Introduction to the Financial Management of Healthcare Organizations, 8th Edition

  • 8h 28m
  • Michael Nowicki
  • Health Administration Press
  • 2021

To succeed in an increasingly competitive environment, healthcare managers require a full toolbox of knowledge and abilities. Yet, many managers lack financial skills or an understanding of how to apply them to their work.

Introduction to the Financial Management of Healthcare Organizations offers a fundamental overview of how financial management works in healthcare organizations. Designed for healthcare management students, clinical students, and managers new to healthcare, the book reinforces basic concepts through mini-case studies, practice problems, and self-quizzes. A comprehensive case at the end of the book draws on information presented throughout the chapters to help readers apply their newfound financial skills to real-world healthcare scenarios.

This heavily revised edition features current data and updated content on economics, financial accounting, laws, and regulations. Organized into modules, the book allows instructors to use the chapters that are best suited to their course and in the order that they prefer. Chapter one appendices highlight introductory content and terminology exploring statistics, economics, and financial accounting.

New topics in this edition include:

  • The status of Medicaid expansion
  • Changes in GAAP (generally accepted accounting principles)
  • Fraud and abuse initiatives and settlements
  • Payment reform, such as value-based purchasing initiatives and pricing transparency laws
  • Healthcare reform efforts, including early indications of President Biden’s agenda
  • COVID-19 relief efforts and issues exposed by the pandemic

Each of the book’s chapters concludes with a summary of key points and discussion questions, encapsulating what readers are learning.

The concepts and practical skills learned from this book will better equip readers to manage—and solve—the day-to-day financial problems they will face throughout their careers.

About the Author

Michael Nowicki, EdD, FACHE, FHFMA, is a professor of health administration at Texas State University. Dr. Nowicki received his doctorate in educational policy studies and evaluation from the University of Kentucky, his master’s in healthcare administration from The George Washington University, and his bachelor’s in political science from Texas Tech University. As a Fellow of the American College of Healthcare Executives, he is board certified in healthcare management.

In this Book

  • Preface
  • Financial Management in Context
  • Organization of Financial Management
  • Financial Analysis and Management Reporting
  • Tax Status of Healthcare Organizations
  • Recommended Readings—Part I
  • Third-Party Payment
  • Medicare
  • Medicaid
  • Cost Accounting
  • Reimbursement
  • Recommended Readings—Part II
  • Managing Working Capital
  • Managing Revenue Cycle
  • Managing Materials
  • Recommended Readings—Part III
  • Strategic and Operational Planning
  • Budgeting
  • Capital Budgeting
  • Recommended Readings—Part IV
  • Healthcare Reform Trends
  • Recommended Readings—Part V
  • Case Study—Chisos Mountains Medical Center
  • List of Abbreviations
  • Glossary