Fundamentals of Healthcare Finance, Fourth Edition

Financial realities play an important role in many, if not most, management decisions made in healthcare organizations. Financial acumen is a critical professional competency for all healthcare managers, regardless of the functional area or setting they work in. Fundamentals of Healthcare Finance provides a solid grounding in the principles and tools of accounting and finance that managers use daily. From planning and budgeting to risk analysis and financial reporting, core concepts are clearly explained and supported by real-world examples. This fourth edition has been updated throughout to reflect the most recent payment models and current financial accounting standards. A new chapter describes the role that internal control and governance play in ensuring the accuracy of financial information, as well as strategies for identifying and preventing errors and fraud.

Paula H. Song, PhD, is the Richard M. Bracken Professor and Chair of the Department of Health Administration in the College of Health Professions at Virginia Commonwealth University. Her research and teaching interests cover areas such as healthcare financial management, investment strategies in not-for-profit hospitals, payment reform, and business case evaluation for health initiatives. Dr. Song received a doctorate in health services organization and policy as well as master’s degrees in health services administration and applied economics from the University of Michigan in Ann Arbor. She h Kristin L. Reiter, PhD, is a professor and associate chair in the Department of Health Policy and Management of the Gillings School of Global Public Health at the University of North Carolina at Chapel Hill, where she specializes in healthcare finance. She is also a research fellow in the Cecil G. Sheps Center for Health Services Research and an investigator with the North Carolina Rural Health Research Program, both at the University of North Carolina at Chapel Hill. Prior to joining academia, Dr. Reiter worked in public accounting, serving not-for-profits and clients in the insurance industr