HSM 3101
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Credits3
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Delivery MethodIn person
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Related Program
About This Course
This course provides a pragmatic, applied understanding of health economic principles with the specific aim of increasing the effectiveness of management in the health care industry. Managing effectively requires understanding the economic incentives and choices of the various agents: patients, providers, health systems, insurers, manufacturers, and government. Therefore, this course reviews the economic principles that drive the behavior of these agents.
It also provides an overview of the structure of the hospital, provider, pharmaceutical, and medical device industries and their responses to economic forces given the incentives they face. This includes both an examination of private and government insurers and the ways health system actions are influenced by the policies of private and government insurance. Health equity is an issue that applies broadly in the health care industry. As such, it has implications for its management. Similarly, health care management must be prepared to thrive in an environment of continual reform. Accordingly, this course reviews various reform approaches and their implications for the health care industry.
Prerequisites: None, but successful completion of a course in introductory microeconomics is strongly recommended
Instructor
MA, public, human service, and healthcare administration, Minnesota State University Moorhead; BS, public administration with a minor in economic development, St. Cloud State University
Since 2022, Michael Brethorst has been an online instructor within the University of Minnesota system, covering healthcare disparity, healthcare leadership policy, and introduction to healthcare systems. Before that he was director of financial preservice at a multistate integrated healthcare system, managing $2 billion in annual transactions. He has also been a city and county administrator, overseeing comprehensive financial operations and transactions. In those roles, he completed comprehensive annual financial reports (CAFRs) and implemented reforms in accounting and financial practices, including securing bond financing and managing debt refinancing totaling over $350 million. He served 22 years in the Minnesota National Guard, where he achieved the rank of Lieutenant Colonel and served multiple tours overseas.
- HSM 3101 – Applied Health Economics
- HSM 4521 – Health Care Finance