Essentials of Health Care Organization Finance
A Primer for Board Members
Published on 24. September 2004
250 pages
978-0-7879-7650-7 (ISBN)
Description
"Finally! The book that all health care board members needed butwere afraid to ask for! Those dark days of staring atincomprehensible numbers during board meetings, of nervous noddingwhen their financially-literate brethren make comments or askquestions, of voting on things that they do not understand aregone! This book is long overdue and should be read by every trusteewho is not a finance professional."
--James E. Orlikoff, president, Orlikoff & Associates,Inc. and executive director, American Governance & LeadershipGroup
Accounting for $1.4 trillion in expenditures (13.7 percent ofgross domestic product), health care is one of the nation's largestand fastest growing industries. This concise, expertly writtenprimer on health care organization finance is a nuts and boltsguide to what has become every hospital's most sensitive topic.Health care organization board members must possess basic financialcompetence to govern effectively. This book will help them acquire,easily and painlessly, the basic financial literacy essential fordischarging their roles and fulfilling their fiduciary duties.
Reviews / Votes
"Finally! The book that all health care board members neededbut were afraid to ask for! Those dark days of staring atincomprehensible numbers during board meetings, of nervous noddingwhen their financially-literate brethren make comments or askquestions, of voting on things that they do not understand aregone! This book is long overdue and should be read by every trusteewho is not a finance professional." --James E. Orlikoff, president, Orlikoff & Associates, Inc. andexecutive director, American Governance & Leadership Group "Improving director financial literacy is key toincreasing the quality and effectiveness of health careorganization governance. Pointer and Stillman have written a'one-of-a-kind' book for board members--long-tenured ornew--needing a better grounding in the basics of accountingand finance." --Monte Dube, chairman, Health Law Department, McDermott, Will& Emery Attorneys-at-Law, Chicago, Illinois "This book is a must read for board members wholack grounding in the basics of accounting and finance or thoseneeding a refresher. It lifts the financial fog that many directorsexperience in their boardrooms." --R. Timothy Stack, president and CEO, Gregory Hurst, executivevice president and CFO, and Cahrles W. Wickliffee, board chair,Piedmont Medical Center, Atlanta, GeorgiaMore details
Other editions
Additional editions
Dennis D. Pointer | Dennis M. Stillman
Essentials of Health Care Organization Finance
A Primer for Board Members
Book
10/2004
1st Edition
Jossey-Bass
€63.90
Shipment within 10-20 days
Persons
Dennis D. Pointer is Austin Ross Professor at the Universityof Washington, School of Public Health and Community Medicine. Heis one of the country's most highly regarded governanceconsultants. Two of his previous books, Really Governing and BoardWork have won the James Hamilton Book of the Year Award from theAmerican College of Healthcare Executives.
Dennis M. Stillman is associate director, Program inHealth Services at the University of Washington where he teachesgraduate-level courses in accounting and finance. For twelve years,he was chief financial officer at the University of WashingtonMedical Center.
Content
List of Exhibits.
Foreword.
Preface.
About the Authors.
1. Governing.
Obligations.
Responsibilities.
Roles.
Governance Work.
Governance "Enablers".
In the Boardroom.
2. Financial Responsibilities.
Objectives.
Plans.
Monitoring and Assessing.
Controls and the Audit.
Organization.
In the Boardroom.
3. Health Care Industry Financial Structure andDynamics.
The Big Picture.
Health Insurance.
Voluntary Health Insurance.
Social Insurance (Medicare).
Welfare Insurance (Medicaid).
Health Maintenance Organizations.
4. Accounting Basics.
Accounting Principles.
Accounting Entity.
Accounting Period.
Monetary Unit.
Objectivity.
Accrual Accounting.
Materiality.
Full Disclosure and Transparency.
Conservatism, Consistency, and Comparability.
Accounting Value.
Accounting Equation.
Revenues.
Expenses.
Summary.
5. Reading Financial Statements.
Revenue/Expense Summary.
Balance Sheet.
Statement of Cash Flows.
In the Boardroom.
6. Analyzing Financial Statements and Overseeing FinancialPerformance.
Horizontal and Vertical Analyses.
Ratio Analysis.
Financial Oversight.
In the Boardroom.
7. Looking Forward: Vision, Strategies, Financial Plans, andBudgets.
The Vision and Strategic Planning.
Financial Planning.
Budgeting.
In the Boardroom.
8. Source of Funds: Financing.
Capital Structure.
Creditworthiness.
Long-Term Debt Financing.
In the Boardroom.
9. Use of Funds: Capital Investment.
Approaches.
Types of Capital Investment.
Financial Analysis of Capital Projects.
In the Boardroom.
10. Financial Integrity and Credibility.
Audit Committee.
The Audit.
Internal Controls.
Emerging Expectations and Standards.
In the Boardroom.
11. The Finale.
Admonitions.
Checklist.
Resources.
Appendix A: E. Polley Francis Hospital, Traditionally ConfiguredFinancial Statements.
Appendix B: Executive Summary of Sarbanes-Oxley Act Provisionsand NYSE Governance Rules.
Appendix C: E. Polley Francis Hospital, IllustrativeCode-of-Conduct Provisions.
Index.
