UNDERSTANDING HEALTHCARE FINANCIAL MANAGEMENT Fifth Edition

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      UNDERSTANDING HEALTHCARE
        FINANCIAL MANAGEMENT
                               Fifth Edition
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            UNDERSTANDING
             HEALTHCARE
              FINANCIAL
             MANAGEMENT                                                                                    [-3], (3)



                              Fifth Edition                                                                Lines: 115 to 153
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                  Louis C. Gapenski
In Collaboration with George H. Pink




            Health Administration Press, Chicago, Illinois
                     AUPHA, Washington, DC
                                        AUPHA
                                         HAP


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              The statements and opinions contained in this book are strictly those of the author(s) and                    [-4], (4)
              do not represent the official positions of the American College of Healthcare Executives,
              of the Foundation of the American College of Healthcare Executives, or of the Association
              of University Programs in Health Administration.
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              Copyright  2007 by the Foundation of the American College of Healthcare Executives.             ------
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              Library of Congress Cataloging-in-Publication Data

              Gapenski, Louis C.
                  Understanding healthcare financial management / Louis C. Gapenski. -- 5th ed.
                     p. cm.
                  Includes bibliographical references and index.
                  ISBN-13: 978-1-56793-264-5
                  ISBN-10: 1-56793-264-9 (alk. paper)
                  1. Health facilities--Business management. 2. Health facilities--United
               States--Business management. 3. Medical care--United States--Finance. 4. Health
               services administration--Economic aspects--United States. I. Title.
               RA971.3.G37 2006
               362.11068'1--dc21                                                        2006049050

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              (312) 424-2800




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BRIEF CONTENTS



                                                                                                                   [First Page]
Preface xiii                                                                                                       [-5], (1)

PART I The Healthcare Environment
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   1 Introduction to Healthcare Financial Management . . . . . . . . . . . . . 3                                    ------
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PART II Basic Financial Management Concepts

   3 Time Value Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79          [-5], (1)


   4 Financial Risk and Required Return . . . . . . . . . . . . . . . . . . . . . . . . 115

PART III Capital Acquisition

   5 Debt Financing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 153

   6 Equity Financing and Investment Banking . . . . . . . . . . . . . . . . . . 191

   7 Securities Valuation, Market Efficiency, and Debt Refunding . . 221

   8 Lease Financing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 261

PART IV Cost of Capital and Capital Structure

   9 Cost of Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 293

  10 Capital Structure Decisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 333




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