Strategic Management for Health Care Entities : Creative Frameworks for Financial and Operational Analysis

by Thomas R. Prince

• ISBN13: 9781556482144
• ISBN10: 1556482140
• Edition: 1st
• Format: Hardcover
• Copyright: 1998-01-01
• Publisher: Jossey-Bass

Summary

The health care industry is moving from an emphasis on cost containment to a growing fascination with the concept of value. How is value created? How can it be assessed? Strategic Management for Health Care Entities provides a creative, integrative, and practical road map for addressing these questions. Highlights include:-The integration of financial and accounting analysis with quality of care and outcomes reporting-How medical facility and service codes can be used for competitor analysis and strategic market assessment-A newly developed medical technology index that serves as a benchmark in the strategic assessment of community hospitals Strategic Management for Health Care Entities provides a framework for considering the changes still to come as providers, payers, and the public define new types of accountability and search for common ground in creation greater health care value.

Author Biography

THOMAS R. PRINCE, is a professor of health services management and of accounting and information systems at the J. L. Kellogg Graduate School of Management, Northwestern University. He has been applying his professional experience in information systems to health care entities for more than 25 years. Prince has evaluated, designed, implemented, and assesed the information systems in many hospitals and medical centers. His current research centers on financial management of health care entities with special emphasis on networks, physician-hospital organizations, joint ventures, and medical technology.Prince is the author of ten books, including Extension of the Boundaries of Accounting Theory, Information Systems for Management Planning and Control, and Financial Reporting and Cost Control for Health Care Entities. His numerous articles have been published in Accounting Review, Health Care Management Review, Municipal Finance Journal, Health Services Research, Journal of Health Administration Education, Hospital & Health Services Administration, and Hospital Progress. He is the coauthor of many health care reports sponsored by foundations, state and local governments, and federal agencies.Prince is also a certified public accountant and has served on the Illinois CPA Society's Committee on Health Care Institutions--Hospital Section. He is a faculty associate of the American College of Healthcare Executives and is a member of the Financial Executives Institute, the Healthcare Financial Management Association, and the American Institute of Certified Public Accountants.

Table of Contents

About the Author	vii	(2)
Foreword	ix	(2)
Stephen M. Shortell
Preface	xi	(4)
Acknowledgments	xv
PART I THE HEALTH CARE ENVIRONMENT--AN OVERVIEW	1	(68)
Chapter 1. Entities Providing Health Care Services to Individuals	3	(18)
Chapter 2. Macroaccounting Reports of the Health Care System	21	(28)
Chapter 3. Competitive Analysis of Health Care Entities in the Marketplace	49	(20)
PART II FINANCIAL REPORTING	69	(132)
Chapter 4. Balance Sheets, Fund Accounting, and Net Assets	71	(20)
Chapter 5. Statement of Operations, Changes in Net Assets, Income and Retained Earnings	91	(18)
Chapter 6. Financial Statements of Health Care Entities with High-Risk Contracts	109	(20)
Chapter 7. Statements of Cash Flows	129	(18)
Chapter 8. Investments, Related Party Transactions, and Other Reporting Issues	147	(26)
Chapter 9. Financial Statement Analysis	173	(28)
PART III MANAGEMENT CONTROL	201	(166)
Chapter 10. Cost Analysis for Decision Making	203	(26)
Chapter 11. Cost Measurement and Matching Issues in Health Care Entities	229	(32)
Chapter 12. Activity-Based Costing in Health Care Entities	261	(18)
Chapter 13. Product Life-Cycle Costing and Different Costs for Various Purposes	279	(30)
Chapter 14. Management Control and Budgeting Issues	309	(34)
Chapter 15. Physician Performance, Variance Analysis, and Management Control	343	(24)
PART IV HEALTH CARE SERVICES	367	(80)
Chapter 16. Forecasting Health Services by Patients within a Health Care Facility	369	(30)
Chapter 17. Product Costing and Management	399	(22)
Chapter 18. Assessing Mergers, Closures, and Distressed Health Care Facilities	421	(26)
PART V FINANCIAL MANAGEMENT	447	(86)
Chapter 19. Cash Management and Short-Term Financing	449	(18)
Chapter 20. Risk Management, Insurance, and Assessing Third-Party Payers	467	(18)
Chapter 21. Capital Structure and Long-Term Financing	485	(24)
Chapter 22. Issuing Tax-Exempt Securities and Bond Ratings	509	(24)
Glossary of Acronyms	533	(4)
Index	537