About This Course
This course presents a broad overview of health care finance, but focuses on tasks that are essential to the operational management of clinical services, including estimating revenues, costs and profits, planning and budgeting, analyzing capital investment decisions, using metrics to monitor operations, and working with financial statements and ratios. This course provides an introduction to and increases understanding of how financial accounting and management are important tools used in decision making in health services delivery, management and policy.
In addition, updated health care reform topics including value-based purchasing, bundling, accountable care organizations, and medical homes will be covered. Governmental policies, procedures, and ethical issues affecting the health care industry will also be discussed. This course serves as a foundational course in understanding financial management for health care organizations.
Sample textbooks: Gapenski’s Fundamentals of Healthcare Finance, Kristin Reiter & Paula Song; Third edition, 2018.
Gapenski’s Cases in Healthcare Finance, George Pink & Paula Song; Sixth edition, 2018.
MBA, managerial finance, Indiana University; MA, theology, College of St. Catherine; BSB, business, University of Minnesota
Brad Plowman has been finance director at Regions Hospital in Saint Paul since 1999. His responsibilities include financial analysis, accounting, revenue recognition, cost accounting, and decision support. He also has experience in critical access hospitals and small PPS hospitals, and has held financial leadership roles with small nonprofits and large organizations. Mr. Plowman has made presentations at Healthcare Financial Management Association (HFMA) national conferences regarding aligning cost, quality, and patient experience reporting.
- HSM 4541 – Health Care Finance
M.B.A., Duke University; B.S., accountancy, University of North Dakota
Mark Sharockman is interim CFO for St. Paul Eye Clinic and St. Paul Opticians. Before that he worked with privately held medical specialty practices in the areas of orthopedics, anesthesiology, and ophthalmology. Mark dedicated the past decade to improving the financial viability of independent medical practices by implementing decision-making disciplines and defining strategic growth opportunities. He brings to his work the perspectives of several business sectors, including sports media, health services, and real estate. Mark has been involved at several organizations in value creation initiatives: acquisitions, divestitures, integrations, and implementation of transformational growth and operational improvement strategies, both as an internal manager and an outside advisor.
HSM 4541 – Health Care Finance
MS, health care administration, St. Joseph’s College, Standish, ME; BES, Bachelor of Elective Studies, University of Minnesota
Mr. Chies most recently served as senior vice president of operations for the Benedictine Health System. He is a former aide to a US congressman and has held numerous leadership positions in health care professional, trade, and advocacy organizations, with a particular engagement in the advancement of long-term care administration and excellence. He is an AHCA Baldrige Examiner. Mr. Chies has also taught courses in health care administration. His student-centered learning approach combines a practical understanding of the health care delivery system with high expectations for academic coursework.
- HSM 4541 – Health Care Finance