Dollars and sense

The reality of today’s health care system is a constant struggle between cost and care — and physicians are increasingly the ones striving to balance the two. If you find yourself wondering how much is enough health care and where to land between doing more and worrying about cost-effectiveness, this is the course for you. We’ll help you tackle the fundamental economic dilemmas in health care head on.

You’ll learn how to interpret financial statements, identify high-performing hospitals and determine the real costs of choosing among care alternatives.

By looking at how costs behave (or don’t), you’ll be able to calculate a contribution margin, understand the concept of breaking even and determine the optimal action when demands for resources exceed availability — as they so often do. Real-life examples will test your ability to make decisions based on sound economic and accounting principles. This core* course involves hands-on work with financial spreadsheets: participants should have Excel installed on their laptop.    

Return on investment

• Explain how the fundamental principles of economics shape the health care system
• Analyze and interpret financial statements for a health care organization
• Apply economic evaluation and accounting principles when making decisions
• Discuss the interaction of ethics, autonomy and allocation in health care
• Practise financial decision-making that maximizes quality of care in times of scarcity and competing alternatives        

*Core courses have been identified as essential training for physicians interested in or engaged in a position of leadership.