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Doody's Review ServiceReviewer: Helen Ewing, DHSc, MN, RN (A. T. Still University)
Description: This book provides a detailed review of important financial theory for healthcare businesses, addressing all the main financial principles required to effectively manage any size budget in a healthcare organization.
Purpose: The purpose is to describe the theory and skills needed to make effective and appropriate healthcare business decisions based on the knowledge and understanding of financial principles and processes.
Audience: The ideal audience is people currently in healthcare leadership positions responsible for budget oversight, as well as those aspiring to management and decision-making roles. The book would also be an excellent resource for students learning about the principles of healthcare management and finances.
Features: The book is well organized with established learning objectives to guide readers. Self-test questions are presented throughout to cue learners to important points. Chapters make excellent use of textboxes, with a section for key concepts at the end of each one to highlight the most important concepts. Case studies from the health business world provide real-world examples and the opportunity to apply the concepts immediately. Practical examples of various documents are presented, such as the income statement, balance sheet, and statement of cash flow, to familiarize those that have not seen these tools and worksheets previously. The chapters end with questions and problems to promote additional critical thinking. A glossary at the end of the book provides a detailed terminology reference. Visually, the content is easy to review with good use of white space, bolding, and textboxes. The text is clearly written and fully defines all terms and divides the concepts into management sections for effective learning.
Assessment: This is a useful tool for healthcare leaders who would like to enhance and build upon their financial management skills, critical in today's healthcare organizations where cost containment is crucial. This is an excellent resource to assist with developing superior financial management skills.