Lecture 1
Financial Management
Introduction & value-based health care
What is financial management
… planning, organizing, directing and controlling
the organization’s financial activities
in an efficient and effective way
such that the organization’s objectives are met.
What are we teaching
As a manager in health care, you may come across questions like:
• Shall we invest in new equipment? Which investment alternative shall we
pick?
• How many services to provide? What type of services to provide? Shall we
provide service X ourselves?
• How shall we assign responsibilities? Who should be held accountable for
what?
And these questions have consequences for
• The patients health service delivery process
• The organization’s operations and financial activities
Aim
By the end of the course:
… you can understand generic concepts of FM
… you can apply selected analysis methods related to FM
… you can critically evaluate and design solutions for FM questions
in order to sustainably provide the value of health to patients!
Case studies are focused on the problem definition, analysis and diagnosis, and the solution
design.
1
Financial Management
Introduction & value-based health care
What is financial management
… planning, organizing, directing and controlling
the organization’s financial activities
in an efficient and effective way
such that the organization’s objectives are met.
What are we teaching
As a manager in health care, you may come across questions like:
• Shall we invest in new equipment? Which investment alternative shall we
pick?
• How many services to provide? What type of services to provide? Shall we
provide service X ourselves?
• How shall we assign responsibilities? Who should be held accountable for
what?
And these questions have consequences for
• The patients health service delivery process
• The organization’s operations and financial activities
Aim
By the end of the course:
… you can understand generic concepts of FM
… you can apply selected analysis methods related to FM
… you can critically evaluate and design solutions for FM questions
in order to sustainably provide the value of health to patients!
Case studies are focused on the problem definition, analysis and diagnosis, and the solution
design.
1
