FINANCIAL MANAGEMENT IN HEALTH SERVICES

PHE5FMH

2021

Credit points: 15

Subject outline

In this subject, you are introduced to financial management in health services, in particular, systems of finance and budgeting as applied in healthcare.In addition, we review how non-monetary resources are recorded and explore the methods in which organisations secure and manage resources needed, and the financial implications associated with procurement. We explore the difference between organisational and management accounting.Topics covered include; accounting principles, basic analysis and management implications related to financial data and quantitative performance data, and basic techniques of quantitative decision making and operations research for dealing with health service resource utilization decisions. You are also introduced to costing and casemix funding in healthcare. In addition, we introduce the impact of procurement of goods and supplies by health services, including common procurement methods and an exploration of ethics in procurement, otherwise known as probity.

SchoolPsychology and Public Health

Credit points15

Subject Co-ordinatorHanan Khalil

Available to Study Abroad/Exchange StudentsYes

Subject year levelYear Level 5 - Masters

Available as ElectiveYes

Learning ActivitiesStructured learning via lectures, pre lecture videos, online activities utilizing flipped learning, discussion blogs.

Capstone subjectNo

Subject particulars

Subject rules

PrerequisitesN/A

Co-requisitesN/A

Incompatible subjectsPHE5HSR AND CPH5HSR

Equivalent subjectsN/A

Quota Management StrategyN/A

Quota-conditions or rulesN/A

Special conditionsStudents must have sufficient internet capacity to run Zoom using a laptop computer equipped with camera and microphone. Overseas students must note that classes are scheduled at Australian Eastern Standard Time or Australian Eastern Standard Daylight time (depending on time of year.)

Minimum credit point requirementN/A

Assumed knowledgeSubject delivered in English, Ability to use a computer in an online environment, Basic function knowledge of spreadsheet programs such as MS Excel.

Learning resources

Accounting: Business Reporting for Decision

Resource TypeBook

Resource RequirementRecommended

AuthorBirt, J., Chalmers, K., Maloney, S., Brooks, S., Oliver, J., Bond, S

Year2020

Edition/Volume7th ed

PublisherJOHN WILEY & SONS

ISBN9780730369325

Chapter/article titleN/A

Chapter/issueN/A

URLN/A

Other descriptionN/A

Source locationN/A

Career Ready

Career-focusedYes

Work-based learningNo

Self sourced or Uni sourcedN/A

Entire subject or partial subjectN/A

Total hours/days requiredN/A

Location of WBL activity (region)N/A

WBL addtional requirementsN/A

Graduate capabilities & intended learning outcomes

Graduate Capabilities

COMMUNICATION - Digital Capability
DISCIPLINE KNOWLEDGE AND SKILLS
INQUIRY AND ANALYSIS - Critical Thinking and Problem Solving
PERSONAL AND PROFESSIONAL - Ethical and Social Responsibility
PERSONAL AND PROFESSIONAL - Leadership and Teamwork

Intended Learning Outcomes

01. Apply conventions of basic principles of accounting, such as relevance, reliability, materiality and timeliness and appreciate implications of cash based and accrual based accounting
02. Critique and interpret the performance of a health service organisation using preexisting data and predict outcomes within the five major accounting categories of assets, liabilities, owner's equity, revenues and expenses.
03. Analyse and interpret between the information provided through a balance sheet, a profit and loss (or income) statement and a statement of cash flows and formulate these financial statements to provide commentary on a health service organisation's performance.
04. Prepare and defend budgets for their organizations or department and apply basic principles of management accounting.
05. Explain the management and implications of procurement of goods and services by health services.
06. Using evidence-based skills, analyze, evaluate and critique the implications of the applications of different methods of financing health service organizations, such as activity-based funding

Subject options

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Start date between: and    Key dates

On-Line, 2021, LTU Term 5, Online

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Subject Instance Co-ordinatorAdamm Ferrier

Class requirements

WorkShopWeek: 37 - 42
Three 2.00 hours workshop every two weeks on weekdays at night from week 37 to week 42 and delivered via online.

Assessments

Assessment elementCommentsCategoryContributionHurdle% ILO*

Four blog postings in peer group (500 words each with a total of 2000 words)

N/AOtherCombinedYes40 SILO2, SILO3, SILO5, SILO6

Multiple Choice Quiz consisting of 30 questions (Equivalent 1000 words)

N/AQuizzesIndividualNo20 SILO1, SILO2, SILO3, SILO5

One written assignment (Equivalent of 2000 words, calculations required in part)

N/AAssignmentIndividualNo40 SILO1, SILO2, SILO3, SILO4, SILO5, SILO6