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Finance: Budgeting and Forecasting

7 Total CME

40000
Regular Price: $400

Member Price: $340

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This course aims to give participants a comprehensive understanding of the budgeting process and its significance in financial planning and management within the healthcare industry. By utilizing budget planning worksheets and profit and loss statements tailored for medical groups, attendees will gain practical techniques for creating precise budgets and forecasts to manage their financial resources effectively.  The course will focus on various budgeting and financial planning elements, including the use of ratios and benchmarks, considerations tied to provider compensation planning, and focusing on performance improvement in the provider enterprise. Equipped with these skills, participants will be able to develop robust budgets, analyze the financial performance of their practices, and make well-informed decisions that directly contribute to the financial stability and overall success of their independent or affiliated medical practices.

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Course Objectives

  • Define and apply basic concepts of finance.
  • Understand the four types of accounting.
  • Analyze fiscal reports to evaluate organizational performance.
  • Apply financial principles to make informed decisions.

Method Of Participation 

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

  • Watch all the video lectures for each course.
  • 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.

 

Key Dates

Original Course Release Date: May 2022

Course Expiration Date: May 2025

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 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.

MOC Approval Statement

Through the American Board of Medical Specialties (“ABMS”) ongoing commitment to increase access to practice relevant Maintenance of Certification (“MOC”) Activities through the ABMS Continuing Certification Directory, Fundamentals of Physician Leadership: Finance has met the requirements as an MOC Part II CME Activity (apply toward general CME requirement) for the following ABMS Member Boards:

MOC Part II CME Activity

  • Allergy and Immunology
  • Anesthesiology
  • Family Medicine
  • Nuclear Medicine
  • Physical Medicine and Rehabilitation
  • Plastic Surgery
  • Preventive Medicine
  • Psychiatry & Neurology
  • Radiology
  • Thoracic Surgery
  • Urology

Learn More: https://www.continuingcertification.org/activity/fundamentals-of-physician-leadership-finance/

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