Financial Management in Radiological Sciences

Course Details

Course Number: RADS 5124   Spring 2012

Location: Bridwell Hall

Classroom Number: 204/206

Days & Times:

January 28th - 7:00 am-7:00 pm

January 29th - 7:00am-12:00 pm

May 5th - 7:00 am-7:00 pm

May 6th - 7:00 am-12:00 pm



Course Attachments

Course Syllabus  MWSURad5124FINOUTLINE2012Spring-20120119-092137[1].pdf

Textbooks

Essentials of Cost Accounting for Health Care Orga
REQUIRED: Finkler, S. & Ward, D. (1999). Essentials of Cost Accounting for Health Care Organizations. Gaithersburg, MD: Aspen Publishers Inc. [ISBN 0- 8342-1022-8] (3rd Ed.).
  ISBN: 0-8342-1022-8

Issues in Cost Accounting for Health Care Organiza
Optional (Not Required): Finkler, S. & Ward, D. (1999). Issues in Cost Accounting for Health Care Organizations. Gaithersburg, MD: Aspen Publishers Inc. [ISBN 0-8342-1010-X]
  ISBN: 0-8342-1010-X]

Financial Management in Radiology
Optional (Not Required): Financial Management in Radiology, Edited by Sheila Sferrella, Mel Allen, Mary Reitter, Published by the American Healthcare Radiology Administrators, 2004 ISBN -0-9634176-1-4
  ISBN: 0-9634176-1-4

MSU Faculty Member
Mel L Allen J.D.   
view Profile »

Course Objectives

Course Overview:

This course provides an overview of financial management issues and techniques in healthcare and specifically radiologic sciences. An emphasis will be placed on the use of fiscal and economic decisions and their implications on the financial management process. A variety of financial concepts will be discussed including Cost Accounting, Fiscal Budgeting, Break -Even Analysis, Business Plans and Proforma Tools. The course will explore these financial management concepts in the context of daily professional practice of radiology administrators and educators.

Course Objectives:

Upon completion of this course, a student will be able to:

  • Discuss cost accounting principals through participation and demonstrate the purpose and use of these principals related specifically to Imaging Services.
  • Demonstrate a clear understanding of the various cost, financial and managerial accounting techniques. 
  • Describe the various elements and characteristics used to develop cost accounting methods.
  • Discuss and explain the use of cost accounting for planning, control, decision making, inventory valuation, income determination and external reports.
  • Demonstrate the relationship between cots volume and profits and the utilization of these indicators in developing financial tools such as Break-Even Charts, Proformas, Profit/Loss reports and Business Plans.
  • Demonstrate the utilization of spreadsheet tools related to the above budget activities.

 


Course Expectations

Teaching Strategies:

Lecture/discussion, seminar group activities, independent reading assignments, group discussion, written assignments, case studies, and student presentations.

Class activities & participation 30%

Students must attend all classes for credit. Each student is expected to participate in discussion/activities. Grading is based on both quantity and quality of participation evidenced by:

  • Familiarity with and understanding of topics
  • Contribution to discussions
  • Willingness to share ideas and support others

Project Presentations 30%

Each student will be responsible for identifying, developing and presenting a financial management project. The projects should be relevant to current financial issues in Diagnostic Imaging and present a financial based process, idea or tool used in Diagnostic Imaging. Topics must be submitted for approval by February 17, 2012 with presentation outlines due by March 23, 2012. Project presentations should be 15 – 30 minutes in length. Presentations will occur during class in May. Projects may be located through print or Internet searches or preferably based on recent personal experience. Some example projects might include:

  • Development of a cost accounting process for a particular Diagnostic Imagining modality.
  • Development and utilization of financial control charts
  • Financial Business plan for a new outpatient Center.
  • Economic analysis for a proposed new imaging service.
  • Breakeven analysis for a newly developed imaging exam.

Finance Questions and Problems from Textbook 20%

Textbook “Questions” from Required Reading

Students will be required to answer selected questions from the required reading chapters as assigned throughout the semester. The assigned textbook questions are due on April 13, 2010.

Textbook “Problems” from Required Reading

During the on-campus weekends, students will review and present solutions to selected “Problems” at the end of the chapters in the required reading:

Essentials of Cost Accounting for Health Care Organizations 3rd Ed.

  • 1st onsite weekend Chapters 1,2,3,4,5,6, & 7 
  • 2nd onsite weekend, Chapters 9,10,11,12,13,14,17, and 18

The presentation and discussion of results should be informative AND interactive. Students may incorporate audiovisual technology, handouts and discussion to enhance their discussion/presentations.

Computer Labs 20%

Computer lab exercises will be used to demonstrate financial management procedures using various financial tools, templates and Excel® Problems at the end of selected chapters. This may be a team or individual project with grade based on accuracy of results and assistance required.

 


Grading Standards
Evaluation

Grade Scale

Class activities & participation 30%    A     100-90
Project Presentation 30% B 89-80
Finance Problems 20% C 79-70
Computer Labs 20% D 69-60
    F 60 and below

 


Final Exam5/6/2012  12:00 pm

Submission Format Policy

Assignments submitted electronically should follow these guidelines:

  • IBM compatible format (not MAC)
  • Excel/Word 97 or newer version
  • Times New Roman or other typical legible font (10 or 12 point for bulk of text)
  • Student Name, RADS 5024 (Course and Section Number) Spring 2012, page number in the header with Title (ex. Response to  Problem 1, Chapter 4 of class text book)

If a student cannot meet these requirements for electronic submission, he or she should meet with the faculty member to make other suitable arrangements.



Note: You may not submit a paper for a grade in this class that already has been (or will be) submitted for a grade in another course, unless you obtain the explicit written permission of me and the other instructor involved in advance.

Plagiarism Policy Plagiarism is the use of someone else's thoughts, words, ideas, or lines of argument in your own work without appropriate documentation (a parenthetical citation at the end and a listing in "Works Cited")-whether you use that material in a quote, paraphrase, or summary. It is a theft of intellectual property and will not be tolerated, whether intentional or not.

Student Honor Creed

As an MSU Student, I pledge not to lie, cheat, steal, or help anyone else do so."

As students at MSU, we recognize that any great society must be composed of empowered, responsible citizens. We also recognize universities play an important role in helping mold these responsible citizens. We believe students themselves play an important part in developing responsible citizenship by maintaining a community where integrity and honorable character are the norm, not the exception. Thus, We, the Students of Midwestern State University, resolve to uphold the honor of the University by affirming our commitment to complete academic honesty. We resolve not only to be honest but also to hold our peers accountable for complete honesty in all university matters. We consider it dishonest to ask for, give, or receive help in examinations or quizzes, to use any unauthorized material in examinations, or to present, as one's own, work or ideas which are not entirely one's own. We recognize that any instructor has the right to expect that all student work is honest, original work. We accept and acknowledge that responsibility for lying, cheating, stealing, plagiarism, and other forms of academic dishonesty fundamentally rests within each individual student. We expect of ourselves academic integrity, personal professionalism, and ethical character. We appreciate steps taken by University officials to protect the honor of the University against any who would disgrace the MSU student body by violating the spirit of this creed. Written and adopted by the 2002-2003 MSU Student Senate.

Students with Disabilities The Americans with Disabilities Act (ADA) is a federal anti-discrimination statute that provides comprehensive civil rights protection for persons with disabilities. Among other things, this legislation requires that all students with disabilities be guaranteed a learning environment that provides for reasonable accommodation of their disabilities. If you believe you have a disability requiring an accommodation, please contact the Disability Support Services in Room 168 of the Clark Student Center, 397-4140.

Safe Zones Statement The professor considers this classroom to be a place where you will be treated with respect as a human being - regardless of gender, race, ethnicity, national origin, religious affiliation, sexual orientation, political beliefs, age, or ability. Additionally, diversity of thought is appreciated and encouraged, provided you can agree to disagree. It is the professor's expectation that ALL students consider the classroom a safe environment.

Contacting your Instructor All instructors in the Department have voicemail in their offices and MWSU e-mail addresses. Make sure you add your instructor's phone number and e-mail address to both email and cell phone lists of contacts.

Writing Proficiency Requirement All students seeking a Bachelor's degree from Midwestern State University must satisfy a writing proficiency requirement once they've 1) passed English 1113 and English 1123 and 2) earned 60 hours. You may meet this requirement by passing either the Writing Proficiency Exam or English 2113. Please keep in mind that, once you've earned over 90 hours, you lose the opportunity to take the $25 exam and have no option but to enroll in the three-credit hour course. If you have any questions about the exam, visit the Writing Proficiency Office website at http://academics.mwsu.edu/wpr, or call 397-4131.