Effective Healthcare Financial Management Strategies for Administrators (HFM 201)

Capella University’s HFM 201: Healthcare Financial Management course is designed to equip healthcare administrators with the knowledge and skills needed to manage financial operations effectively in healthcare settings. As healthcare organizations face increasing financial pressures, administrators must adopt efficient financial management strategies to ensure the sustainability and profitability of healthcare facilities while maintaining high-quality patient care.

Course Overview:

HFM 201 focuses on the core principles of healthcare financial management, including budgeting, financial forecasting, and financial reporting. The course explores the unique aspects of financial management in healthcare settings, such as reimbursement models, cost control, and the management of both direct and indirect costs. Students will learn how to implement financial strategies that align with the goals of the healthcare organization, focusing on maintaining financial stability while improving operational efficiency and patient care outcomes.

Key Learning Outcomes:

By the end of HFM 201, students will:

Develop Financial Management Plans: Learn how to develop and manage effective financial management plans that ensure healthcare organizations remain financially viable while providing high-quality care.
Utilize Key Financial Metrics: Understand how to analyze and apply financial ratios, revenue cycles, and cost allocation methods to make informed financial decisions.
Implement Cost Control Measures: Develop strategies to control costs, identify cost-saving opportunities, and ensure the efficient use of resources within healthcare organizations.
Navigate Healthcare Reimbursement Models: Gain an understanding of healthcare payment systems, including Medicare, Medicaid, and private insurance, and learn how to optimize reimbursement strategies to improve financial performance.

This course helps healthcare administrators adopt financial management strategies that balance cost control with the goal of improving care delivery and patient outcomes.