Health Sciences Management (HSM)

HSM 420. Business Economics of the Healthcare Industry. 3 credits

HSM 420 uses the tools of managerial economics (such as cost-benefit analysis, organizational architecture, and the role of incentives) to analyze the business institutions, practices, and regulation of the health care industry. The course covers the health care value chain including: i) purchasers of health care services (e.g., government, private insurers, and employers); ii) providers of health care services (e.g., hospitals and physicians); and iii) manufacturers of medical devices, pharmaceuticals, and supplies. We seek to understand: the US healthcare system in an international context; the role technology plays in driving change in the industry; the fiscal crises that have spurred health care reform; how health care providers have used mergers, product line management, and information technology to address contemporary management challenges; the next stages in the evolution of managed care as embodied in Accountable Care Organizations and consumer-driven health care; important trends in health care delivery including quality measurement and reward, disease management, and pay-for-performance; and the adoption and financing of medical technology by health care organizations.

HSM 425. Managerial Accounting for Health Care Organizations. 3 credits

Costs for health services continue to rise faster than overall economic growth drawing ever-greater attention from employers, governments, and consumers. The front line of the cost battle is within the health services entities where decision-making depends on accurate reporting of internal costs. This course allows the students to understand how costs are reported and how to use this information to make decisions within the health services entity. The following topics will be examined within a health services setting: cost allocation, cost-volume-profit analysis, budgeting and variance analysis, and transfer pricing.

HSM 430. Health Sciences Mgmt & Strategy. 3 credits

This course applies the principles of organizational economics and strategy to the institutional setting of the health sciences. The course focuses on the interdependence between the delivery, financing, and technology sectors of the health care marketplace. It discusses how management and strategy choices within each sector are responses to the unique institutional factors in the health care marketplace and how the strategies of each sector affect the behavior of the others.

HSM 431. Applications Of Corporate Finance And Governance To Health Care. 3 credits

This course applies the principles of corporate finance and governance to the institutional setting of health care. It draws on the principles of financial valuation, investments and corporate financing, as well as the economics of organizations and corporate governance, to analyze current management problems in the health care sector. The primary purpose of the course is to gain an understanding and comfort level with applying economic and financial theories within the unique institutional setting of health care.

HSM 437. Managing Health Care Operations. 3 credits

The health care industry is undergoing rapid growth as well as rapid structural changes. New technology, changing reimbursement mechanisms, and increased competition create many interesting management problems, least of which in the area of health care operations. In this course, we will study the operations of various types of health care provider organizations (such as hospitals, HMOs, group practices, nursing homes, etc.) and other participants in the industry (such as insurance companies, pharmaceutical companies, suppliers and consulting companies). Topics that will be studied include: patient and provider scheduling, capacity management, providing services and supplies to health care providers, new product development and integrated delivery systems.

HSM 440. Evolving Medical Markets. 3 credits

Firms supplying products and services to the health care industry face a variety of regulatory and marketing challenges that will be explored in this course. Topics include: the economics of developing and marketing new medical technologies, regulations affecting market structure, health and safety regulations and insurance markets. The course will cover evaluation tools frequently used in public policy debates and in marketing medical technologies including cost-benefit and cost-effectiveness analysis and quality of life indices.

HSM 450. Accounting, Economics And Finance For MS Students. 3 credits

This course is designed to present the fundamentals of economic analysis, financial accounting, and financial analysis that will serve as a foundation for concepts developed throughout subsequent courses in the Medical Management program. The objectives of this course are to enable participants to understand and productively use the principles of managerial economics and accounting information to better structure business decisions. In addition, the course will address the principles of capital budgeting. The economics section covers foundational principles of microeconomics. The focus is on those principles with the greatest application for managers in health care, including supply and demand, the economic model of behavior, decision-making under uncertainty, gains from trade, externalities, demand, production, and cost functions, and basics of pricing. The accounting and finance module presents skills required to interpret and analyze common financial statements, and evaluate a company's past performance and potential future performance. Specific topics of discussion include differences in financial statements of for-profit vs. not-for-profit entities, cash vs. accrual accounting, depreciation methodologies, and capital budgeting. Capital budgeting will include net present value (NPV), pay-back, accounting rate of return (ARR) and internal rate of return (IRR).

HSM 451. Health Care Strategy and Business Plan Development. 3 credits

Basic marketing and economic concepts are integrated with the unique institutional features of health care markets to develop a framework for strategic and business planning for a health care organization. A special focus is placed on the practical elements of plan development.

HSM 452. Health Care Accounting And Finance. 3 credits

Basic concepts in finance and financial accounting are combined with material developed in ACC 410 to develop a framework for financial decision making, financial planning, assessment, and control. The goal of the class is to provide students with a set of tools to first make financial decisions about programmatic development. In addition, students will be taught to assess and control programs toward specified financial goals.

HSM 453. Health Care Operations. 3 credits

This is an advanced course on operations management for health delivery organizations. We study the application of operations management concepts to the management of health care provider organizations (such as hospitals, group practices, HMOs, nursing homes, etc.), and other participants in the health industry (such as insurance companies, pharmaceutical companies, consulting businesses, etc.). Applications include both medical and administrative operations. The course uses a mixture of cases, lectures, in-class exercises, and guest lecturers. Part of this course is closely integrated with OMG 402, Operations Management extending and applying concepts from the introductory course to practical problems in health care administration. However, a significant part of the course focuses on quality and process improvement, a topic that is not covered in OMG 402.

HSM 454. Leading Health Care Organizations. 3 credits

Concepts developed in STR 403 Organizations and Strategy are applied within the evolving healthcare setting to teach the student how to organize tasks and motivate staff to achieve coordination and efficiency (including leadership, culture, change management, and team effectiveness).

HSM 455. Health Care Practicum I. 3 credits

This course provides students with hands-on experience with a medical management project. It develops skills in identifying a problem, working with data, finding possible solutions and delivering recommendations, all within a fixed time frame. Students learn to produce analysis, but also have to argue persuasively that the recommendations based on the analysis are valuable and should be implemented. Projects require that students not only apply analyses learned in the classroom, but also that they argue persuasively that the recommendations based on the analyses are valuable and should be implemented. Teams of three to four students are responsible for the individual projects, and meet with the instructor individually. The organizations submitting projects must be willing to spend time with students and to provide appropriate data.

HSM 456. Health Care Practicum II. 3 credits

A continuation of the project from HSM 455.

HSM 464. Creating And Using Information To Manage Healthcare. 3 credits

The objective of this course is to provide Healthcare executives with an understanding of the role that Information Technologies can play in driving care quality and financial performance in their organizations. It is intended to improve their ability to invest strategically and thoughtfully in IT to achieve the desired organizational returns. The course discusses how information technologies are reshaping and redefining the healthcare sector through better care, efficiencies in the delivery of care, advanced tools for patient involvement and continuum of care, decision support tools for clinicians, and the generation of insight from digital exhaust. It teaches students how to critique and analyze various technology tools and systems currently available to health care professionals. The focus is largely on strategic level issues, although some implementation issues will also be discussed.