Impact Lives

NRHL 648 Financial Management and Resource Allocation

Credits: 
3
Prerequisites: 
NRHL 646

Format: Online
Duration: 8 weeks

As a nurse manager or nurse executive, you will be required to manage the financial operations within the healthcare organization.

In NRHL 648 Financial Management and Resource Allocation, you will explore financial theories and strategies to advance your ability to oversee complex healthcare projects. You will explore a variety of financial principles, including the law of supply and demand, market efficiency and redistribution of resources. You’ll share your knowledge and insights with fellow classmates and your instructor through relevant weekly discussions.

Along with weekly assignments and discussions, you'll complete 30-hours of a practicum experience with a selected preceptor. As you grow in the role of the nurse executive leader, you will apply your knowledge to continue developing a capstone project to improve healthcare outcomes.

What You’ll Learn in NRHL 648

In this course, you will learn how to contribute to the ethical financial decisions of healthcare organizations. You’ll explore strategic financial planning, financial statement analysis, budgeting and financial decision-making strategies. You will also examine funding sources and constraints, reimbursement, cost containment and marketing.

NRHL 648 emphasizes the importance of a strong working knowledge of financial and forecasting tools, key provider groups, service lines, economic principles and the interrelationship between healthcare quality, cost and access to services.

Course Topics

Throughout this course, weekly topics may include but are not limited to:

  • Financial Management and the Healthcare Environment
  • Application of Financial Accounting and Analysis of Statements
  • Determination of Healthcare Costs and Nursing Resources
  • Strategic Management and Budgeting Concepts
  • Budgeting Personnel Costs, Operating and Revenue Budgets
  • Healthcare Budgeting and Preparation
  • Short-term Financial Resources, Long-term Financial Resources and Forecasting
  • Financial Management and the Nurse Entrepreneur

Planning Your Time

*Source: Alumni Infographic.

Course Learning Outcomes

Upon successful completion of NRHL 648, you will be able to:

  • Examine current healthcare reform efforts specific to the Patient Protection and Affordable Care Act and the implications of legislation and public policy on the delivery of healthcare services.
  • Analyze the relationship between applied economics and the concepts of quality, cost and financing of healthcare.
  • Describe the essential operational aspects of the budgeting process and organizational planning.
  • Explore the interrelationship among leadership, strategic management and organizational success.
  • Discuss the role of nurse executive leader in the development of competitive nursing recruitment and retention strategies.
  • Synthesize the essential financial components of healthcare as it relates to the management of human, financial, technological and clinical resources.

*Disclaimer: Course content and outcomes may vary and are subject to change without notice.

Request More Information Today

To learn more about the online Master of Science in Nursing curriculum from Benedictine University, including Financial Management and Resource Allocation in Healthcare, call (866) 295-3104 to speak with a program manager or request more information.