If you are currently working in the health care industry and feel that you need to expand your horizons, both personally and professionally, you might want to consider looking into the financial management side of health care.
Market trends are forcing hospitals to look at the managed care payments and be more proactive in sophisticated ways. Most healthcare managers are well trained in a clinical situation, but often lack the education and/or experience in business and finance.
This training is necessary for career advancement and personal growth. Most health care settings do not provide a financial management training program, and managers may feel ill at ease with the job of trying to understand complex financial data. By not being trained, a management level employee could miss an opportunity to take action that could make a significant difference to the organization’s financial success.
To become educated in financial management there are workshops available which cover topics like financial and accounting concepts specifically related to the healthcare industry; managing units costs; the impact of managed care on reimbursement levels; selecting financial performance indicators; and acquiring the necessary tools to demonstrate financial management capability.
There are publications like “Healthcare Financial Management” which is written and edited for finance professionals in hospitals and other health service organizations. This publication covers topics specific to healthcare finance, such as the following:
strategic planning accounting practices leadership development management issues information systems network development legislative and regulatory issues capital finance cost management patient financial services emerging financial trends
The articles in this publication are directed toward individuals responsible for all facets of the financial management of healthcare organizations.
There are also several options to obtain further education applicable to the healthcare financial management field. You can continue on in your present employment and get a degree online through Jones International University, where you can obtain an MBA in Healthcare Financial management.
It can all be done in the comfort of your own home, on your own time. Capella University, University of Phoenix and Colorado Technical University offer online course in healthcare management, which will give you the theory, practical application and real world case studies to let you advance in the field.
As you can see, there are several avenues available to further yourself in this important part of the health care industry. It is important to be part of the group that improves the bottom line of a hospital or health care management company, a person who is seen as innovative and on the cutting edge. Don’t wait. Be that person tomorrow!