Essentials of Health Care Organization Finance. A Primer for Board Members

  • ID: 2243862
  • Book
  • 208 Pages
  • John Wiley and Sons Ltd
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Praise for Essentials of Health Care Organization Finance

"Finally! The book that all health care board members needed but were afraid to ask for! Those dark days of staring at incomprehensible numbers during board meetings, of nervous nodding when their financially–literate brethren make comments or ask questions, of voting on things that they do not understand are gone! This book is long overdue and should be read by every trustee who is not a finance professional."
James E. Orlikoff, president, Orlikoff & Associates, Inc. and executive director, American Governance & Leadership Group

"Improving director financial literacy is key to increasing the quality and effectiveness of health care organization governance. Pointer and Stillman have written a ‘one–of–a–kind’ book for board members long–tenured or new needing a better grounding in the basics of accounting and finance."
Monte Dube, chairman, Health Law Department, McDermott, Will & Emery Attorneys–at–Law, Chicago, Illinois

"This book is a must read for board members who lack grounding in the basics of accounting and finance or those needing a refresher. It lifts the financial fog that many directors experience in their boardrooms."
R. Timothy Stack, president and CEO, Gregory Hurst, executive vice president and CFO, and Charles W. Wickliffee, board chair, Piedmont Medical Center, Atlanta, Georgia

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List of Exhibits.



About the Authors.

1. Governing.




Governance Work.

Governance Enablers .

In the Boardroom.

2. Financial Responsibilities.



Monitoring and Assessing.

Controls and the Audit.


In the Boardroom.

3. Health Care Industry Financial Structure and Dynamics.

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.


Accrual Accounting.


Full Disclosure and Transparency.

Conservatism, Consistency, and Comparability.

Accounting Value.

Accounting Equation.




5. Reading Financial Statements.

Revenue/Expense Summary.

Balance Sheet.

Statement of Cash Flows.

In the Boardroom.

6. Analyzing Financial Statements and Overseeing Financial Performance.

Horizontal and Vertical Analyses.

Ratio Analysis.

Financial Oversight.

In the Boardroom.

7. Looking Forward: Vision, Strategies, Financial Plans, and Budgets.

The Vision and Strategic Planning.

Financial Planning.


In the Boardroom.

8. Source of Funds: Financing.

Capital Structure.


Long–Term Debt Financing.

In the Boardroom.

9. Use of Funds: Capital Investment.


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.




Appendix A: E. Polley Francis Hospital, Traditionally Configured Financial Statements.

Appendix B: Executive Summary of Sarbanes–Oxley Act Provisions and NYSE Governance Rules.

Appendix C: E. Polley Francis Hospital, Illustrative Code–of–Conduct Provisions.


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Dennis D. Pointer is Austin Ross Professor at the University of Washington, School of Public Health and Community Medicine. He is one of the country s most highly regarded governance consultants. Two of his previous books, Really Governing and Board Work have won the James Hamilton Book of the Year Award from the American College of Healthcare Executives.

Dennis M. Stillman is associate director, Program in Health Services at the University of Washington where he teaches graduate–level courses in accounting and finance. For twelve years, he was chief financial officer at the University of Washington Medical Center.

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