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Healthcare Finance: An Introduction To Accounting And Financial Management

ISBN: 9781567932324 | 1567932320
Edition: 3rd
Format: Hardcover
Publisher: HEALTH ADMINISTRATION PRESS
Pub. Date: 9/1/2004

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Table of Contents
Prefacexiii
PART I The Healthcare Environment
Introduction to Healthcare Finance
3(18)
Defi... MORE
3(2)
Purpose of the Book
5(1)
The Role of Finance in Health Services Organizations
6(2)
Health Services Settings
8(6)
Regulatory and Legal Issues
14(2)
Organization of the Book
16(1)
How to Use This Book
17(4)
The Financial Environment
21(32)
Alternative Forms of Business Organization
21(5)
Alternative Forms of Ownership
26(3)
Organizational Goals
29(3)
Tax Laws
32(2)
Third-Party Payers
34(3)
Managed Care Plans
37(2)
Alternative Reimbursement Methods
39(14)
PART II Financial Accounting
Financial Accounting Basics and the Income Statement
53(34)
Historical Foundations of Financial Accounting
54(1)
The Users of Financial Accounting Information
55(1)
Regulation and Standards in Financial Accounting
56(3)
Basic Concepts of Financial Accounting
59(3)
Accounting Methods: Cash Versus Accrual
62(3)
Recording and Compiling Accounting Data
65(2)
Income Statement Basics
67(2)
Revenues
69(4)
Expenses
73(3)
Net Income
76(2)
Net Income Versus Cash Flow
78(1)
Income Statements of Investor-Owned Firms
79(1)
A Look Ahead: Using Income Statement Data in Financial Statement Analysis
80(7)
The Balance Sheet and Statement of Cash Flows
87(34)
Balance Sheet Basics
88(2)
Assets
90(6)
Liabilities
96(2)
Equity
98(4)
Fund Accounting
102(1)
The Statement of Cash Flows
102(4)
Transactions
106(5)
Another Look Ahead: Using Balance Sheet Data in Financial Statement Analysis
111(10)
PART III Managerial Accounting
Managerial Accounting Basics, Cost Behavior, and Profit Analysis
121(36)
The Basics of Managerial Accounting
121(2)
Cost Classifications: Fixed and Variable
123(1)
Cost Behavior
124(3)
Cost Classifications: Semi-Fixed
127(1)
Profit (CVP) Analysis
128(5)
Breakeven Analysis
133(3)
Operating Leverage
136(2)
Profit Analysis in a Discounted Fee-for-Service Environment
138(5)
Profit Analysis in a Capitated Environment
143(7)
The Impact of Cost Structure on Financial Risk
150(7)
Cost Allocation
157(30)
Direct Versus Indirect (Overhead) Costs
157(1)
Introduction to Cost Allocation
158(1)
Cost Allocation Basics
159(3)
Cost Allocation Methods
162(2)
Direct Method Illustration
164(7)
The Impact of Changing Cost Drivers
171(3)
Step-Down Method Illustration
174(2)
Activity Based Costing
176(4)
Final Thoughts on Cost Allocation
180(7)
Pricing and Service Decisions
187(32)
Healthcare Providers and the Power to Set Prices
188(1)
Price Setting Strategies
189(2)
Target Costing
191(1)
Setting Prices on Individual Services
192(1)
Setting Prices Under Capitation
193(8)
Setting Managed Care Plan Premium Rates
201(5)
Using Relative Value Units (RVUs) to Set Prices
206(2)
Making the Service Decision (Contract Analysis)
208(11)
Planning and Budgeting
219(34)
The Planning Process
220(3)
Introduction to Budgeting
223(1)
Budget Types
223(3)
Budget Decisions
226(2)
Constructing a Simple Operating Budget
228(3)
Variance Analysis
231(8)
The Cash Budget
239(14)
PART IV Basic Financial Management Concepts
Time Value Analysis
253(34)
Time Lines
254(1)
Future Value of a Lump Sum (Compounding)
255(4)
Present Value of a Lump Sum (Discounting)
259(2)
Opportunity Costs
261(2)
Solving for Interest Rate and Time
263(2)
Annuities
265(3)
Perpetuities
268(1)
Uneven Cash Flow Streams
269(3)
Using Time Value Analysis to Measure Financial Returns
272(4)
Semiannual and Other Compounding Periods
276(3)
Amortized Loans
279(8)
Financial Risk and Required Return
287(38)
The Many Faces of Financial Risk
288(1)
Introduction to Financial Risk
289(1)
Risk Aversion
290(1)
Probability Distributions
291(1)
Expected and Realized Rates of Return
292(1)
Stand-Alone Risk
293(2)
Portfolio Risk and Return
295(9)
Measuring the Risk of Investments Held in Portfolios
304(5)
Portfolio Betas
309(1)
Relevance of the Risk Measures
310(2)
Interpretation of the Risk Measures
312(1)
The Relationship Between Risk and Required Return
312(13)
PART V Long-Term Financing
Long-Term Debt Financing
325(34)
The Cost of Money
325(2)
Common Long-Term Debt Instruments
327(4)
Debt Contracts
331(2)
Bond Ratings
333(2)
Credit Enhancement
335(1)
Interest Rate Components
335(4)
The Term Structure of Interest Rates
339(2)
Debt Valuation
341(18)
Equity Financing
359(30)
Equity in For-Profit Businesses
359(3)
Types of Common Stock
362(1)
Procedures for Selling New Common Stock
363(2)
The Market for Common Stock
365(2)
Regulation of Securities Markets
367(2)
The Investment Banking Process
369(2)
Equity in Not-for-Profit Businesses
371(2)
Common Stock Valuation
373(6)
Security Market Equilibrium
379(1)
Informational Efficiency
380(3)
The Risk/Return Trade-Off
383(6)
Capital Structure and the Cost of Capital
389(36)
Capital Structure Basics
389(1)
Impact of Debt Financing on Accounting Risk and Return
390(3)
Capital Structure Theory
393(3)
Identifying the Optimal Capital Structure in Practice
396(2)
Not-for-Profit Businesses
398(1)
Cost of Capital Basics
399(2)
Cost of Debt Capital
401(2)
Cost of Equity Capital
403(9)
The Corporate Cost of Capital
412(2)
An Economic Interpretation of the Corporate Cost of Capital
414(11)
PART VI Capital Investment Decisions
The Basics of Capital Budgeting
425(36)
Importance of Capital Budgeting
425(1)
Project Classifications
426(1)
The Role of Financial Analysis in Healthcare Capital Budgeting
427(1)
Overview of Capital Budgeting Financial Analysis
428(1)
Cash Flow Estimation
428(7)
Cash Flow Estimation Example
435(7)
Breakeven Analysis
442(1)
Profitability (Return on Investment) Analysis
443(3)
Some Final Thoughts on Breakeven and Profitability Analyses
446(1)
Capital Budgeting in Not-for-Profit Businesses
446(3)
The Post Audit
449(1)
Using Capital Budgeting Techniques in Other Contexts
450(11)
Project Risk Assessment and Incorporation
461(30)
Types of Project Risk
462(2)
Relationships Among Stand-Alone, Corporate, and Market Risk
464(1)
Risk Analysis Illustration
464(1)
Sensitivity Analysis
465(4)
Scenario Analysis
469(3)
A Subjective Approach to Risk Assessment
472(1)
Incorporating Risk Into the Decision Process
472(3)
Making the Final Decision
475(1)
Adjusting Cash Outflows for Risk
476(2)
Subsidiary Costs of Capital
478(1)
An Overview of the Capital Budgeting Decision Process
479(2)
Capital Rationing
481(10)
PART VII Other Topics
Current Asset Management and Financing
491(36)
An Overview of Short-Term Financial Management
491(2)
Current Asset Investment and Financing Policies
493(5)
Cash Management
498(3)
Marketable Securities Management
501(1)
Long-Term Securities Management
502(1)
Receivables Management
503(5)
Supply Chain Management
508(2)
Short-Term Financing
510(17)
Analyzing Financial Performance
527(34)
The Statement of Cash Flows
528(3)
Ratio Analysis
531(11)
Tying the Ratios Together: Du Pont Analysis
542(2)
Other Analytical Techniques
544(1)
Market Value Added and Economic Value Added
545(2)
Benchmarking
547(2)
Operating Indicator Analysis
549(2)
Limitations of Financial Performance Analysis
551(10)
Lease Financing and Business Valuation
561(30)
Leasing Basics
561(2)
Tax Effects
563(2)
Balance Sheet Effects
565(2)
Lease Evaluation
567(7)
Motivations for Leasing
574(4)
Business Valuation
578(13)
Index591(12)
About the Author603

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