The current healthcare environment requires that healthcare organisations 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 realise that hidden in their organisations 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.

Like any other major business problem, 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 reduces the dependence on cost shifting and benefit cutbacks.

Duration:       5 Days

Target Audience

The Healthcare Operations: Cost Control and Productivity Management training course is appropriate for all Professionals working in healthcare/hospital operations who need a basic knowledge and a better understanding of healthcare cost management, especially:

• Operations Manager
• Chief Financial Officer
• Chief Executive Officer
• Chief Quality Officer
• Director of Organisational Development
• Performance Improvement staff
• Administrative Director
• Risk Management Staff
• Department Head
• Patient Safety Officer

It will also benefit finance managers who have recently moved into the healthcare arena, who need to understand and practice how to apply cost control essentials in a healthcare context.

Objectives

At the end of the course, the participants will be able to:

• Participate actively in financial decision making that affects their department, like budgeting and forecasting.
• Understand the strategic role of basic cost concepts.
• Explain cost-driver concepts at the activity, volume, structural, and executional levels.
• Explain the cost concepts used in product and service costing.
• Identify the different ways to calculate the true cost and understand the real cost to their organisation for delivering patient care.
• Control those costs effectively to assure sustainable profitability and growth.

Course Outline

Day 1: Cost Management

• Direct vs. Indirect Costs
• Management Influence on Cost Behaviour
• Fixed Costs and Variable Costs
• Cost Hierarchy
• 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)
• 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.
• Report results using a balanced scorecard technique.
• Adopt benchmarking.
• Costs for Strategic Decision-Making

Day 4: Costs and Business Pressures

• Cost containment strategies
• Health issues around the world
• Healthcare market
• Health risk
• Employment challenges
• 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 Portal
• Health Risk Assessment (HRA)

Certification

• Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

Training Venue

• Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

Airport Pick Up and Accommodation

• Airport pick up and accommodation is arranged upon request.

Terms of Payment

• Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to us via email.