NURS 607 - Finance and Economics in Healthcare

Credit Hours: 3
Lecture Hours: 3
Laboratory (or Other) Hours: 0

Prerequisite(s): NURS 500 , NURS 502 , ALHT 500 and ALHT 501.
Restriction(s): Restricted to MS Nursing Administration majors.

Corequisite(s): None.

Students in the course learn about the fundamentals of finance and budgeting in healthcare delivery. They apply financial principles, such as budgeting processes used in multiple healthcare settings and the nurse administrator’s responsibilities within the context of leading and managing resources. Through these applications, students explore budget development and management of operational and capital resources. They examine the influence of private and public policies and budgeting models that effect quality outcomes within the aspect of financial planning using information systems. Student also explore budget and resource decisions contributing to the achievement of organizational outcomes within the context of providing efficient and cost-effective quality care.

Student Learning Outcomes of the Course:

Analyze cost, revenue, and expense data related to financial operations for a healthcare unit, division and organization.
Evaluate methods such as forecasting used for the development of capital and operating budgets for nursing/healthcare services.
Synthesize key issues impacting decision making in healthcare resource management and the intricate relationships among healthcare financing, costs, and quality of care.