Healthcare Operations: Cost Control & Productivity Management
Better Healthcare Meeting Patient's expectations
£6800.00
INTRODUCTION
The current healthcare environment necessitates that healthcare organisations worldwide find ways to reduce operating expenses while enhancing quality. When faced with the need to cut costs, many consider staff reductions, across-the-board decreases, or curtailing specific programs and services. However, they often overlook that hidden within their organisations are millions of dollars in overuse, misuse, and rework that can be eliminated, not only without sacrificing but, in many cases, enhancing long-term quality and safety.
Similar to other major business problems, addressing the cost of healthcare may appear overwhelming and insurmountable. Fortunately, there is a way to tackle the challenge of escalating healthcare costs that reduces the reliance on cost shifting and benefit cutbacks.
Participants attending the Healthcare Operations: Cost Control & Productivity Management training course will develop the following competencies:
Report results using a balanced scorecard technique
Utilise the 10 ways to enhance healthcare cost management
Increase cost-effectiveness for strategic decision-making
Understand the methods to differentiate their healthcare program
TRAINING OBJECTIVES
The primary objective of this training course is to enhance the skills of healthcare leaders responsible for financial decisions. Attendees will also be able to:
Actively participate in financial decision-making affecting their department, such as budgeting and forecasting
Comprehend the strategic role of fundamental cost concepts
Explain cost-driver concepts at the activity, volume, structural, and executional levels
Elaborate on the cost concepts used in product and service costing
Identify different methods to calculate the true cost and understand the actual cost to their organisation for delivering patient care
Effectively control these costs to ensure sustainable profitability and growth
WHO SHOULD ATTEND?
The Healthcare Operations: Cost Control & Productivity Management training course is suitable for professionals working in healthcare and hospital operations who require a fundamental knowledge and a better understanding of healthcare cost management, particularly:
Operations Managers
Chief Financial Officers
Chief Executive Officers
Chief Quality Officers
Directors of Organisational Development
Performance Improvement Staff
Administrative Directors
Risk Management Staff
Department Heads
Patient Safety Officers
It will also benefit finance managers who have recently transitioned into the healthcare sector, helping them understand and apply cost control essentials in a healthcare context.
TRAINING APPROACH
The Healthcare Operations: Cost Control & Productivity Management training course employs a combination of classroom lectures, case studies/examples, and group discussions. The latest educational methods and strategies are applied to maximise delegate participation, enabling participants to discuss specific problems and find appropriate solutions with other delegates and the presenter.
TRAINING OUTLINE
Day 1: Cost Management
Direct vs. Indirect Costs
Management Influence on Cost Behaviour
Fixed Costs and Variable Costs
Cost Hierarchy
Value of Activity-Based Costing (ABC)
When ABC is 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)
Performance Improvement
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
Reporting Results Using a Balanced Scorecard Technique
Adopting Benchmarking
Costs for Strategic Decision-Making
Day 4: Costs and Business Pressures
Cost Containment Strategies
Global Health Issues
Healthcare Market Trends
Health Risk Factors
Employment Challenges
Lifestyle and Chronic Disease
Preventing and Managing Claims
Day 5: Encouraging Healthy Behaviors
Incentive and Knowledge
Addressing Rising Employee Healthcare Costs
Cost Shifting vs. Cost Management
Strategies to Differentiate Your Healthcare Program
Employee Assistance Plan (EAP)
Health Portal
Health Risk Assessment (HRA)
Certificate of Completion: Upon successful completion of the course, participants will receive a Certificate of Completion from Al-Majd Pathways Centre (APC).