Introduction to Health Care Economics and Financial Management Fundamental Concepts with Practical Application

ISBN-10: 0781740193

ISBN-13: 9780781740197

Edition: 2004

Authors: Susan J. Penner

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This text presents basic concepts of economics and tools for financial management in the health care arena, including budgeting, breakeven analysis, financial reporting, business plan preparation, and grant writing. The text includes practical case examples drawn from actual health care settings to relate theory to real-world practice. A sample grant proposal and unique grant writing chapter will prepare students for this critical aspect of management. A free, back-of-book CD-ROM provides sample worksheets for analyzing budgets and determining breakeven points, cost-benefit, and cost-effectiveness, as well as sample budgets. Students can use the worksheets to apply their own data and complete their own analyses.
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Book details

List price: $77.95
Copyright year: 2004
Publisher: Lippincott Williams & Wilkins
Publication date: 11/14/2003
Binding: Paperback
Pages: 336
Size: 7.25" wide x 9.00" long x 0.50" tall
Weight: 1.298

Susan J. Penner, MN, MPA, DrPH, RN, CNL, is on the faculty of the School of Nursing and Health Professions, University of San Francisco, where she teaches courses on health care financial management, instructional design, program planning and evaluation, informatics and epidemiology/E-B practice courses for the CNL and Health Systems Leadership programs, the DNP program and the MPH program. Dr. Penner has taught community health nursing, financial management and nursing research in traditional BSN (CSU East Bay and Samuel Merritt University, Oakland, CA), RN-BSN (Holy Names University, Oakland, CA) and online/distance nursing programs (CSU Fullerton). In addition to authoring the first edition of "Introduction to Health Care Economics and Financial Management "(2004), Dr. Penner has contributed chapters to five books and has written over twenty academic journal/peer reviewed articles.

Introduction to Health Economics and Managed Care
Fundamental Principles of Health Care Economics
U.S. Health Care Economy
Production Possibilities Curve
Demand Shifters
Supply Shifters
Profit Maximization
Equilibrium and Disequilibrium
Market Failures
Market Power
Information and Rational Decision-Making Problems
Public Goods and Externalities
Health Care Labor Markets
Health Care Labor Demand Shifters
Health Care Labor Supply Shifters
Health Care Labor Market Failures
Is Health Care "Different?"
Fundamentals of Insurance and Managed Care
Health Insurance History and Principles
Historic Foundations of Health Insurance
Principles of Health Insurance
Capitation And Managed Care
Historic Foundations of Managed Care
Principles of Managed Care
Specialty Managed Care
Financial Reporting in Managed Care Settings
Pine Tree Medical Group
Overall Primary Care Utilization and Financial Data
Overall Primary Care Financial Indicators
Primary Care Utilization and Financial Data and Indicators by PCP
Overall Specialty Care Utilization and Financial Data
Specialty Care Data and Indicators by PCP and by Specialist
Inpatient Utilization and Costs by PCPs
Comparison of Data and Indicators over Time
Budgets, Budget Monitoring, and Budget Preparation
Types and Components of Budgets
Budgets as Descriptions
Budget Components
Types of Budgets
Statistics Budget
Operating Budget
Capital Budget
Cash Flow Budget
Other Budgets
Budget Monitoring and Control
Monitoring Budgets
Variance Analysis
Budget Control
Budget Preparation
Factors in Budget Preparation
Budget Cycle and Strategic Plan
Operating Budget Preparation
Incremental Budgeting
Variance Analysis and Budget Preparation
Fixed and Flexible Non-Personnel Expenses
Fixed and Flexible Personnel Expenses
Revenue Budgeting and Budget Balancers
Budgeting for New Line Items
Preparing the Capital Budget
Preparing the Cash Flow Budget
Additional Budget Preparation Concepts
"What-if" Calculations
Step-fixed FTEs and Budgeting
Zero-Base Budgeting
Closing a Program
Cost Allocation and Cost-Finding
Cost Centers and Cost Drivers
Cost Drivers
Direct Distribution Cost Allocation and Cost-Finding
Overhead Rate Method of Direct Distribution
Cost Pool Method of Direct Distribution
Other Cost Allocation Methods
Classification and Weighted Approaches to Costing Services
Other Cost-Finding Methods
Monitoring and Preparing Cost Reports
Financial Analysis Tools
Break-Even Analysis
Break-Even Without Profit
The Break-even Principle and Formula
Keeping Costs within Budget
When Reimbursement Is Set
Using Break-Even Analysis to Set the Price
Break-even with Profit
Break-even Volume to Generate a Profit Target
Break-even Price to Generate a Profit Target
Guidelines for Breaking Even
Contribution Margin
Unit Contribution Margin
Contribution Margin and pro forma P&L Statements
Complicating Factors in Breaking Even
Break-Even in Capitation
Cost-Benefit Analysis and Cost-Effectiveness Analysis
Cost-Benefit Analysis
CBA Procedures
Discounting, Discount Rate and Present Value
Cost-Effectiveness Analysis and Procedures
Valuing Human Life
Quality-Adjusted Life Years
Program Evaluation
Limitations of CBA and CEA
Understanding and Using Financial Reports
Basics of Financial Accounting and Reporting
History and Regulation of Financial Reporting
Measuring and Recording Financial Activities
Time Periods
Basis of Accounting
Consistency and Conservatism
Financial statements
The Annual Report
The Income Statement
The Balance Sheet
The Statement of Cash Flows
The Statement of Cash Flows, Balance Sheet, and Income Statement
Basic Financial Analysis
Financial Statement Analysis
Operating Leverage
Percentage Change Analysis
Common Size Analysis
Ratio Analysis
Operating Analysis
Applying Budgeting and Financial Analysis: Business Plans and Grant Proposals
Writing a Business Plan
Components of the Business Plan
Problem or Need Identification
Product Definition
Market Analysis
Budget Estimates
Financial Analysis
Conclusion and Feasibility Statement
Grant Writing: Getting Funding From an Outside Source
Types Of Grant Proposals
Purposes of Health Program Grant Proposals
Other Types of Grants
Funding Sources
Key Components of Proposals
Letter of Transmittal
Items Promoting Clarity
Proposal Introduction
Problem Definition and Needs Assessment
Documenting Need
Program Description
Resources and Resource Needs
Budget and Explanation
Evaluation Plan
Capability Statement
Plans for Future Funding
Evaluating Proposals
Grant Renewals
International Perspectives and Future Trends
International Health Economics Issues
Health Care Systems
Economic Comparisons: Industrialized Nations
Issues in Developing Nations
Health Care Rationing
Global Concerns
Future Trends and Keeping Updated
Health Policy Questions
Keeping Updated on Future Trends
Future Trends
Aging Population
Health Care Labor Imbalances
Growth in Technology Use
Access to Health Care
Medicare Reimbursement
National Health Care Coverage
Implications for Readers
Cost Benefit Analysis
Cost Effectiveness Analysis
Business Plan
Grant Proposal
Policy Question Worksheet
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