Financial management in health care

The provision of effective healthcare is an essential component of contemporary society, however with people living longer and community expectations of and demand for healthcare increasing at an unprecedented rate, the financial costs of healthcare are growing at an ever increasing rate. Together with rapid advances in clinical capabilities and technological sophistication, meeting these social and financial challenges has never been more challenging.

In this unit you will examine the basic accounting, financial reporting, budgeting and financial business planning concepts applicable to the healthcare sector, and how they are used by healthcare professionals to aid strategic, operational and service delivery decision making.