HSM 4541/6541

About This Course

This course provides general principles of financial management for the healthcare sector and the entry level healthcare manager. Students will learn operational knowledge of financial management theory, financial planning and budgeting, reimbursement methods, cost analysis, risk management and ethical issues as well as governmental policies and procedures controlling the healthcare sector.

Prerequisites: Basic accounting knowledge, such as ACCT 2051 or APEC 1251, and knowledge of Microsoft Excel are strongly recommended.

Instructors

Steven Chies
Steven Chies

"What I recommend students have is skills in spreadsheets, an essential skill for both the financial management course and employment in healthcare."

MS, healthcare administration, St. Joseph’s College, Standish, ME; BES, 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 healthcare 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 healthcare administration. His student-centered learning approach combines a practical understanding of the healthcare delivery system with high expectations for academic coursework.

  • HSM 4541 – Healthcare Management Finance
Head shot of Michael Brethorst
Michael Brethorst

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 3001 – Exploration of Healthcare Management Careers
  • HSM 4541 – Healthcare Management Finance

Information Subject to Change

Course details, syllabus, and instructor are subject to change. Current course details can be found by clicking on the Term link(s) above.