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Level 7 Diploma in Health and Social Care Management

Foundations of Financial Management in Healthcare

HSC703 · Managing Finance in the Health and Social Care Sector — Week 1 of 16

CourseHSC703
Week1 of 16
SemesterI
TutorOnline in the course chat

This week’s topics

Foundations of Financial Management in Healthcare

  1. Statutory frameworks and governance
  2. Public vs private sector funding mechanisms
  3. Fiduciary duties of healthcare managers
  4. Financial accountability
  5. Introduction to Financial Management in Healthcare
  6. Governance made simple: Funding, roles, routines and oversight that works | Live Webinar
  7. Healthcare Finance | Health System Financing

What you will be able to do

  • 1.1 Explain the importance of accounting and finance management in the context of a health and social care organisation.

Activity

Start with this week’s 3 videos, then: Seminar, guided reading and a short written task: explain the importance of accounting and finance management in the context of a health and social care organisation.

Study materials

Videos

  • Introduction to Financial Management in Healthcare · YouTube · Dr. Khaled OUANES · 17 min · for registered students
  • Governance made simple: Funding, roles, routines and oversight that works | Live Webinar · YouTube · CareTutor · 73 min · for registered students
  • Healthcare Finance | Health System Financing · YouTube · KJ Lectures · 17 min · for registered students
  • Martin Bardsley: Managing financial risk in health · YouTube · Nuffield Trust · 8 min · for registered students

Further resources

  • Principles of Accounting, Volume 2: Managerial Accounting, ch. 1: Accounting as a Tool for Managers · PDF · OpenStax, textbook chapter; pp. 23–76 · for registered students
  • Companies Act 2006, Part 10, Chapter 2: General duties of directors (ss. 170–181) · Reading · legislation.gov.uk, legislation; ss. 170–181 · for registered students
  • Corporate Governance, ch. 2: Governance and Accountability · PDF · Saylor Academy, textbook chapter; pp. 27–50 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
Course chat

Admitted students ask questions on this week’s page in the student portal: an AI assistant trained on the course answers first, and during the course’s timetabled classes Connect to your tutor brings your tutor into the chat, who may start a call if needed.

Open this week in the portal
Course plan
  • Week 1: Foundations of Financial Management in Healthcare
  • Week 2: Financial Technology and Accounting Information Systems
  • Week 3: Double-Entry Bookkeeping and Financial Recording
  • Week 4: Financial Performance Evaluation Using Ratios
  • Week 5: Short-Term and Long-Term Financing Needs
  • Week 6: Sources of Healthcare Financing
  • Week 7: Budgetary Control and Revenue Management
  • Midterm: Midterm evaluation
  • Week 9: Interpreting Healthcare Budgets
  • Week 10: Capital Expenditure and Investment Appraisal
  • Week 11: Strategic Financial Recommendations
  • Week 12: Applying Managing Finance in the Health and Social Care Sec…
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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