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January 21, 2022
This programme is geared at enhancing working executives' careers. The SEMP is an encapsulated Senior Management Programme for the High Performance Managers and Directors who work in critical roles and need an intensive course to cover the key areas that drive success and profit in business today.
The current healthcare environment requires that healthcare organizations across the globe find ways to reduce operating expenses while improving quality. When faced with the need to cut costs, many think of staff reductions, across-the-board decreases, or curtailing select programs and services.
However, they fail to realize that hidden in their organizations are millions of dollars in overuse, misuse, and rework that can be removed not only without sacrificing but, in many cases, improving long-term quality and safety.
Similar to any other major business problems, addressing the cost of healthcare may seem overwhelming and impossible to solve. Fortunately, there is a way to address the challenge of escalating healthcare costs that reduce the dependence on cost-shifting and benefit cutbacks.
Participants attending the course will develop the following competencies:
About the Special Executive Masters Programme
The MSBM Special Executive Masters Programme is short certificate modules designed for anyone who would benefit from more in-depth business knowledge delivered in a short and intensive Programme. This Programme is suitable for successful professionals or specialists in the private, public or non-profit making sectors that have new management responsibilities and need to quickly expand their management knowledge.
The (SEMP) Programme serves as a refresher course for those who have had their Masters a long time ago and need a quick reminder or as an academic update while it serves as a crash Programme for those very experienced professionals who never made time out for their masters yet they require the academic and practical relevance of this masters’ experience. It is a good Programme for individuals who are newly promoted to the managerial post, the program enables them to acclimatize to the new position as well as help them intake the right decisions.
The primary objective of this course is to enhance cost control management skills among decision-makers in the hospital, especially leaders who are primarily responsible for financial decisions.
Participants will also be able to:
Who should attend?
The Healthcare Management Course is appropriate for all professionals working in the healthcare/ hospital operations who need basic knowledge and a better understanding of healthcare cost management, especially the following:
It will also benefit finance managers who have recently moved into the healthcare industry, who need to understand and practice how to apply cost control essentials in a healthcare context.
During this practical training course on Healthcare Management, participants will be able to learn how to identify the primary areas where excess expense typically occurs in healthcare. In addition, they will be able to design an approach for identifying and eliminating waste in their organizations that engages the front line and results in improved quality and reduced costs.
Day 1: Cost Management
Direct vs. Indirect Costs
Management Influence on Cost Behaviour
Fixed Costs and Variable Costs
What is the Value of ABC?
When Would ABC be most useful?
Cost Management Processes
Day 2: Implementation of Cost Management Processes
Metrics for Cost Analysis
Cost Volume Profit (CVP) Analysis
Assumptions of CVP
The Basic CVP Model
Extensions of the Basic CVP Model
Make vs. Buy (Outsourcing)
Day 3: Economic Characteristics of Costs
Relevant Costs for Decision Making
Short-run vs. long-run
Pitfalls to avoid
10 ways to improve healthcare cost management
Report results using a balanced scorecard technique
Costs for Strategic Decision-Making
Day 4: Costs and Business Pressures
Cost containment strategies
Health issues around the world
Lifestyle and chronic disease
Preventing and managing claims
Day 5: Encourage Healthy Behaviours
Incentive and Knowledge
Combating Rising Employee Health Care Costs
Cost Shifting Versus Cost Management
Ways to Differentiate your Healthcare Program
Employee Assistance Plan (EAP)
Health Risk Assessment (HRA)