Learn the fundamentals of financial acumen to help your make the case for greater investment in infection prevention and control in your facility.

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ABOUT THE COURSE

The “business” of healthcare can be challenging, but understanding fundamentals of finance can help you overcome any challenges you may come across. Learn how to speak to your administrators to get support for you infection prevention and control (IPC) program, and get the tools and resources to prepare the materials you need to make your care.

Learning Objectives

At the conclusion of the program, participants will be able to:

• Explain the hospital business model from volume to revenue
• Explain the implications of population health initiatives
• Describe revenue and cost behavior
• Prepare financial analyses supportive of making the business case
• Evaluate competing alternatives
• Develop a compelling business proposal
• Make an effective presentation to hospital decision makers

COURSE MODULES

Module 1: The Hospital Business Model

Topics include:

• Converting Volume to Profit
• Operating Cost and Cost Behavior
• Reimbursement Schemes
• Population Health Impact
• Practitioner Impact on Financial Performance

Module 2: Financial Analysis Tools

Topics include:

• Marginal Profit and Loss Analysis
• Benefit/Cost Analysis
• Return on Investment

Module 3: Evaluating Options
Topics include:

• Comparative Effectiveness Analysis
• Choosing the Best of Several Options

Module 4: Describing and Presenting Your Idea

Topics include:

• Describing the initiative and its benefits
• The financial case
• Implementation plan
• Communicating effectively

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meet the instructor

William J. (Bill) Ward, Jr., MBA, is an associate professor of health finance and management at the Johns Hopkins Bloomberg School of Public Health, an associate professor of nursing at the Johns Hopkins School of Nursing and the former Director of the Master of Health Administration Degree Program and the Sommer Scholars Public Health Leadership Program. He is a guest lecturer at Singapore Management University where he teaches in their week-long J&J-sponsored hospital management program. For over 20 years, he taught financial management at the University of Maryland’s School of Nursing and continues to guest lecture there.

Prior to his 20-year academic career, Ward held operational and financial executive positions in healthcare. He has provided a variety of consultative services throughout the United States and has worked on projects overseas in the Caribbean, Latin America, Asia and the Middle East. He serves on the Boards of several health systems in the US and the UAE. Professional affiliations include the Healthcare Financial Management Association and the American College of Healthcare Executives.

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This program is mapped to the APIC’s IP Competency Model. This model describes the knowledge, skills, and behaviors considered key to advancement and guides IPs toward areas of professional development throughout all career stages. Click here to view the full model.

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Paying by credit card? Please register for your course directly online as the fastest way to pay for and receive access to your course. Credit card payment by phone is possible. Contact eLearning@apic.org to schedule a time to make the payment.

Bulk sales are also available, email APIC’s eLearning team for more information.