ULMS Electronic Module Catalogue

The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title Healthcare Finance
Code MGTK716
Coordinator Mr KMJ Maguire
Finance and Accounting
Kieran.Maguire@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2020-21 Level 7 FHEQ Whole Session 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):

 

Modules for which this module is a pre-requisite:

 

Programme(s) (including Year of Study) to which this module is available on a required basis:

 

Programme(s) (including Year of Study) to which this module is available on an optional basis:

 

Teaching Schedule

  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours   2

      24

26
Timetable (if known)              
Private Study 124
TOTAL HOURS 150

Assessment

EXAM Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
             
CONTINUOUS Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Individual Video Presentation Reassessment Opportunity: repeat assignment with the same brief. Penalty for Late Submission: Standard UoL penalty applies Anonymous Assessment: No  10 minutes    20       
Discussion Board Contribution Reassessment Opportunity: via a 350 word reflective report. Penalty for Late Submission: Standard UoL penalty applies Anonymous Assessment: No  -350 words    10       
Financial Analysis Reassessment Opportunity: repeat assignment with the same brief. Penalty for Late Submission: Standard UoL penalty applies Anonymous Assessment: Yes  -2000 words    60       
Presentation Discussion Reassessment Opportunity: a 350 word report. Penalty for Late Submission: Standard UoL penalty applies Anonymous Assessment: No  -350 words    10       

Aims

This module aims to:

Give students an understanding of the core components of a set of financial statements in terms of assets, liabilities, equity income profit and costs;

Provide students with the ability to examine the regulation of healthcare organisations and the challenges in developing and implementing financial controls;

Provide students with the opportunity to critically assess a set of financial statements and comment upon the financial strengths, weaknesses and risks associated with an individual healthcare organisation;

Equip students with the skills to make effective decisions using a pragmatic, evidence-based approach;

Develop students’ ability to assess the financial viability of a healthcare organisation using a variety of methods.


Learning Outcomes

(LE1) Commercially aware.
Students will demonstrate commercial awareness through their understanding of financial statements and how they are linked to internal and external stakeholders.

(LE2) Organised and able to work under pressure.
This will be evident in the students’ independent management of their assignments and by meeting coursework deadlines.

(LO1) Students will be able to demonstrate understanding of the components of a balance sheet and their interaction, within a healthcare setting.

(LO2) Students will be able to demonstrate understanding of the components of a profit or loss account/income statement and the concept of breakeven and profitability within healthcare.

(LO3) Students will be able to demonstrate understanding of the importance of cash to a healthcare organisation and how cash flows differ from profits.

(LO4) Students will be able to analyse and explain, using financial and non-financial metrics and relationships, the accounts of a healthcare organisation.

(LO5) Students will be able to assess the financial viability of a healthcare organisation using differing methodologies and analyse the risks involved in such models and methods.

(LO6) Students will be able to evaluate the motives, benefits and drawbacks of having financial controls in relation to assess the financial viability of healthcare organisations that are different from those of other organisations.

(LO7) Students will be able to make effective decisions using a pragmatic, evidence-based approach.

(LR1) Ethically aware.
Ethical awareness skills will be developed by looking at the legal and institutional rules in relation to financial controls and how some involved may seek to circumvent these rules.

(LRE1) An excellent verbal and written communicator.
Communication skills will be developed through being able to discuss and explain the financial statements of a healthcare organisation and the relationships within those statements.

(LRE2) Numerate.
Numeracy skills will be developed through the use of ratio analysis and KPI’s when reviewing and summarising financial statements.

(LRE3) IT literate.
IT skills will be used when using spreadsheets and financial forecasts to assess financial viability of healthcare organisations.

(LRE4) Internationally aware.
Students from diverse international backgrounds will have the opportunity to engage and collaborate with each other, enabling a rich understanding of global healthcare and developing skills in cross cultural working.


Teaching and Learning Strategies

The Learning and Teaching Strategy has been guided by the Curriculum 2021 Framework, Attributes, and Hallmarks, and as such, all module content will be informed by current and cutting-edge research in the relevant subject area(s). The module has been designed with a focus on global citizenship, by ensuring that students are given the opportunity to collaborate with their peers. This will enable students to build their confidence by sharing their own experiences, as well as helping them to understand how their learning might be applied to different healthcare settings and international contexts.

The module will primarily be delivered through eight e-lectures/seminars. The e-lectures will consist of podcasts covering key concepts alongside e-seminars that will consist of individual online tasks, case studies and discussion boards which will be used to develop and apply learning to healthcare organisations and the students’ own work contexts and to reflect on this. These w ill be moderated by the module instructor to ensure individual and group feedback. Students will also be directed to key academic and practitioner readings to further develop their learning.

Unscheduled Directed Student Hours: 24 hours

Description: The e-Lectures/seminars will equate to 3 hours/week over 8 weeks, undertaken asynchronously.
Attendance Recorded: Yes – tracked via the learning platform.

Additionally, one scheduled synchronous seminar will be delivered (if there are issues with time zones another seminar will be provided).

Scheduled Directed Student Hours: 2 hours

Description: The scheduled seminar will equate to 2 hours undertaken synchronously. The date and time of the seminar will be confirmed at the start of the module.
Attendance Recorded: Yes – tracked via the learning platform.

Self-Directed Learning Hours: 124 hours

Description: This will involve directed and independent reading, independent research i nto healthcare organisations and assessment preparation.


Syllabus

 

Core components of financial statements: assets, liabilities, equity income profit and costs.

Concept of profitability and breakeven in relation to private and non-profit making healthcare organisations.

Differences between profit and cash flows.

Analysis of financial statements within healthcare organisations using financial metrics and key performance indicators to identify financial and non-financial trends.

Regulation of healthcare organisations and the challenges in developing and implementing financial controls.

Ownership models: healthcare versus financial achievements.
Funding and sourcing finance in healthcare.


Recommended Texts

Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.