Description
THE FOURTH EDITION
The Fourth Edition continues to provide practical information with examples taken from real life in the healthcare finance world. For example, we have added the following:
A new chapter about “Strategic Planning and the Healthcare Financial Manager.” This subject was suggested to us as a valuable addition to the book, and we took the suggestion. The chapter contains details about the planning process; examples of mission, vision, and value statements; and a governmental strategic planning cycle example. A new appendix contains “Sample SWOT Worksheets and Question Guides.”
A new case study about “Strategic Financial Planning in Long-Term Care.” The case study was written for us by Dr. Neil Dworkin. Dr. Dworkin is Emeritus Associate Professor of Management at Western Connecticut State University, where he taught strategic management, finance, marketing, health policy, and health delivery systems.
Two new and updated chapters about information systems, electronic health records (EHR), and their financial management. Substantial financial incentives and penalties are involved with the adoption or nonadoption of electronic health records. Multiple initiatives and staggered transition periods will affect facilities and eligible professionals over the next several years. These two chapters help managers understand what is at stake and how their roles fit within the transition.
A new chapter about “Electronic Health Records Framework: Incentives, Standards, Measures, and Meaningful Use.” This chapter explains how a major EHR incentive program in force today actually works. Many managers are thrown into working intensively with some aspect of these requirements. This chapter explains the program’s inner workings and provides examples.
New visuals, examples, multiple updates, and supplemental materials have been added throughout.
We have restructured the Metropolis Health System (MHS) case study information into a comprehensive suite of information. This section now includes the major case study followed by an appendix containing an MHS financial statement and excerpts from notes. A second appendix shows how an MHS hospital was turned around using comparative analysis. Then a mini-case study describes a proposal to add a retail pharmacy to an MHS hospital. The restructuring now provides an interactive suite of case study material.
New website links. The Fourth Edition website now provides website links for those who want to take a deeper look at some subjects. (The links can also be used as a springboard for additional assignments.)
In short, we have continued to work to reveal the basic tools of healthcare finance and make them usable.