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Author: Andrew W. Lo
Publisher: Princeton University Press
ISBN: 0691199965
Category : Business & Economics
Languages : en
Pages : 425
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Book Description
An introductory finance textbook for the healthcare industry We are living in a golden age of biomedical innovation, yet entrepreneurs still struggle with the so-called Valley of Death when seeking funding for their biotech start-ups. In Healthcare Finance, Andrew Lo and Shomesh Chaudhuri show that there are better ways to finance breakthrough therapies, and they provide the essential financial tools and concepts for creating the next generation of healthcare technologies. Geared for MBA and life sciences students, as well as biopharma executives and healthcare investment professionals, this textbook covers the theory and application of financial techniques such as diversification, discounted cash flow analysis, real options, Monte Carlo simulation, and securitization, all within the context of managing biomedical assets. The book demonstrates that more efficient funding structures can reduce financial risks, lower the cost of capital, and bring more lifesaving therapies to patients faster. Readers will gain the background, framework, and techniques needed to reshape the healthcare industry in positive ways. Finance doesn’t have to be a zero-sum game, and Healthcare Finance proves that it is possible to do well by doing good. Explores new financing methods for the biopharma industry Provides accessible explanations for making good business decisions in the life sciences Analyzes real-world examples, case studies, and practical applications Includes access to videos of lectures and recitations, interactive figures, self-graded problem sets, and other online content
Author: Andrew W. Lo
Publisher: Princeton University Press
ISBN: 0691199965
Category : Business & Economics
Languages : en
Pages : 425
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Book Description
An introductory finance textbook for the healthcare industry We are living in a golden age of biomedical innovation, yet entrepreneurs still struggle with the so-called Valley of Death when seeking funding for their biotech start-ups. In Healthcare Finance, Andrew Lo and Shomesh Chaudhuri show that there are better ways to finance breakthrough therapies, and they provide the essential financial tools and concepts for creating the next generation of healthcare technologies. Geared for MBA and life sciences students, as well as biopharma executives and healthcare investment professionals, this textbook covers the theory and application of financial techniques such as diversification, discounted cash flow analysis, real options, Monte Carlo simulation, and securitization, all within the context of managing biomedical assets. The book demonstrates that more efficient funding structures can reduce financial risks, lower the cost of capital, and bring more lifesaving therapies to patients faster. Readers will gain the background, framework, and techniques needed to reshape the healthcare industry in positive ways. Finance doesn’t have to be a zero-sum game, and Healthcare Finance proves that it is possible to do well by doing good. Explores new financing methods for the biopharma industry Provides accessible explanations for making good business decisions in the life sciences Analyzes real-world examples, case studies, and practical applications Includes access to videos of lectures and recitations, interactive figures, self-graded problem sets, and other online content
Author: William O. Cleverley
Publisher: Jones & Bartlett Learning
ISBN: 1284142698
Category : Medical
Languages : en
Pages : 574
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Book Description
Essentials of Health Care Finance provides health management students and executives with the most authoritative text on financial decision-making in the health care industry. This trusted resource explores finance theory and its practical application in health care across a full range of facilities, from hospitals and home health agencies to skilled nursing facilities, surgical centers and private physician practices.
Author: Sara Bryant Holland
Publisher:
ISBN:
Category :
Languages : en
Pages : 176
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Book Description
In corporate finance, we study the investment decisions of firms. Most of the time we focus on investments in physical capital, but firms also invest in human capital. A major component of human capital is health capital, and firms already spend a large amount of money on the health of their employees. In 2005, for example, employers in the United States spent more than $500 billion on group health insurance, which firms use to invest in their workers' health capital. Corporate finance has not yet analyzed health expenditures as an investment. This research on health and human capital complements the corporate finance literature on investment in physical capital. Additionally, the results have important welfare implications, which may aid policymakers. In the first chapter, I show how a firm's health capital investment depends on each employee's human capital, labor productivity, and firm size. Firms mitigate depreciation in a worker's human capital by investing in health to increase the productivity of human and physical capital. Results indicate that firms that have higher labor productivity, are larger, and spend more on research and development invest more in health capital. I estimate the subsequent effect of health capital investment on value using firm-level data on health insurance premiums. To identify the effect, I instrument for health insurance premiums with a time series of state health insurance mandates, state birth rates, and the number of persons covered by health insurance contracts. The marginal effect of health capital investment on firm value is zero, suggesting that firms are in equilibrium with respect to health capital investment. Market to book reflects the value of this investment because health capital is an intangible asset that the book value of assets does not capture. These results have implications for policymakers who target the employer-based system of health insurance provision as both a means of extending coverage and managing utilization. In the second chapter, I present a model of the health capital investment decision of a firm using a moral hazard framework. Health capital investment increases the probability that a worker is present and productive. The firm cannot verify a worker's health capital investment decision. When a firm invests in health capital, the investment is verifiable because the firm contracts with the insurer. I derive the optimal contract for when the worker and for when the firm invests in health capital. When the firm invests in health capital, the level of investment is higher, wages are less volatile, and wages are higher relative to when the worker invests in health capital. I discuss the welfare implications. In my model, firms invest more than workers because of a production externality and because it is less costly to invest in health capital than to compensate the worker for bearing the risk of an uncertain labor realization. This result improves welfare, contrary to the benchmark that workers consume more health care than is efficient ex post when firms provide health insurance. Unlike the benchmark model of a worker and insurer, my model includes a profit maximizing firm, includes an endogenous probability of getting sick, and allows the insurer to set premiums by anticipating the health care investment level of the insured. In the third chapter, I discuss how firms hedge risky human capital with health benefit plans. Firms can choose to fully hedge by contracting with an insurance company, remain unhedged by funding benefits out of general assets, or partially hedge by using a combination of insurance and the general assets of the firm. I adapt the model of Froot, Scharfstein, and Stein (1993) to explore the firm's hedging decision. Consistent with the predictions of the model, firms that find external finance costly and that face a convex tax schedule are more likely to hedge. Additionally, the effect of cash flow on investment is lower for firms that partially hedge human capital risk.
Author: Institute of Medicine
Publisher: National Academies Press
ISBN: 0309036437
Category : Medical
Languages : en
Pages : 580
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Book Description
"[This book is] the most authoritative assessment of the advantages and disadvantages of recent trends toward the commercialization of health care," says Robert Pear of The New York Times. This major study by the Institute of Medicine examines virtually all aspects of for-profit health care in the United States, including the quality and availability of health care, the cost of medical care, access to financial capital, implications for education and research, and the fiduciary role of the physician. In addition to the report, the book contains 15 papers by experts in the field of for-profit health care covering a broad range of topicsâ€"from trends in the growth of major investor-owned hospital companies to the ethical issues in for-profit health care. "The report makes a lasting contribution to the health policy literature." â€"Journal of Health Politics, Policy and Law.
Author: Steven R. Eastaugh
Publisher: Jones & Bartlett Learning
ISBN: 9780763731465
Category : Health services administration
Languages : en
Pages : 302
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Book Description
In terms of health care, Americans want incompatible resultsunlimited access to the best care at affordable prices. With health care assuming an increasing proportion of the American economy, it is vital that health care managers and providers have a comprehensive understanding of finance and economics. This text will help you meet the considerable challenge of cutting costs while enhancing service quality.Health Care Finance and Economics provides a complete understanding of financial management and health economics. Youll develop your role as a manager by learning how to: enhance productivity, market strategy, quality, and profitability; manage capital structure, investment decisions, and financial decisions; improve access to health care, promote managed care, and learn from technology assessment studies; and evaluate what a payer can do to buy prudently yet preserve the biomedical strength of the nation.
Author: William O. Cleverley
Publisher: Jones & Bartlett Publishers
ISBN: 1449617425
Category : Health & Fitness
Languages : en
Pages : 590
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Book Description
Essentials of Health Care Finance stands firmly in its place as the leading textbook on healthcare finance. No other text so completely blends the best of current finance theory with the tools needed in day-to-day practice. Useful for all course levels as well as a professional reference, this text offers a comprehensive introduction to the field. The Seventh Edition has been thoroughly revised to reflect the current economic environment in the healthcare industry, with thoughtful descriptions and ‘real-world’ examples. Important Notice: The digital edition of this book is missing some of the images or content found in the physical edition.
Author: Steven Berger
Publisher: John Wiley & Sons
ISBN: 0470314001
Category : Medical
Languages : en
Pages : 674
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Book Description
In this thoroughly revised and updated third edition of Fundamentals of Health Care Financial Management, consultant and educator Steven Berger offers a practical step-by-step approach to understanding the fundamental theories and relationships guiding financial decisions in health care organization. Set in a fictional mid-sized hospital, the book is written in diary form, taking the reader into the inner workings of the finance executive's office. This introduction to the most-used tools and techniques of health care financial management includes health care accounting and financial statements; managing cash, billings and collections; making major capital investments; determining cost and using cost information in decision-making; budgeting and performance measurement; and pricing. As in the previous editions, this book introduces key practical concepts in fundamental areas of financial management.
Author: William O. Cleverley
Publisher: Jones & Bartlett Learning
ISBN: 9780763742362
Category : Health facilities
Languages : en
Pages : 574
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Book Description
Stands firmly in its place as the leading textbook on health care finance.
Author: William O. Cleverley
Publisher: Aspen Publishers
ISBN:
Category : Business & Economics
Languages : en
Pages : 518
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Book Description
Completely updated and revised chapters reflect recent developments! This new edition covers financial management of hospitals and other health care organizationscomplete with financial information in management decision making, and planning and control. Written in easy to understand language, Essentials of Health Care Finance, Third Edition provides illustrations and examples to relate theory and practice. it includes two new chapters on working capital management and cash budgeting. Instructor's Guide is available.
Author: Louis C. Gapenski
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 744
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Book Description
