Introduction to the Financial Management of Healthcare Organizations, Seventh Edition

Overview

Instructor Resources: Test bank, PowerPoint slides, answer guides for the in-book discussion questions and case, and a transition guide to the new edition. 

Financial management challenges are not confined to the CFO’s office. Any manager in today’s increasingly complex healthcare environment must have a solid grasp of finance fundamentals, and this book provides them.

In straightforward language aimed at students and managers outside of finance, Introduction to the Financial Management of Healthcare Organizations covers a full range of topics.

The first four sections—Financial Management, Operating Revenue, Working Capital, and Resource Allocation—start with core financial concepts, then delve into issues unique to the healthcare setting. Highlights include the tax status of healthcare organizations, third-party payers and payment methodologies, cost accounting and analysis, rate setting, strategic financial planning, and capital budgeting.

A final section on healthcare reform analyzes important trends that will affect healthcare organizations in the future.

New to this edition:

• The latest information on health reform, including the Affordable Care Act of 2010 and the Medicare Access and CHIP Reauthorization Act of 2015
• A new section on the Trump administration’s plans for healthcare, including possible scenarios for the ACA
• Updates on financial accounting standards, economic trends, and tax-exempt hospitals
• Expanded content on Medicare and Medicaid (now separated into distinct chapters), including legislative and regulatory updates and federal fraud and abuse initiatives
• Significant new information on healthcare quality, access, and cost

Readers of this book will not only learn the fundamentals of financial management but also gain experience in applying them. Mini-cases, practice problems, and self-quizzes throughout reinforce essential concepts, and a comprehensive case at the end brings the concepts to life.

Author Biography

Michael Nowicki, EdD, FACHE, FHFMA, is a professor of health administration, Texas State University, San Marcos, Texas, where he has won numerous awards for teaching, research and service. He has taught for universities in California, Indiana, Kentucky, Missouri and New Jersey, and for several healthcare-related associations. Before his academic appointments, he held various administrative positions in healthcare organizations around the country. Dr. Nowicki is a noted speaker and author on healthcare financial management and has served as an ACHE Regent.

Dr. Nowicki serves as faculty for the following ACHE seminars:

• Critical Financial Skills for Hospital Success
• Healthcare Finance, Board of Governors Exam Review Course

Dr. Nowicki also authored the following Health Administration Press publication:

• Introduction to the Financial Management of Healthcare Organizations