Introduction to Healthcare Finance and Accounting
Master the financial and accounting principles unique to the healthcare industry. This course provides you with the tools to understand revenue cycles, manage costs, and tackle the regulatory challenges specific to healthcare organizations.
Course Description
The healthcare industry operates in one of the most complex financial and regulatory environments, making specialized knowledge in healthcare finance and accounting essential. This course is designed to equip you with the skills and insights needed to navigate these challenges with confidence.
From understanding the financial structure of healthcare organizations to analyzing their unique revenue cycles and pricing models, you'll gain a comprehensive overview of the key elements that drive financial success in this sector. We’ll explore the differences between for-profit and nonprofit healthcare entities, discuss regulatory compliance, and address common financial objectives and accounting challenges.
Whether you’re a CPA, financial analyst, or manager, this course will empower you to better understand and contribute to the financial health of healthcare organizations.
In this course, you'll learn...
Course Objectives
The unique financial structure and revenue cycles of healthcare organizations
Common healthcare pricing models, such as fee-for-service and value-based pricing
Key accounting challenges, including regulatory compliance and nonprofit tax-exempt status
How to analyze and manage operating costs and capital expenditures
Strategies for aligning financial reporting with organizational goals
How you'll apply these skills...
Optimize financial operations: Use your knowledge of revenue cycles and cost management to improve efficiency in healthcare organizations.
Enhance decision-making: Provide actionable financial insights to guide strategic decisions for both for-profit and nonprofit healthcare entities.
Ensure regulatory compliance: Apply your understanding of healthcare laws and standards, such as HIPAA and tax-exempt requirements, to avoid costly fines and maintain public trust.
Support mission alignment: For nonprofit organizations, demonstrate how to use financial data to measure mission-related outcomes and retain tax-exempt status.
Drive financial stability: Contribute to long-term success by evaluating financial health, managing risks, and ensuring sustainable operations.
Course Instructor
Michael Carroll, CPA, CISA, CISM
Michael is an accounting and information security professional. He is also an Adjunct Professor at several higher education institutions, where he is responsible for teaching various accounting and information technology courses.
Michael earned his MBA in Accounting and B.S. in Accounting / Accounting Information Systems from Canisius University. Additionally, Michael is a Certified Public Accountant (CPA) and a Certified Information Systems Security Professional (CISSP). Michael is a current member of the NYCPA’s Education Committee and has been an Advisory Board Member for the Academy of Finance (AOF) since 2020.
Michael enjoys traveling, hiking, and watching the Buffalo Bills. He has also participated in several marathon events.
Course Content
Additional Info
Format
5-20 min. videos, 2 quizzes, and a final assessment
Field of study
Specialized Knowledge
CPE Credits
CPEs 3.0
Prerequisites
You should have an intermediate knowledge of Excel (e.g. IF statements, VLOOKUP, COUNTIFS, etc.). If you are not comfortable with Excel, we recommend taking our Microsoft Excel Bootcamp.