Health Care Finance: Basic Tools for NonFinancial Managers

ANNOTATION

The book contains black-and-white illustrations.

FROM THE PUBLISHER

This book is designed to be a practical guide to finance for health care managers and is unique in its presentation of real-life examples and information. It sets itself apart from the many existing books on health care finance through not only its practicality, but also through it's strong guidance on financial management for outpatient service delivery, new developments such as APGs and evolving areas in managed care such as bundled and/or capitated services. Using actual examples from hospitals, long-term care facilities, and home health agencies, the book shows the user how to read, analyze, understand, and use financial statements and budgets in today's health care environment. Presented as challenging practice drills, it illustrates real-life problems to be solved.

Features:Written at an extremely basic level making it approachable for students and professionals who need to know only the basics of health care financeBook contains practice problems and then shows step-by-step how the problems are solvedA comprehensive Instructor's Manual is available.

SYNOPSIS

This textbook on practical financial management uses cases from hospitals, long-term care facilities, and home health agencies to explain the system of healthcare finance, the processes of managerial accounting and financial analysis, and financial management tools. An appendix features checklists for budgeting and reviewing balance sheets and financial statements. Baker is a health care consultant. Annotation ©2003 Book News, Inc., Portland, OR

FROM THE CRITICS

Susanne Astley

This volume is a survey of managerial accounting and financial analysis related to healthcare finance. The authors target managers with no financial management education. The authors do seem a bit torn on their reader's identity. They describe the Medicare program, but the "RVRBS update" doesn't explain the basic model. They frequently suggest a computer spreadsheet -- certainly a given for today's default manager. Alternatively, for the true neophyte, the text is at times too academic, making the exercises in the back of the book required, not optional, for comprehension. This is generally a practical digest of healthcare finance and financial management tools. Concepts like types of costs, and the caution that the contribution margin applies only to fixed ones, run in the background of every manger's thinking. Budgeting, staffing, comprehending the four basic financial statements, and cash vs. accrual accounting are in the daily foreground. Besides the narrative, the authors offer four icon-labeled features in each chapter: "Progress Notes" are actually learning objectives to maintain focus; "Information Checkpoints," which propose using real-world information, are less obliging (e.g., the authors frequently counsel "ask your supervisor"-- superfluous for any user); "Key Terms" are beneficial and all found in the glossary; and "Discussion Questions" encourage students to apply the concepts to their current workplace. The case studies, some by other authors, develop specific settings (e.g., nursing homes), and some are hypothetical (XYZ), not actual, businesses. To me, they seem contrived and not as useful as the "in vivo" cases. There are also examples and the aforementionedsolved exercises to amplify the concepts. Forgiving the ambiguous target audience, the authors deliver a useful tool for both seasoned and new healthcare managers. They introduce and review key constructs and methods to assist in many tactical and to some extent, strategic, decisions.

Doody Review Services

Reviewer: Susanne Astley, MS (Creighton University Medical Center)Description: This volume is a survey of managerial accounting and financial analysis related to healthcare finance. Purpose: The authors target managers with no financial management education. Audience: The authors do seem a bit torn on their reader's identity. They describe the Medicare program, but the "RVRBS update" doesn't explain the basic model. They frequently suggest a computer spreadsheet:certainly a given for today's default manager. Alternatively, for the true neophyte, the text is at times too academic, making the exercises in the back of the book required, not optional, for comprehension. Features: This is generally a practical digest of healthcare finance and financial management tools. Concepts like types of costs, and the caution that the contribution margin applies only to fixed ones, run in the background of every manger's thinking. Budgeting, staffing, comprehending the four basic financial statements, and cash vs. accrual accounting are in the daily foreground. Besides the narrative, the authors offer four icon-labeled features in each chapter: "Progress Notes" are actually learning objectives to maintain focus; "Information Checkpoints," which propose using real-world information, are less obliging (e.g., the authors frequently counsel "ask your supervisor":superfluous for any user); "Key Terms" are beneficial and all found in the glossary; and "Discussion Questions" encourage students to apply the concepts to their current workplace. The case studies, some by other authors, develop specific settings (e.g., nursing homes), and some are hypothetical (XYZ), not actual, businesses. To me, they seem contrived and not as useful as the "in vivo" cases. There are also examples and the aforementioned solved exercises to amplify the concepts. Assessment: Forgiving the ambiguous target audience, the authors deliver a useful tool for both seasoned and new healthcare managers. They introduce and review key constructs and methods to assist in many tactical and to some extent, strategic, decisions.

Booknews

A practical financial management text for those who need basic financial management knowledge and a better understanding of health care finance, using actual examples from hospitals, long-term care facilities, and home health agencies. Overviews health care finance, and covers managerial accounting and financial analysis, and financial management tools. Includes discussion questions and key terms, exercises and solutions, case studies, checklists, and a glossary. The authors work in a health care consulting firm. Annotation c. Book News, Inc., Portland, OR (booknews.com)

RATING

2 Stars from Doody

ACCREDITATION