Library Research Project

Library Research Project

In France, the role of a Health Care Financial Manager, also known as “Responsable Financier de la Santé” in French, is a vital position within the healthcare industry. As Health Care Financial Managers, individuals are responsible for overseeing and managing the financial operations of healthcare organizations, ensuring their financial stability and sustainability (Bouaziz et al., 2020). This assignment explores the required education, job duties, and wages for this career in France, comparing them to the education and expertise gained in the United States.

The Education Needs, Job Duties, and Wages for a France Health Care Financial Manager

Education Needs

To qualify as a Health Care Financial Manager in France, individuals basically need to possess a solid educational background in finance, financial accounting, or an associated career. An undergraduate degree in accounting or finance is usually the minimum requirement, although many professionals in this field hold higher degree levels, such as a Master in Health Administration or a Master of Business Management (MBA)  (Bouaziz et al., 2020). Furthermore, specialized requirements in healthcare finance, like the Certified Healthcare Finance Professional (CHFP) or the Chartered Analyst for Finance (CFA), can further promote career success.

Job Duties

The primary responsibilities of Health Care Financial Managers in France revolve around financial planning, budgeting, and decision-making within healthcare organizations. They analyze financial data, prepare financial reports, and develop strategies to optimize financial performance while ensuring compliance with relevant regulations and policies. They collaborate with other departments, such as administration, operations, and medical staff, to align financial goals with organizational objectives (Bouaziz et al., 2020). Health Care Financial Managers are also crucial in managing reimbursement systems, negotiating contracts with insurance providers, and conducting cost analyses to improve operational efficiency.

Wages

In France, the Health Care Financial Manager wage differs depending on specifications like the organization’s size, geographical location, and level of expertise. The typical wage is between €40,000 to €70,000 per annum (Bouaziz et al., 2020). However, it is crucial to keep in mind that these statistics are approximations and may differ greatly depending on individual qualifications and the specific healthcare organization.

The Education Needs, Job Duties, and Wages for United States Health Care Financial Manager

Education Needs

In the United States, some training specifications for a Health Care Financial Manager are similar to those in France. One needs an undergraduate degree in accounts, finance, or a similar discipline. However, in the U.S., advanced degrees such as an MBA or a Master’s in Healthcare Administration are more common and can provide a competitive edge in the job market (Bartsch et al., 2020). Additionally, there are specialized certifications available in the U.S. that are highly regarded in the healthcare finance field, like the Health Finance Administration Association’s Licensed Health Finance Professional certification

Job Duties

The workplace duties of the United States Health Care Financial Managers are comparable to duties in France. They are involved in overseeing and managing the finance operations of medical facilities. This includes finance determination, budget preparations, and decision-making to ensure the financial stability and success of the organization (Bartsch et al., 2020). Health Care Financial Managers in the U.S. also collaborate with other departments, analyze financial data, prepare reports, and play a crucial role in managing reimbursement systems and negotiating contracts with insurance providers.

However, there may be some differences in job functions due to variations in the healthcare systems and regulations between the two countries. For example, Health Care Financial Managers in the United States often deal with complex billing and coding systems and compliance with government healthcare programs such as Medicare and Medicaid (Bartsch et al., 2020). They may also be involved in strategic financial planning for mergers and acquisitions, capital investment decisions, and revenue cycle management.

Wages

The salary of Health Care Financial Managers in the United States tends to be higher compared to France. The range of pay can be influenced by elements like experience, geography, and the medical facility’s size. On average, Health Care Finance Managers in the U.S. get from $80,000 to $120,000 per annum. This is higher compared to the approximate wages in France (Bartsch et al., 2020).

It is important to consider the cost of living and other factors when comparing salaries between countries. The United States generally has a higher cost of living compared to France, which may partially account for the higher salary range (Bartsch et al., 2020). Additionally, the reimbursement structure and the complexity of the U.S. healthcare system contribute to the demand and compensation for healthcare finance professionals.

Conclusion

In conclusion, to work as a Health Care Financial Manager in France, individuals require a strong educational background in finance or accounting and potential certifications in healthcare finance. The job primarily involves financial planning, budgeting, and decision-making within healthcare organizations. While the salary for this profession in France may be lower compared to the United States, it is essential to reflect various requirements like the cost of living and individual circumstances. Overall, a career as a Health Care Financial Manager in France offers opportunities to contribute to healthcare organizations’ financial stability and success while being part of the country’s healthcare system.

References

Bartsch, S. M., Ferguson, M. C., McKinnell, J. A., O’shea, K. J., Wedlock, P. T., Siegmund, S. S., & Lee, B. Y. (2020). The Potential Health Care Costs And Resource Use Associated With COVID-19 In The United States: A simulation estimate of the direct medical costs and healthcare resource use associated with COVID-19 infections in the United States. Health Affairs, 39(6), 927-935. https://doi.org/10.1377/hlthaff.2020.00426

Bouaziz, D., Salhi, B., & Jarboui, A. (2020). CEO characteristics and earnings management: empirical evidence from France. Journal of Financial Reporting and Accounting, 18(1), 77-110. https://doi.org/10.1108/JFRA-01-2019-0008

ORDER A PLAGIARISM-FREE PAPER HERE

We’ll write everything from scratch

Description
Library Research Project

You have decided you would like to work in a foreign country as a healthcare financial professional. Choose the country and the type of position within health care finance or health care management. You would like to know how medical education, job duties, and pay in the country of your choice compare to the training and experience received in the United States.

Library Research Project

Using the CTU Library and other resources, address the following:

Provide the education requirements, job functions, and salary for your chosen medical profession in the chosen country.
Describe how these differ from the education requirements, job functions, and salary in the United States.
Be sure to support your information by citing at least 2 scholarly references using APA format.

Please submit your assignment.