Financial Management in Healthcare Is the disciplined process of planning, directing, and controlling the financial resources of a hospital or health organization to ensure sustainability, efficiency, and quality patient care. It connects clinical priorities with fiscal responsibility — balancing the mission to serve patients with the need to use public funds efficiently.

Healthcare financial management is not just about balancing the books — it’s about ensuring that every dollar spent improves patient outcomes, operational efficiency, and long-term viability. It connects finance with strategy, governance, and care quality to create a resilient, accountable health system.

Key Components:

• Budgeting and Planning
• Financial Reporting
• Revenue Management
• Cost Control
• Capital Management
• Performance Measurement

This is a required course for the Certificate in Clinical Leadership and Management program.

This course includes instructor-led interactive online Zoom sessions, as well as weekly modules on the MichBrite Learning Management System.

Upon successful completion of the course, the Learner will be able to:

• Interpret financial reports and annual business plans to make informed decisions, evaluate organizational performance, and contribute to strategic planning and accountability.Design quality improvement initiatives using evidence-based tools to measure, interpret, and improve healthcare outcomes.
• Apply effective financial management to budgeting and resource planning practices to ensure efficient allocation of resources, support strategic decision-making, while enhancing organizational sustainability and performance.
• Analyze capital acquisition and funding models in healthcare, including the structure and content of contracts, to ensure responsible financial oversight by management.
• Manage department-level financial performance to promote fiscal responsibility, optimize resource utilization, and support the achievement of organizational goals.