The LICQual Level 3 Diploma in Healthcare Financial Analysis is a specialised qualification designed for professionals working in healthcare, social care, and related sectors who wish to enhance their financial management expertise. This programme is not intended for fresh candidates; it is specifically developed for learners with professional experience who aim to improve their career prospects, broaden their knowledge, and strengthen their Continuing Professional Development (CPD).
Effective financial analysis is essential for healthcare organisations to ensure sustainable service delivery, allocate resources efficiently, and support informed decision-making. This diploma equips learners with the skills to analyse financial data, evaluate budgets, manage costs, and assess financial performance within healthcare settings. Learners will gain practical knowledge in budgeting, forecasting, cost-benefit analysis, financial reporting, and resource optimisation, preparing them to make strategic and evidence-based financial decisions.
Centres delivering this qualification must employ competent and qualified staff with expertise in healthcare finance, accounting, and financial analysis. Additionally, centres are required to provide learners with access to all necessary study materials, resources, and facilities to ensure high-quality training and support successful learning outcomes.
By completing this diploma, learners will acquire the knowledge and practical skills required to take on financial management responsibilities within healthcare organisations. The programme prepares learners to contribute to strategic planning, improve operational efficiency, and support organisational sustainability, making it a valuable step for career progression in healthcare financial management and analysis.
Course Overview
Qualification Title
LICQual Level 3 Diploma in Healthcare Financial Analysis
Total Units
6
Total Credits
60
GLH
240
Qualification #
LICQ2200757
Qualification Specification
To enroll in theLICQual Level 3 Diploma in Healthcare Financial Analysis, applicants must meet the following criteria:
|
Qualification# |
Unit Title |
Credits |
GLH |
|---|---|---|---|
|
LICQ2200757-1 |
Principles of Healthcare Finance |
10 |
40 |
|
LICQ2200757-2 |
Financial Planning and Budgeting in Healthcare |
10 |
40 |
|
LICQ2200757-3 |
Cost Management and Resource Allocation |
10 |
40 |
|
LICQ2200757-4 |
Financial Reporting and Analysis |
10 |
40 |
|
LICQ2200757-5 |
Risk Management and Compliance in Healthcare Finance |
10 |
40 |
|
LICQ2200757-6 |
Strategic Financial Decision-Making and Performance Evaluation |
10 |
40 |
By the end of this course, learners will be able to:
Unit 1: Principles of Healthcare Finance
By the end of this unit, learners will be able to:
- Explain the fundamental principles and concepts of healthcare finance.
- Analyse financial structures, policies, and procedures within healthcare organisations.
- Evaluate the role of finance in supporting service delivery and operational efficiency.
- Apply financial knowledge to support decision-making in healthcare contexts.
Unit 2: Financial Planning and Budgeting in Healthcare
By the end of this unit, learners will be able to:
- Develop financial plans aligned with organisational goals and healthcare priorities.
- Prepare budgets, forecasts, and financial projections for healthcare services.
- Analyse the impact of budgeting decisions on resource allocation and service delivery.
- Apply best practices for monitoring and adjusting budgets to meet financial objectives.
Unit 3: Cost Management and Resource Allocation
By the end of this unit, learners will be able to:
- Identify and analyse the costs associated with healthcare services and operations.
- Apply techniques for efficient resource allocation and cost control.
- Evaluate the effectiveness of cost management strategies in achieving organisational objectives.
- Implement cost reduction measures without compromising quality of care.
Unit 4: Financial Reporting and Analysis
By the end of this unit, learners will be able to:
- Prepare, interpret, and analyse financial reports and statements in healthcare settings.
- Evaluate financial performance using key indicators and metrics.
- Apply financial analysis to support strategic and operational decision-making.
- Ensure accuracy, compliance, and transparency in financial reporting.
Unit 5: Risk Management and Compliance in Healthcare Finance
By the end of this unit, learners will be able to:
- Identify financial risks and assess their potential impact on healthcare organisations.
- Apply risk management strategies to mitigate financial and operational challenges.
- Ensure compliance with legal, regulatory, and organisational financial standards.
- Evaluate the effectiveness of risk and compliance measures in maintaining financial integrity.
Unit 6: Strategic Financial Decision-Making and Performance Evaluation
By the end of this unit, learners will be able to:
- Apply strategic financial planning to support long-term organisational objectives.
- Analyse financial data to inform high-level decision-making and investment choices.
- Evaluate the impact of financial strategies on organisational performance and patient outcomes.
- Recommend improvements to financial processes to enhance efficiency, sustainability, and service quality.
This qualification is designed for professionals seeking to enhance their expertise in healthcare financial management and analysis. It is ideal for:
- Healthcare Managers and Administrators responsible for budgeting, resource allocation, and financial planning.
- Financial Officers and Accountants working within healthcare organisations who want to specialise in healthcare finance.
- Healthcare Practitioners aiming to develop financial awareness to support decision-making and operational efficiency.
- Policy Makers and Strategy Professionals involved in healthcare funding, planning, and performance evaluation.
- Project Managers and Team Leaders looking to optimise resource use and ensure financial sustainability in service delivery.
- Professionals Focused on CPD seeking to expand their knowledge, advance their career, and take on more senior financial roles.
- Public Health and Community Health Professionals responsible for managing budgets, financial reporting, and cost-effective service delivery.
Centres wishing to deliver this qualification must meet the following requirements to ensure high-quality learning, teaching, and assessment:
- Qualified and Competent Staff: Centres must employ trainers, tutors, and assessors with relevant qualifications, experience, and expertise in healthcare finance, accounting, and financial analysis.
- Access to Appropriate Learning Resources: Centres must provide learners with up-to-date study materials, financial case studies, organisational reports, and access to accounting or finance software where applicable.
- Facilities and Equipment: Centres should offer suitable learning environments, including classrooms, ICT support, and, where applicable, access to simulated financial systems or practical exercises.
- Assessment and Quality Assurance: Centres must implement robust systems for fair assessment, internal verification, and quality assurance to maintain the integrity and consistency of the qualification.
- Learner Support Services: Centres must provide academic guidance, mentoring, and career support to help learners achieve their full potential.
- Compliance with Professional Standards: Centres must ensure delivery aligns with recognised standards, ethics, and best practices in healthcare financial management.
- Staff Continuing Professional Development (CPD): Teaching and assessing staff should engage in ongoing CPD to maintain expertise in healthcare finance, strategic financial planning, and regulatory compliance.
These requirements ensure that centres provide a structured, professional, and supportive learning environment, enabling learners to succeed and confidently apply healthcare financial analysis knowledge in professional settings.
Assessment and Verification
All units within this qualification are subject to internal assessment by the approved centre and external verification by LICQual. The qualification follows a criterion-referenced assessment approach, ensuring that learners meet all specified learning outcomes.
To achieve a ‘Pass’ in any unit, learners must provide valid, sufficient, and authentic evidence demonstrating their attainment of all learning outcomes and compliance with the prescribed assessment criteria. The Assessor is responsible for evaluating the evidence and determining whether the learner has successfully met the required standards.
Assessors must maintain a clear and comprehensive audit trail, documenting the basis for their assessment decisions to ensure transparency, consistency, and compliance with quality assurance requirements.
