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Doody's Review ServiceReviewer: David G. Yeager, MBA (Creighton University)
Description: Strong theoretical protocols are presented with a textbook approach to sample cases in healthcare finance.
Purpose: The purpose is to provide MBA students with a realistic thought process so that they can consider the myriad of data elements prior to drawing conclusions and choosing a specific course of action.
Audience: This book is geared to the MBA student.
Features: A strong theoretical framework for understanding healthcare organization finance is presented. The practical aspects of "real-life" scenarios can provide additional insight and value, however, to the theoretical approach utilized in this book. For example, the section "Assessing Hospital Performance" is focused on hospital performance through ratio analysis. While the ratio analysis approach is theoretically sound, one must fully understand the reasons why these ratios do not fall within predefined guidelines (e.g., problems with a managed care payer, difficulty in all parties understanding contractual language, payment disputes, staffing inefficiencies, employee morale issues, staffing shortages, lack of consigned products, etc.). Furthermore, given the current financial problems of the hospital industry, careful attention must be given to the setting and circumstances under which hospitals are being compared.
Assessment: If possible, this book should be combined with parallel student projects with local hospitals to better prepare the student for entry into healthcare finance.