Financial Management of Elderly Care Settings

MQF Level 7

6 Credits (ECTS)

Financial Management of Elderly Care Settings

Start
October 2024
Module Type
Compulsory
Price
€775
ECTS Credits
6 Credits (ECTS)
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Get 70% back via Tax Credit

€543 refund on this module

Module Description

Entry Requirements

Candidates who apply for this course must possess one of the following: 

  • a Level 6 degree in a related field; 

 OR  

  • a Level 5 diploma or higher diploma and 5 years’ work experience in a supervisory or managerial role. 

 

Preference is given to applicants having a Level 6 degree in a discipline related elderly care and a minimum of 3 years’ work experience in management within the sector. 

Target Audience

The target group covers, but is not limited to:  

  • Care Home Managers and Directors
  • Personnel involved in the administration of care to the elderly
  • Educators
  • Welfare Officers 
  • Human Resources and Operations Managers involved in the administration of care for the elderly
  • Middle Management (such as. senior care workers etc.)
  • Personnel involved in family counselling and counselling of the elderly
  • Nurses 
  • Medical Doctors
  • Allied health professionals, such as physiotherapists, dieticians etc. 

 

 

Module / Unit Instructions

The proposed structure comprises a blended approach promoting the building of a community of practice via peer-to-peer learning. The structure uses primarily two dimensions of teaching-learning modes:

1. Face-to-face sessions: 18 hours

2. Online Learning Activities: 12 hours

Face to Face sessions

Face-to-face sessions include lectures, tutorials, discussions, presentations and workshop activities promoting peer-to-peer learning.

Online Learning Activities

Online learning activities incorporate tutorials and asynchronous discussions. These may consist of active interaction, participation and contributions in fora discussions, sharing resources and self-reflection exercises.

Learners also contribute to the building of the community of practice by providing feedback to their peers as critical friends, enhancing the learner’s critical engagement throughout the study period.

The tutor provides continual support during both teaching -learning modes by providing information, readings and tasks relevant to the module in question.

The tutor provides continuous formative feedback as an on-going guidance during the student’s learning experience in preparation for their summative assessment.

How you’ll be assessed

Assessment of each module consists of two assignments, each carrying a weighting as below:

a) One Formative assignment carries 20% of total module mark achieved. b) One Summative assignment carries 80% of total module mark achieved.

For successful completion of a study module the student is required to achieve a minimum of 41% pass mark in both the formative and the summative assignment.

The overall grade achieved for each module is calculated as the sum of: · 20% of the mark achieved for formative assignment; and · 80% of the mark achieved for the summative assignment.

All assignment tasks of both formative and summative assessment aim to provide the learner an opportunity to produce evidence of his/her competences aligned to the learning outcomes of each individual Module.

Assessment

a) Formative assessment tasks are provided in the form of structured online discussions that support learners in their development throughout all of the modules studied.

Such discussions are facilitated and monitored by lecturer who provides students with constructive feedback to help them improve and prepare for summative assignment and dissertation.

For successful completion of a study module the student is required to achieve a minimum of 41% pass mark in the formative assignment.

b) Summative assessment is done via one assignment at the end of each module. The mode of assessment varies and may include in-class assignments, and home-based written assignments.

The recommended assessment tool for this module is an essay title or case studies based on relevant real-life scenarios.

Word count range: 3000 ± 10% For successful completion of a study module the student is required to achieve a minimum of 41% pass mark in summative assignment.

Formative assessment tasks will contribute to the student’s final mark to acknowledge their work and give chance to improve.

This method allows students to also contribute to the building of the community of practice by providing feedback to their peers as critical friends, enhancing the learner’s critical engagement throughout the study period.

Assignment
Discussions

Module Intake Dates

October 2024
Price
€775

Additional Info

Reading for the entire Master of Science (M.Sc.) in Elderly Care Management as presented in this brochure costs €8,775.*  

Upon successfully completing the course, you will be able to get 70% of the course fees back through the Get Qualified scheme.**  

Due to the modular structure of the course, you may also opt to take individual modules as stand-alone. The entry requirements still apply.***  

*Prices are applicable to students who reside in Malta at the time of applying. 

**Terms and conditions apply.  

*** For the price of individual modules, please contact the IDEA Academy team.  

Learning Outcomes

Competences:

At the end of the module/unit the learner will have acquired the responsibility and autonomy to:

  • Critically analyse the financial environment within which elderly care organisations operate.
  • Critically evaluate the competitive and regulatory forces that shape healthcare industry.
  • Critically evaluate alternative sources of finance and investment opportunities for elderly care organisations.
  • Assess the factors taken into consideration for investment decisions and opportunities for elderly care organisations.

Knowledge:

At the end of the module/unit the learner will have been exposed to the following:

Introduction to Finance in Elderly Care Organisations

  • The theoretical and practical role of financial management in elderly care organisations
  • Financial performance analysis and capital requirements
  • Finance and elderly care sector stakeholders

Financial Risk Management

  • The risks involved within the context of financial decision-making
  • The financial decision-making process analysis
  • Critically analyse capital budgeting techniques under risk and uncertainty.

Elderly Care/Healthcare Market Structure

  • Market Structure
  • Competition
  • Financial Regulations

Healthcare/Elderly Care Economics

  • Contractual Relations
  • Commercial Revenues
  • Networks and Economics

Sources of Finance

  • Sources of Funds
  • Equity Shares
  • Risk Management and Hedging

Financial Planning for Elderly Care

  • Financial Planning
  • Banking Perspective
  • Business Planning and Financial Management

Skills:

At the end of the module/unit the learner will have acquired the following skills:

  • Devise the alternative ways of financing an elderly care organisation and its operating assets.
  • Construct a financial plan, given an understanding of financial management.
  • Analyse the relationships between an elderly care organisation’s financial management and the underlying economic drivers of the healthcare/elderly care industry.
  • Manage, plan and coordinate cashflow and capital of elderly care organisation or its part; · Forecast financial resources to ensure future developments as relevant to elderly care organisation.

Judgment Skills and Critical Abilities:

The learner will be able to:

  • Collect, analyse and interpret data/information to support arguments, and to develop and apply ideas and make financial decisions.

Module-Specific Communication Skills:

The learner will be able to:

  • Communicates ideas, problems, and solutions to both specialist and non-specialist audiences using a range of techniques involving qualitative and quantitative information to sustain arguments.

Module-Specific Learner Skills:

  •  Undertake independent and self-directed study through researched literature reviews.
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