Finance for Healthcare

This course will equip you with a comprehensive understanding of finance for healthcare. By the end of the course participants will be better able to:

• Understand the organisational and managerial concepts of finance and how they apply to the healthcare sector.

• Evaluate concepts in financial management, bearing in mind global and comparative dimensions of healthcare and what is most suitable to their own organisation.

• Apply key financial tools and concepts to the management of finance in your healthcare organisation.

• Discuss various financial analyses that can be used to support change initiatives in your healthcare organisation.

• Reflect on their own role within their organisation and how it is impacted by financial considerations.

• Week 1: In week one, gain a deep understanding of healthcare finance, exploring its role, funding sources, and ethical considerations. Evaluate the impact of healthcare investment on treatment options, considering ethical implications of decisions like limiting access to life-saving drugs.
• Week 2: In week two, explore global healthcare financing, comparing systems worldwide. Understand funding models, purchasing power parity, and the influence of global organisations like the OECD and the World Health Organization.
• Week 3: In week three, shift focus to internal healthcare operations, examining the role of finance managers, budgeting tools, and the importance of awareness in setting and managing budgets. Learn to provide constructive feedback, advocate for change, and evaluate costs within healthcare organisations.
• Week 4: In week four, address the challenge of making a case for change in healthcare, learning methods to compare current practices with reform costs. Overcome obstacles with tools and resources, emphasizing understanding initial costs, extending perspectives, and considering long-term financial benefits.
• Week 5: In the final week, you will reflect on your learning and develop a personal action plan, focusing on actionable and applicable changes tailored to your specific workplace and context.

We understand that online learning might be a new experience for some. Our virtual learning environment (VLE) is intuitive, accessible, and easy to navigate. A dedicated programme coordinator will be available to assist with any technical difficulties or questions about learning online.

At the start of the course, we provide short orientation videos to familiarise you with the platform and course format.

Upon successful completion of this course, participants will receive a RCSI Completion Certificate. Achieving this certificate and earning continuous professional development (CPD) points involves passing weekly MCQs, engaging in online discussions, and participating in reflective exercises, including the completion of a personal action plan.

Although this course does not carry credits as per the European Credit Transfer System, it upholds rigorous quality assurance standards to provide an excellent educational experience. The course has been approved by the RCSI Professional Development and Practice Committee and is accredited for CPD points in line with the Irish Medical Council guidelines. Participants seeking recognition in other jurisdictions should verify the applicability of these CPD points as per their local requirements.