Gain the finance and management skills needed to advance your career in the health care industry.
The advanced certificate in health care finance is an ideal way for health care professionals to deepen their understanding of health care financial management. The four-course, 12 credit hour curriculum supports student understanding how the US health care system is financed, the impact of efforts to reform the system, as well as the development of financial management skills within for-profit and not-for-profit health care organizations. To meet the needs of working professionals, courses in this advanced certificate are available online.
The advanced certificate may serve as a stand-alone credential, or, at a later date be applied to the MS program in health systems management.
What is a graduate certificate?
A graduate certificate, also called an advanced certificate, is a selection of up to five graduate level courses in a particular area of study. It can serve as a stand-alone credential that provides expertise is a specific topic that enhances your professional knowledge base, or it can serve as the entry point to a master's degree. Some students complete an advanced certificate and apply those credit hours later toward a master's degree.
Health Care Finance, advanced certificate, typical course sequence
Sem. Cr. Hrs.
Health Care Economics and Policy
This course provides an examination of the roles and responsibilities of policy makers on the health care system and the resulting economic impact of their policies. Students will compare and contrast the regulatory functions of varying levels of government, the political process and economic impacts as they relate to health care systems as well as examine control issues, economic functions and regulatory trends in the United States. In addition, an assessment will be made of national health systems and national health policies of other countries as they compare to the United States.
Health Care Financial Management I: Principles & Practice
This course provides a basic understanding of health services financial management. We begin with elementary accounting concepts and then focus on financial statement preparation and analysis. Special topics areas include discounted cash flow, risk, capital investments evaluation, debt/equity financing, and financial decision making models such as break-even analysis, cash flow forecasting and the like.
Health Care Financial Management II: Concepts/Applications
This course builds on the foundational learning from Health Care Financial Management I: Principles & Practice. Course emphasis will be on for-profit entities within the health care sector. The course goes into greater depth on discounted cash flow analysis, risk, financial performance evaluation, capital investments, capital budgeting, debt, and equity financing. A key objective of this class is to develop the student’s ability to engage in long-term financial modeling. Students will complete a comprehensive financial forecast as their final graded assessment for this field of study.
Health Insurance and Reimbursement
This course provides an in-depth review of the characteristics of successful health insurance plans with emphasis on cost containment and premium control techniques. Emphasis will be placed on learning various cost containment and quality improvement tools of an effective delivery system and how to apply those tolls to different delivery structures. The relationship between shared risk and behavior change is explored as well as basic concepts of health insurance underwriting and the essentials of a successful provider payer partnership.
Total Semester Credit Hours
To be considered for admission to the advanced certificate in health care finance, candidates must fulfill the following requirements:
Hold a baccalaureate degree (or equivalent) from an accredited university or college.
Submit official transcripts (in English) of all previously completed undergraduate and graduate course work.
Have a minimum cumulative GPA of 3.0 (or equivalent).
Submit two letters of recommendation from individuals who have the opportunity to observe the applicant’s work output.
International applicants whose native language is not English must submit scores from the TOEFL, IELTS, or PTE. A minimum TOEFL score of 88 (internet-based) is required. A minimum IELTS score of 6.5 is required. The English language test score requirement is waived for native speakers of English or for those submitting transcripts from degrees earned at American institutions.
Please note: Certain countries are subject to comprehensive embargoes under US Export Controls, which prohibit virtually ALL exports, imports, and other transactions without a license or other US Government authorization. Learners from Syria, Sudan, North Korea, the Crimea region of the Ukraine, Iran, and Cuba may not register for RIT online courses. Nor may individuals on the United States Treasury Department’s list of Specially Designated Nationals or the United States Commerce Department’s table of Deny Orders. By registering for RIT online courses, you represent and warrant that you are not located in, under the control of, or a national or resident of any such country or on any such list.