Essay 400845: Health Financial Management – Health and Aged Care Services – Health Assignment Help

Assignment Task:

An Introduction to this Unit:

This unit provides health leaders with an introduction to financial management in health and aged care settings as a basis for understanding the impact of leadership decision-making on financial outcomes and how financial decision-making impacts on clinical service delivery. Content includes an overview of health economics and economic evaluation, health care funding models, the principles, practices and tools for ?financial planning and management, basic accounting principles and ?financial terminology and using ? financial information and reporting for negotiating ?financial plans, tracking and evaluating ?financial performance and using ?financial information in decision-making within the clinical environment.

Unit Learning Outcomes:
Becoming a professional in this ?eld requires a fundamental understanding of health funding issues and ?nancial reporting practices. This unit aims to introduce the understanding of ?nancial conventions necessary to be an e?ective health manager. Upon successfully completing this unit, students will be able to:

Outcome:
Be able to critically examine di?erent funding arrangements used internationally, and/or between the Commonwealth and the States in Australia for health and aged care services

1. Be aware of recent reforms in funding, including government funding, non-government funding, the user pays, and current and future issues in financing
2. Understand basic accounting principles and the language of ? financial reporting
3. Understand ? financial management issues, such as accounting for overheads, capital assets, short and long-term liabilities and depreciation
4. Critically analyse the reporting systems used by health and aged care organisations, including budget statements
5. Prepare budgets and economic appraisals of funding options
6. Understand how health information is used to develop performance indicators for the management of cost centres, be able to analyse budget variances and evaluate options eg in response to budget blowouts
7. Prepare an application for funding, with consideration of o?sets and alternative funding strategies