Programme Overview

Our 'Finance for Healthcare Professionals' programme is a comprehensive, three-day in-person course designed to provide healthcare professionals with a thorough understanding of financial principles and their applications in the healthcare sector. The programme includes interactive sessions, ensuring a flexible learning experience that fits into your busy schedule. 

  September 2024
Format In-Person
Duration 3-days
Schedule Wednesday: 09:00 - 17:00
Thursday: 09:00 - 17:00
Friday: 09:00 - 17:00
Dates 12, 13, 14 February 2025
Tuition Fees €1,850

Finance has become increasingly crucial in the healthcare industry, driven by the need for more efficient resource management, cost control and strategic investment. As healthcare organisations face growing financial pressures from regulatory changes, rising operational costs, and the demand for higher quality care, understanding financial principles is more important than ever. Professionals equipped with strong financial skills can lead their organisations through these challenges, ensuring sustainability and growth while maintaining a high standard of patient care. 

Trinity Executive Education 'Finance for Healthcare Professionals' programme, led by Professor Hilary Hough, is designed to address these needs by providing a deep dive into financial management specifically tailored to the healthcare sector. Participants will learn to interpret and utilise financial data to make strategic decisions, optimise budget allocations, and manage financial risks. The programme offers the opportunity for you to engage in interactive sessions that blend theoretical knowledge with real-world applications from your organisations, ensuring you can immediately apply the learnings in your professional environment. 

  Course Highlights 

  • Practical Financial Skills: Develop the ability to read and interpret financial statements, create, and manage budgets, and assess financial risks effectively. Ensure you can apply financial concepts directly to your work environment. 
  • Strategic Decision-Making: Learn to make well-informed, data-driven decisions that enhance both operational efficiency and financial performance. Train to use financial data to support strategic planning and resource allocation. 
  • Leadership Capabilities: Understand the financial implications of your decisions to improve your leadership skills. Enhance your ability to lead financial planning and analysis within your organisation. 
  • Interactive Learning: Participate in live sessions and collaborative exercises designed to enable a deeper understanding of financial management in the healthcare sector.  
  • Tailored Content for Healthcare Professionals: Benefit from programme content specifically designed for healthcare professionals, addressing unique financial challenges and opportunities.  

Learning Outcomes 

  • Gain an understanding of fundamental financial principles within the healthcare sector.
  • Develop the skills to analyse and interpret key financial statements, including balance sheets, income statements, and cash flow statements.
  • Learn to create, manage, and optimise budgets to ensure the efficient use of resources within your healthcare organisation.
  • Formulate and execute financial strategies that support the sustainability and growth of your healthcare organisation.
  • Identify, assess, and mitigate financial risks to protect your organisation and ensure long-term stability.
  • Apply financial knowledge to improve operational efficiency, streamline processes, and achieve better patient outcomes.
  • Engage in peer-to-peer learning with professionals from diverse healthcare backgrounds to share insights, best practices, and innovative financial solutions. 

Who is this Course Designed For? 

This programme is designed for healthcare professionals who aim to enhance their financial skills and advance their careers. It is tailored for: 

Healthcare Managers: 
Professionals responsible for managing budgets, overseeing financial operations, and making strategic financial decisions within healthcare settings. This programme will help you improve your financial management skills, enabling you to allocate resources more effectively and contribute to your organisation’s financial health. 

Clinical Leaders: 
Doctors, nurses, and other clinical staff involved in departmental budgeting and financial planning or looking to understand the financial aspects of healthcare delivery. This course will provide you with the financial literacy needed to support your clinical decisions and improve patient care outcomes. 

Aspiring Healthcare Executives: 
Individuals aiming to advance to senior leadership roles in healthcare. This programme will equip you with essential financial knowledge and strategic thinking skills required to navigate complex financial landscapes and lead your organisation successfully. 

Programme Details

  • Overview of fundamental accounting concepts. 
  • Key financial statements: Income Statement, Balance Sheet, and Cash Flow Statement. 
  • Understanding the financial statements specific to your organisation. 
  • Key Performance Indicators in healthcare.

  • The budgeting process in healthcare:
    • Block grants 
    • Activity based funding 
  • Techniques for creating and managing budgets within a healthcare context. 
  • Financial forecasting methods tailored to healthcare operations. 
  • Aligning financial planning with the strategic goals of healthcare organisations.

  • Tools and techniques for analysing financial performance. 
  • Cost-benefit analysis applied to healthcare projects and initiatives. 
  • Making strategic decisions based on financial data and performance metrics.

  • Identifying and managing financial risks specific to healthcare. 
  • Implementing financial controls to ensure compliance and accuracy. 
  • Understanding the role of internal audits and insurance in safeguarding assets.

  • Long-term financial planning and sustainability in healthcare. 
  • Evaluating and managing capital investments. 
  • Integrating financial strategies with overall organisational goals.

  • Enhancing leadership skills through financial strategy integration. 
  • Case studies and real-world applications demonstrating successful financial leadership. 
  • Techniques for leading financial initiatives and driving organizational change. 

Admissions 

The Finance for Healthcare Professionals programme is open to:   

  • Healthcare professionals from the private and public sector, both clinical and administrative, who have responsibility for managing budgets. 
  • Experts with experience of working in the healthcare industry. 

Programme Leader: Hilary Hough 

Hilary Hough is a certified accountant and chartered director with a wide range of corporate finance, accounting, and general management experience. He held a number of senior positions with the Bank of Ireland and since leaving the Bank has provided accounting and financial consultancy and training to senior executives and owner-managers in a range of large and small companies and public sector organisations throughout Europe, Asia, the Middle East, and the US. He lectures on the fultime and executive Trinity MBA courses and a range of other executive education programmes. 

Stakeholder Input 

The programme will include contributions from key stakeholders and finance professionals in the healthcare sector. 

Contact Person: Jane Flanagan
Programme Recruitment & Enrolment Manager at Trinity Executive Education