Simon Business School
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Course Descriptions

HSM 420 Business Economics of the Health Care Industry
This course aims to educate students about the unique business institutions and problems of the health care industry so that students can be prepared to apply their core business knowledge to solve managerial problems in the health care industry. The course will consist of an overview of the major institutions of the U.S. health economy as well as an economic analysis of these institutions.

HSM 430 Health Sciences Management and Strategy
This course applies the principles of organizational economics and strategy to the institutional setting of the health sciences. The course focuses on the interdependence between the delivery, financing, and technology sectors of the health care marketplace. It discusses how management and strategy choices within each sector are responses to the unique institutional factors in the health care marketplace and how the strategies of each sector affect the behavior of the others. Students will leave the course with an ability to think productively about management and strategy challenges within each of the three health science sectors.

HSM 425 Managerial Accounting for Health Care Organizations 
This course helps the student understand how costs are reported and how to use this information to make decisions within the health services entity. The following topics will be examined within a health services setting: cost allocation, cost-volume-profit analysis, budgeting and variance analysis, and activity-based costing. Understanding and analyzing hospital costs using Medicare cost reports will be an integral component of this course.

HSM 437 Management of Healthcare Service Processes 
The aim of this course is to familiarize students with the operations management tools of process flow analysis, capacity management, and quality improvement. Using cases and guest speakers, we will demonstrate how these tools have been used to improve processes in healthcare settings, as well as point out the institutional challenges unique to healthcare.

HSM 450 Accounting, Economics, and Finance for MS Students
This course is designed to present fundamentals of economic analysis, financial accounting, and financial analysis that will serve as a foundation for concepts developed throughout subsequent courses in the Medical Management program. The objectives of this course are to enable participants to understand and productively use the principles of managerial economics and accounting information to better structure business decisions. In addition, the course will address the principles of capital budgeting.

HSM 451 Health Care Strategy and Business Plan Development
Basic marketing and economic concepts are integrated with the unique institutional features of health care markets to develop a framework for strategic and business planning for a health care organization. A special focus is placed on the practical elements of plan development.

HSM 452 Health Care Accounting and Finance 
Basic concepts in finance and financial accounting are used to develop a framework for financial decision making, financial planning, assessment and control. The goal of the class is to provide students with a set of tools to first make financial decisions about the programmatic development. In addition, students will be taught to assess and control programs towards specified financial goals.

HSM 453 Health Care Operations 
This is an advanced course on operations management for health delivery organizations. Students study the application of operations management concepts to the management of health care provider organizations (such as hospitals, group practices, HMO’s, nursing homes, etc.), and other participants in the health industry (such as insurance companies, pharmaceutical companies, consulting businesses, etc.). Applications include both medical and administrative operations. A significant part of the course focuses on quality and process improvement.

HSM 454 Leading Health Care Organizations 
Concepts developed in Competitive and Organizational Strategy (STR 403) are applied within the evolving health care setting to teach the student how to organize tasks and motivate staff to achieve coordination and efficiency (including leadership, culture, change management, and team effectiveness).

STR 403 Organization and Strategy 
The course teaches how to approach and solve a large range of organizational problems from an analytical-economic perspective that is grounded in agency theory.  It discusses in detail the assignment of decision rights (including centralization vs. decentralization of decisions), performance measurement, and incentives and rewards. These are the three elements of “organizational architecture,” the central framework of the course. Applications range from job-level incentive problems to broader questions about organizational structure and the boundaries of the firm (e.g., vertical integration). Throughout, the course emphasizes the complementarity of organizational policies and the importance of alignment between a firm’s internal organization and its strategy.

HSM 455 and HSM 456 Health Care Practicum
These practicum courses provide students with hands-on experience with a medical management project. The practicum develops skills in identifying a problem, working with data, finding possible solutions and delivering recommendations, all within a fixed time frame. Projects require that students not only apply analyses learned in the classroom, but also that they argue persuasively that the recommendations based on the analyses are valuable and should be implemented. Teams of three to five students are responsible for the individual projects, and meet with the instructor individually. The organizations submitting projects must be willing to spend time with students and to provide appropriate data. A formal presentation of the final project is required.

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