Unit Outline

This unit examines the theories and frequently used techniques of economics, financial and managerial accounting in healthcare organisations. Public and private funding issues will be examined, across the acute, primary and aged care sectors. Students will apply this knowledge to determine cost efficient and effective decision making, taking into account safety, quality, resource considerations and principles of value-based healthcare, in general. Students will investigate critical topics and approaches, including funding models; supply and demand factors; economic evaluations, financial statements and working capital cycle; budgeting approaches and key performance indicators; and long-term investments. Students will have opportunities to hear from experts across Australia and participate in industry relevant studies and analysis.

Intended Learning Outcomes

As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.

On completion of this unit, you will be able to:


1.	Appraise the funding models and core concepts of economics, financial and managerial accounting in the Australian health sector.
2.	Evaluate the use of techniques of economics, financial and managerial accounting for cost efficient and effective managerial decisions in health.
3.	Compare public and private funding issues across the acute, primary and aged care sectors.
4.	Argue the ethical and practical budget implications of cost efficiency focusing on cost, safety and quality.
5.	Assess how to improve the application of economics, financial and managerial accounting in the health sector.

Alterations as a result of student feedback

How will I be Assessed?

For more detailed assessment information please see MyLO.

Assessment schedule


ASSESSMENT TASK #	ASSESSMENT TASK NAME	DATE DUE	WEIGHT	LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:	Short Answer 1.1	Week 4	15 %	LO1, LO2, LO3
Assessment Task 2:	Presentation	Week 8	30 %	LO1, LO4, LO5
Assessment Task 3:	Report	Week 12	40 %	LO1, LO4, LO5
Assessment Task 4:	Short Answer 1.2	Week 13	15 %	LO1, LO2, LO3

Assessment details

Assessment Task 1: Short Answer 1.1

Task Description:

Short answer assessments are designed to allow critical discussion of key concepts introduced in the unit and readings. The relevant topic for this short answer question is economic concepts in management of health system (e.g., technical efficiency, allocative efficiency, processes to generate output/outcomes) in private and public health/social services organisations.

Task Length:

1,100 words 10% +/- word count. Any other variance in word count will attract a penalty. The word count includes such items as headings, quotes, and in-text citations. It does not include the title page and reference list at the end of the assignment.

Due Date:

Week 4

Weight:

15 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Appraise the funding models in the context of public and private health/social care organisations.	LO1
2	Explain the economic concepts in management of different health systems (e.g., technical efficiency, allocative efficiency, processes to generate output/outcomes).	LO2
3	Compare the practices of selected economic concepts in private and public health/social care organisations.	LO3
4	Compose a well-articulated academic output, applying the knowledge of funding models in health and core concepts of health economics.	LO1

Assessment Task 2: Presentation

Task Description:

Australia’s healthcare system is shaped by the principle of value-based healthcare. Accordingly, this assessment aims for you to examine the value in use of virtual care in health/social care organisatons. Your examination should avail credible evidence, for example, literatures about economic evaluations, behavioural economics analysis and patient accounts of virtual care. Based on the examination, you are to recommend whether resources should be prioritised for virtual care from the perspectives of your health/social care organisation and relevant community.

Task Length:

14-15 minutes Power-point presentation with embedded voice.

Due Date:

Week 8

Weight:

30 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Appraise the context for value proposition in a managerial decision in health (e.g., providing virtual care).	LO4
2	Assess how to improve application of economics and finance to address the need of different stakeholders in health.	LO5
3	Argue recommendations for a cost efficient and effective managerial health decision in virtual care.	LO5
4	Compose a presentation, applying the knowledge of core concepts of health economics and finance.	LO1

Assessment Task 3: Report

Task Description:

Financial budgeting and performance improvement are critical exercises in health management. The purpose of this assessment is to review the roles and processes of budgeting in enhancing performance of a health/social care organisation regarding patient care and financial sustainability. You are to submit a report, examining hypothetical budgeting data of a health/social care organisation and recommending ways to improve both the patient care and financial sustainability.

Task Length:

3250 words (10% +/- word count). Any other variance in word count will attract a penalty. The word count includes such items as headings, quotes, in-text citations, and the executive summary. It does not include the table of contents, any appendices, and reference list at the end of the assignment.

Due Date:

Week 12

Weight:

40 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Appraise the context of cost efficient and effective managerial decisions in the health system	LO4
2	Argue the purpose, process, and ethical aspects of budgeting in health organisations.	LO4
3	Assess how to improve application of finance and accounting concepts in budgeting in health to address the need of different stakeholders.	LO5
4	Explain recommendations for enhancing management of balance between cost and quality in healthcare.	LO5
5	Compose a well-articulated academic output, applying the knowledge of core concepts of finance and accounting in the context of health/social care organisatons.	LO1

Assessment Task 4: Short Answer 1.2

Task Description:

Short answer assessments are designed to allow critical discussion of key concepts introduced in the unit and readings. The relevant topic for this short answer is quality characteristic of financial reporting e.g., faithful representation (accounting information is not misleading), and accounting assumptions e.g., accrual basis.

Task Length:

Due Date:

Week 13

Weight:

15 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Appraise the context of financial management in public and private health/social care organisations.	LO1
2	Explain the concepts in financial reporting and management accounting (e.g., faithful representation, accrual basis accounting) in different health systems.	LO2
3	Compare the practices of financial reporting in private and public health/social care organisations.	LO3
4	Compose a well-articulated academic output, applying the knowledge of core concepts of financial accounting.	LO1

How your final result is determined

To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.

Submission of assignments

Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.

Academic integrity

Academic integrity is about acting responsibly, honestly, ethically, and collegially when using, producing, and communicating information with other students and staff members.

In written work, you must correctly reference the work of others to maintain academic integrity. To find out the referencing style for this unit, see the assessment information in the MyLO site, or contact your teaching staff. For more detail about Academic Integrity, see Important Guidelines & Support.

Requests for extensions

If you are unable to submit an assessment task by the due date, you should apply for an extension.

A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.

The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.

Late penalties

Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.

Review of results and appeals

You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.