Workshop on Finance & Accounting for Hospital Managers

Program Overview:

The financial team has a hierarchy, but in general, input is taken from all the managers at all levels when it comes to big investments in the business. Long-term investment decisions involve analyzing implementation strategies and determining how the investment might affect the financial future – for the better or for the worse. For example, the financial team at the hospital would look at the cost of an emergency room expansion and potential revenue increases and decides if it would be a good investment.

Hospital profitability, financial leverage, asset liquidity, operating efficiency, and costs appear to be important factors for quality health care delivery. The quality of patients’ treatment rises in the year following an increase in hospital profitability, financial leverage, and labor costs.

Decision makers in any organization will know that finance and accounting are perhaps one of the largest contributors for informed decisions. In order to make the right decisions, hospital managers need to be empowered with training and retraining.

For Whom:

This workshop is designed for Chief Finance Officers and Accounts Officers and others in related duties that want to improve on their accounting and finance skills for enhanced productivity. This course will equally benefit Medical Directors, Director of Administration, and Senior Officers in private hospitals, Clinics, Specialist Hospitals, Government Hospitals, involved in managing healthcare delivery system through the hospitals.

Learning Objectives:

At the end of the program, participants will be able to:

• define the term healthcare finance as it is used in this course;
• discuss the structure of finance department, the role of finance in health services organizations, and how this role has changed over time;
• discuss some of the regulatory and legal issues pertinent to the health services industry;
• list the key operational issues currently facing healthcare managers. Patient accounts

accounting for purchases & payments; and

• apply special accounting procedure for special purposes in hospitals management. 

Course Outline:

Day 1: Hospital Financial Management: Overview

• The role of finance in health services and organizations
• Overseeing all decision-making related to the accounting and financial functions for hospitals. 
• Implementing an integrated accounting and reporting system for the hospital. 
• Managing the hospital annual and special project budgeting process. 
• Complying with the ministry of health laid down procedures.

Day 2: Managing Hospital Investments

• Investment analysis and feasibility study for the hospital projects
• Preparing and Presenting financial information for Board of Director, and other Stakeholders
• Project Management and Control against the hospital budget
• Hospital tax planning by structuring for a new department /projects to save tax liabilities
• Business planning and risk management decisions for the hospital Managers
• Managing Relationships with stakeholders and Health Care authorities

Day 3: Managing Accounting & Finance Process and Procedures

• Monitor and direct the implementation of strategic business plans of the hospital
• Develop financial and tax strategies
• Manage the capital request and budgeting processes
• Manage the investor relations, legal health regulations, tax, and treasury departments
• Review and approve all filings with the Securities and Ministry of Health
• Monitor cash balances and cash forecasts of the hospital
• Arrange for the hospital debt and equity financing

Day 4: Managing the hospital business

• Business planning & forecasting patients’ inflow
• Performing investment analysis & setting hospital

Key Performance Indicators

• Managing Treasury function and

risk of all foreign transactions

• Preparing Management & Financial accounts

(patients & hospital suppliers)

• Controlling financial systems for hospitals
• Presenting hospital financial reports to

the Board of Directors

Day 5: Managing the Hospital Finance Department

• Developing financial systems and procedures

aligned with hospital business strategy.

• Ensuring that an appropriate financial framework is in

place to enable operational financial decision making of the hospital

• Advising and assisting with the preparation of hospital business plans, specifically in regard to forecasts, budgets, financial management, and business risk.  
• Managing finance and accounting hospital activities through

the preparation of accurate financial forecasts and appropriate planning.

• Preparing valid and accurate accounting and financial reports for the hospital managers
• Maintaining the hospital cash flow, monitoring taxation transactions and budgeting.
• Ensuring effective and efficient internal health control processes are in place.

Training Methodology

Lectures, discussions, exercises, and case studies will be used to reinforce these teaching/learning methods.