Management

Managing Financial Resources

Unlock your potential. Be a health leader.

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Description

The need for efficient use of resources is of the utmost importance in healthcare due to its predominate public funding, the constrained fiscal environment, the increasing demand for services and the drive towards improved patient outcomes (quality).

As a healthcare manager, a large portion of your role will involve managing and monitoring resource utilization including staffing and infrastructure spending.

In this course, you will gain an understanding of how healthcare is financed and the importance of prudent financial management. In addition, the course will provide you with an understanding of basic budgetary and financial terminology. You will also learn about procurement activities and contract management. A brief overview of health economics and how it is used in the health environment is also provided.


Managing Financial Resources at-a-glance

  • Delivered entirely online
  • Register at any time
  • Approximately 25 hours of learning, to be completed in up to 4 months
  • Innovatively weaves leadership throughout using the LEADS in a Caring Environment Leadership Framework
  • Webinars from subject matter experts from across Canada
  • “Keys to Success” videos created specifically for this course by prominent Canadian healthcare leaders.
  • This course is part of the Management Essentials Program. For more information about the Management Essentials Program click here

Who should take Managing Financial Resources?

This course is intended for new or aspiring managers from:

  • across the continuum of care (eg., from health promotion to long-term care)
  • healthcare organizations supporting the health system at all levels (eg., local to national organizations)
  • ministries of health and health regions.

Participants may include:

  • regulated and non-regulated health professionals (eg., nurses, pharmacists, physiotherapists, occupational therapists, pharmacy technicians, medical laboratory technologists, etc.)
  • project or program managers
  • departmental managers in health organizations (eg., purchasing, housekeeping, facilities, etc.)
  • health analysts (eg., business, program, policy)
  • health research managers
  • anyone who is interested in enhancing or refreshing their existing management and leadership knowledge.

Learning outcomes

At the completion of this course, you will be able to:

  • Understand financial management including key concepts and terminology.
  • Explain fundamental finance and budgeting concepts relevant to a healthcare organization.
  • Understand how an organization creates their operating budget.
  • Understand and apply the process for departmental or program budget development (in alignment with the larger organizational operating budget).
  • Recognize various financial management challenges and some strategies to overcome the challenges.
  • Understand how organizations implement financial management tools and strategies.
  • Understand key aspects of procurement and contract management.
  • Understand the purpose and value of health economics.

Awards

There are no awards available for this course or program at this time. Click here to learn more about student awards.  


 

Faculty

 Bruce MaitlandAbout
 Dan MerrittAbout
 Tracy MurphyAbout
 Wendy CampbellAbout

Requirements

Language

English is the language of instruction for all CHA Learning courses. It is therefore recommended that students be competent in reading, writing and speaking English.


Technical

Students must have basic computer knowledge and internet navigation skills; and access to a computer with Windows 7 or higher.

Please note:

  • Students choosing to use Mac or Linux operating system must have experience using alternate remote access software.
  • CHA Learning staff can only assist Windows operating system users and provide technical support in relation to our website; we do not provide technical support for the Internet and/or basic computer use.

Other technical requirements:

CHA Learning Technical Requirements
Screen Resolution800×600 (minimum); 1024×768 (recommended)
Internet BrowsersThe most recent version of one of the following:

Google Chrome
Internet Explorer
Microsoft Edge
Firefox
Opera
Safari
Plug-insPop-up blocker: disabled
Java Script: Enabled
Cookies: Enabled
Internet Connection Broadband (cable or DSL) connection required
SoftwareWord processing software, Adobe Reader
Recommend knowledge and comfort using Microsoft Excel

Enrolment Process

To enrol:

  1. Click on the enrol/apply button
  2. Add the product to your cart
  3. Create an account if you are new to CHA Learning or sign in to your existing account
  4. Complete the Billing Information page
  5. Enter your payment information, accept the terms and conditions and make your payment
  6. Within seven business days you will receive an email with instructions to access the course/program materials.

Note: If you are interested in enrolling in other individual Management Essentials courses, please visit the course pages for more information.

For more information about the Management Essentials Program, please click here.

Grading

Grading includes tests, assignments, graded discussion forums and webinars. To achieve a certificate, students must complete the course, pass each graded component with 60% or greater, and achieve a 60% or greater on the overall grade.


Course Certificate

CHA Learning will award students a certificate of successful completion of the course.

Cost

One course:

  • $495 for Canadians
  • $695 for International students

Two courses:

  • $795 for Canadians
  • $995 for International students

Three courses:

  • $1,295 for Canadians
  • $1,495 for International students

For more information about the Management Essentials Program, please click here.

Curriculum

This course includes the following topics:

  • Funding and providing healthcare
  • Funding models
  • Accounting
  • Developing a budget
  • Contract management and procurement
  • Health economics