Fundamentals of Health Care Financial Management: A Practical Guide to Fiscal Issues and Activities / Edition 3

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In this thoroughly revised and updated third edition of Fundamentals of Health Care Financial Management, consultant and educator Steven Berger offers a practical step-by-step approach to understanding the fundamental theories and relationships guiding financial decisions in health care organization. Set in a fictional mid-sized hospital, the book is written in diary form, taking the reader into the inner workings of the finance executive's office. This introduction to the most-used tools and techniques of health care financial management includes health care accounting and financial statements; managing cash, billings and collections; making major capital investments; determining cost and using cost information in decision-making; budgeting and performance measurement; and pricing. As in the previous editions, this book introduces key practical concepts in fundamental areas of financial management.

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Product Details

  • ISBN-13: 9780787997502
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 1/2/2008
  • Edition description: New Edition
  • Edition number: 3
  • Pages: 516
  • Sales rank: 1,232,083
  • Product dimensions: 5.98 (w) x 9.11 (h) x 1.37 (d)

Meet the Author

Steven Berger is the founder and president of Healthcare Insights, LLC, which specializes in the teaching of health care general and financial management issues. Healthcare Insights has also created INSIGHTS, the health care industry's best practice decision support software. With more than thirty years experience in the field, he presents health care finance and general management seminars throughout the United States and Canada. He is the author of numerous books and articles on the topic of health care finances.

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Table of Contents

Tables, Figures, and Exhibits.



The Author.


What Is Health Care?

What Is Management?

What Is Financial Management?

Why Is Financial Management Important?

Ridgeland Heights Medical Center: The Primary Statistics.

Pro Forma Development.

Living with the Finance Committee and Board of Directors’ Calendar.

Year-End Closing.


Accounting Principles and Practices.

Objectives of Financial Reporting.

Basic Accounting Concepts.

Basic Financial Statements of a Health Care Organization.

Uses of Financial Information.

The Financial Statements.

Preparing for the Auditors.

Analysis of Sensitive Accounts.

February Finance Committee Special Reports.


Strategic Financial Planning: Five-Year Projections.

RHMC Strategic Financial Planning.

Ratio Analysis.

The Capital Plan and Its Relationship to the Strategic Plan.


Medicare and Medicaid Net Revenue Concepts.

Calculation of Medicare and Medicaid Contractual Adjustments.

Implications of the Balanced Budget Act of 1997.

Implication of the Medicare Modernization Act of 2003.

Managed Care Net Revenue Concepts.

Preparation of the Medicare and Medicaid Cost Report.

Ratio of Costs to Charges.

Presentation of the Audited Financial Statements to the Finance Committee.


Fundamentals of Revenue Cycle Management.

Patient Registration: To Which Division Should It Report?

Calculation of the Allowance for Doubtful Accounts and Bad-Debt Expense.

Calculation of the Allowance for Contractual Adjustments.


Budget Preparation: The Beginning.

Budget Calendar.

Volume Issues.

Capital Budgeting: June.

Accounting and Finance Department Responsibilities.

June Finance Committee Special Agenda Items.


Budget Preparation: The Middle Months.

Capital Budgeting: July.

Regulatory and Legal Environment.

Other Regulatory and Business Compliance Issues.

Corporate Compliance.

Accreditation Issues.

Patient Satisfaction Issues.


Capital Budget: August.

Operating Budget.

Budget Variance Analysis.

Budget Variance Parameters.

Flexible Budgeting.

Cost Accounting and Analysis.

August Finance Committee Special Agenda Items.


Operating Budget.

Capital Budget: September.

Cash Budget.

Physician Practice Management Issues.


Information Systems Implications for Health Care Financial Management.

Information Technology Strategic Plan Initiatives.

HIPAA Implementation Issues.

Selection of a New Health Care Information System.

Budget Presentation to the Board Finance Committee.

October Finance Committee Special Agenda Items.


Preparation of the Budget Results and Delivery to the Department Managers.

Budgeting and Spreading Contractual Adjustments by Department.

Issues Involving RHMC’s Cost Structure.

How to Improve the Organization’s Cost Structure.

Supply Chain Management in Health Care.

Benefi ts of Tax Status for Health Care Organizations.

Preparation and Implications of the Annual IRS 990 Report.


Getting Ready for Year-End Reporting—Again.

Open-Heart Surgery Pro Forma.

December Finance Committee Special Agenda Items.

Looking into the Future of Health Care Finance.



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