Future Trends Health Care 2013 | Page 15

9. Financial Management
The efficient and effective management of money (funds) in such a manner as to
accomplish the objectives of the organization. It includes raising and allocating
capital, long term budgeting and allocating short term resources like current
assets.

Skills and Knowledge for Financial Management:
Analytical skills

Medical audit

Billing Coding Training - ICD10

Medical terminology

Billing/Insurance pre-authorization

Medicico legal audit (research Patient Care
advocate author (textbook)

Business communication
Business Metrics
Computer Assisted Coding
Contract skills
Cost & Funding knowledge
Donations
Event planning

Negotiation skills
New models of care delivery aligned with
financial reimbursement models
Patient advocate
Patient education
Quality

Forecasting medical culture and cultural
change

Regulatory

Fundraising

Reimbursement maximization - in
network/out of network

Grant funds - Writing/Managing
Grants management
ICD 10 - basic coding updates
Information Technology Systems
Insurance
Marketing

Revenue Cycle Management understanding
Safety
Statistics
Value based purchasing
Written communication
Written skills

Medical anatomy & physiology

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