be rational and forward-looking and one in which this assumption seems less tenable. What empirical tests would you use to determine whether people are rational and forward-looking in a particular context or not?
Textbook Assignments: Complete the following from the Exercises section of the chapter:
Chapter 2, Exercise 2.1 (p. 73) “A patient with arthritis of the knee . . .”
Chapter 3, Exercise 3.9 (p. 123) “Bill’s new insurance policy . . .”
Chapter 4, Exercise 4.6 (p. 163) “In each of the following pairs, which situation . . .”
Chapter 4, Exercise 4.7 (p. 163) “Considering each of the following pairs, . . .”
Submit your responses in a WORD document with APA formatting. See the Textbook Assignment Rubric for submission guidelines.
Learning Outcomes:
Course Materials:
Assignments:
Discussion Question: What is the theoretical relationship between hospital ownership and hospital performance? Do private and not-for-profit hospitals enjoy any advantage that might increase their measured efficiency relative to that of for-profit hospitals? What do the Newhouse and the physicians’ cooperative models imply about the efficiency of private non-for-profit hospitals relative to that of for-profit hospitals?
Textbook Assignments: Complete the following from the Exercises section of the chapter:
Chapter 5, Exercise 5.2 (p. 207) “Suppose a country with three cities . . .”
Chapter 5, Exercise 5.5 (p. 208) “In 1988, Medicare cut the payment . . .”
Chapter 6, Exercise 6.7 (p. 255) “In some settings, physicians are employed on a fixed salary . . .”
Chapter 10, Exercise 10.2 (p. 461) “Suppose country A adopts a public health insurance plan . . .”
Chapter 10, Exercise 10.5 (p. 461) “Compare differences between public health insurance and . . .”
Submit your responses in a WORD document with APA formatting. See the Textbook Assignment Rubric for submission guidelines.
Budget Topic Proposal: Please submit a short description (1-2 paragraphs) describing the topic for your health informatics budget project. Informatics projects should include people, process, and technology components – address each area. Explain why you selected your topic and why it is important. Projects can address a wide range of informatics areas including EHR system updates, clinical quality reporting, revenue cycle management optimization, cost accounting system implementation, or data warehouse implementation. Please do not select a complete EHR implementation for this project. See the Budget Topic Proposal Rubric for submission guidelines.
Learning Outcomes:
Course Materials:
Assignments:
Discussion Question: Explain the distinction between patient-driven competition and payer-driven competition. Give examples of how these two types of competition would lead to different outcomes in a hospital market.
Textbook Assignments: Complete the following from the Exercises section of the chapter:
Chapter 11, Exercise 11.4 (p. 502) “The following is a summary statistics table for China and India . . .”
Chapter 12, Exercise 12.4 (p. 561) “In the early 1970s, . . .”
Chapter 12, Exercise 12.7 (p. 561) “Use three graphs . . .”
Chapter 13, Exercise 13.4 (p. 627) “According to a study conducted by the World Bank . . .”
Submit your responses in a WORD document with APA formatting. See the Textbook Assignment Rubric for submission guidelines.
Learning Outcomes:
Course Materials:
Assignments:
Discussion Question: Explain the meaning and rationale of granting corporate status to healthcare organizations and the advantages corporate status provides. What are the steps necessary to qualify for tax-exempt status?
Executive Summary for Informatics Budget Project: This week complete an Executive Project Summary for your informatics budget project. The Executive Project Summary should include the items below submitted in a WORD document and be about 2-3 pages in length. Use APA formatting. See the Executive Summary Rubric for submission guidelines.
Learning Outcomes:
Course Materials:
Assignments:
Discussion Question: Discuss the differences between second-party payment and third-party payment. What led to the creation of the third party payment system? Why do healthcare organizations choose to shift costs to other payers?
Textbook Assignment: Case Study: Read the Case Study, Bobcat Integrated Delivery System, on page 381 in Nowicki. Do problems 5, 6, 8 and 9. Submit your responses in a WORD document using APA formatting. Make sure to provide an introduction and conclusion to your case study. The body of the case will be the responses to each of the questions. See the Case Study Rubric for submission guidelines.
Learning Outcomes:
Course Materials:
Assignments:
Discussion Question: What are the steps to managing accounts receivable? What is the best way to evaluate revenue cycle management performance?
Textbook Assignment: Case Study: This week we will continue with the Case Study on page 381 in Nowicki: Bobcat Integrated Delivery System. Do problems 12, 13, 16 and 18. Submit your responses in a WORD document using APA formatting. Make sure to provide an introduction and conclusion to your case study. The body of the case will be the responses to each of the questions. See the Case Study assignment in the course and Rubric for submission guidelines.
Learning Outcomes:
Course Materials:
Assignments:
Discussion Question: Why is it important to be able to classify costs a variety of different ways? What is the point of allocating costs?
Final Project Informatics Budget Proposal: This week you will submit your final informatics budget project. Your final project will include an updated executive summary incorporating any feedback you received in week four with two new sections added:
Learning Outcomes:
Course Materials:
Assignments:
Discussion Question: Consider the share of GDP spent on healthcare in every country increases over time. Do you expect this share to continue to rise in the future? Is it possible that a country such as the US will spend more than 30 percent of its GDP on personal health care services in 2030? Explain why this would happen if you think so.
Reflection: Provide a response of about 350-500 words reflecting on what we have covered in this class and your experience. Address the following key areas: What are the top three things you learned in this class and why? Address both healthcare economics and financial management. How can you apply these learnings? How is what you learned in this class relevant to your current and/or future work? Submit your reflection in a WORD document with APA formatting. See the Final Reflection Rubric for submission guidelines.
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Assignments: Late assignments will be accepted up to 3 days late; however, there is a 10% grade reduction (from the total points) for the late submission. After three days the assignment will not be accepted.
Discussion posts: If the initial post is submitted late, but still within the discussion board week, there will be a 10% grade reduction from the total discussion grade (e.g., a 3 point discussion will be reduced by 0.3 points). Any posts submitted after the end of the Discussion Board week will not be graded.
Please make every effort ahead of time to contact your instructor and your student support specialist if you are not able to meet an assignment deadline. Arrangements for extenuating circumstances may be considered by faculty.
8 week: Students taking online graduate courses through the College of Professional Studies will be administratively dropped for non-participation if a graded assignment/discussion post is not submitted before Sunday at 11:59 pm ET of the first week of the term. Reinstatement is at the purview of the Dean's Office.
16 week: Students taking online graduate courses through the College of Professional Studies will be administratively dropped for non-participation if a graded assignment/discussion post is not submitted before Friday at 11:59 pm ET of the second week of the term. Reinstatement is at the purview of the Dean's Office.
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Please contact your student support specialist if you are considering dropping or withdrawing from a course. The last day to drop for 100% tuition refund is the 2nd day of the course. Financial Aid charges may still apply. Students using Financial Aid should contact the Financial Aid Office prior to withdrawing from a course.
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Academic dishonesty includes, but is not limited to the following:
Charges of academic dishonesty will be reviewed by the Program Director. Penalties for students found responsible for violations may depend upon the seriousness and circumstances of the violation, the degree of premeditation involved, and/or the student’s previous record of violations. Appeal of a decision may be made to the Dean whose decision will be final. Student appeals will take place through the grievance process outlined in the student handbook.