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Related Experiment Videos

Simulation game provides financial management training.

Neville Uhles¹, Barbette Weimer-Elder, James G Lee

¹Education Institute, Adventist HealthCare, Inc, Rockville, MD, USA.

Healthcare Financial Management : Journal of the Healthcare Financial Management Association

|March 21, 2008

Summary

This summary is machine-generated.

A reality simulation game effectively taught nonfinancial managers financial concepts like cash flow, income statements, and balance sheets. Participants demonstrated significant knowledge gains, improving scores from 77.4% to 91.3%.

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Area of Science:

Healthcare Management
Financial Literacy Education

Background:

Nonfinancial managers often lack understanding of core financial statements.
Effective financial management requires comprehension of cash flow, income statements, and balance sheets across all management levels.

Purpose of the Study:

To assess the effectiveness of a reality simulation game in educating nonfinancial managers.
To improve understanding of financial relationships (cash flow, income statements, balance sheets) among healthcare managers.

Main Methods:

Development of an engaging workshop utilizing a reality simulation game.
Training of 30 Adventist HealthCare (AHC) staff as facilitators.
Mandatory participation for all managers with budget oversight.

Main Results:

The workshop received a very positive reception from participants.
Participant knowledge significantly improved, with average scores increasing from 77.4% pre-session to 91.3% post-session.
The simulation game proved an effective tool for financial education.

Conclusions:

Reality simulation games are a viable and effective method for financial literacy training in healthcare settings.
Improved financial understanding among nonfinancial managers can enhance overall organizational financial management.
The AHC workshop model demonstrates success in bridging the financial knowledge gap for managers.