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Advanced Financial Decision Making

7 Total CME

63000
Regular Price: $630

Member Price: $536

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Physician leaders cannot dismiss the importance of finance in strategic decision making. Consequently, applying financial principles can aid the process and result in improved patient care. Become a stronger physician leader by understanding how to apply flexible budgeting and alternative cost-allocation techniques and improving productivity and profitability.

Find new ways to control operating costs resulting in improved management decisions. 

Prerequisite: Techniques of Financial Decision Making

Topics include:

  • Alternative cost allocation techniques
  • Limitations of the Internal Rate of Return (IRR) technique
  • Control operating costs
  • Flexible budgeting during uncertain times

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Course Objectives 

  • Develop cash budgets based to manage identified cash flow lag situations
  • Utilize the technique of flexible budgeting for planning where future patient volumes are uncertain
  • Describe the limitations of the Internal Rate of Return (IRR) technique for evaluating capital acquisitions and its application
  • Contrast the pros and cons of leasing versus other forms of long-term financing in order to lease or buy appropriately
  • Define trade credit and the process of computing the implicit interest rate related to its use
  • Use advanced variance analysis techniques to control operating results
  • Describe fund accounting and the major types of funds used by health care organizations
  • Explore the parts of a cash flow statement and how this information is used to make management decisions
  • Assess the financial health of a health care organization by financial analysis techniques using a case study

Method of Participation

To complete this program successfully and claim credit, participants must follow these steps:

  • Read the educational objectives provided on the course summary page.
  • Attend the sessions or watch all the video lectures for this course (if applicable).
  • Read any course materials and complete any required activities.
  • Complete the course evaluation and post-test via your dashboard on the Association website. Successful completion of a given activity’s post-test requires a minimum 75% passing score prior to claiming CME credit, with three attempts allowed.
  • CME certificates will be available for printing after claiming CME credit.
  • Estimated time for course completion is equivalent to the CME credit hours.
 

Key Dates

Course Review and Renewal Date: March 2024

Original Course Release Date: May 2014

Course Expiration Date: March 2026

Access to Course Expires: 365 days from purchase date of course

Disclosures

Planner Disclosure: The planners (American Association for Physician Leadership® staff) for this activity have no relevant financial relationships with commercial interests to disclose.

Faculty Disclosure: The faculty for this activity have no relevant financial relationships with commercial interests to disclose.

Accreditation

The American Association for Physician Leadership® is accredited by the Accreditation Council for Continuing Medical Education (ACCME) to provide continuing education for physicians.

Designation

The American Association for Physician Leadership® designates this enduring material for a maximum of 7 AMA PRA Category 1 Credit(s) ™. Physicians should claim only the credit commensurate with the extent of their participation in the activity.

Cancellation Policy

  • Refunds are available for online courses if the refund is requested within a 72-hour period after purchase and no course materials have been accessed.
  • If the course is accessed at any time, no cancellation or refund will be allowed.
  • If registrations are cancelled within 72 hours of purchase and no access of course material has occurred, then a full refund less a $100 processing fee will be applied.
  • Once 72 hours have passed after purchase, no cancellations or refunds will be allowed.

Registrations may not be transferred to another person at any time. All refunds will be issued to the original form of payment. Refunds or transfers are not available if testing has occurred or CME is claimed.

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