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.
Topics include:
Alternative cost allocation techniques
Limitations of the Internal Rate of Return (IRR) technique
Control operating costs
Flexible budgeting during uncertain times
Course Objectives
After completing this course, you will be able to:
- 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 studies
Disclaimer
The American Association for Physician Leadership® is accredited by the Accreditation Council for Continuing Medical Education (ACCME) to provide continuing medical education for physicians.
The American Association for Physician Leadership® staff and the faculty presented for this activity have no relevant financial relationships with commercial interests to disclose.
The American Association for Physician Leadership® designates this enduring material for a maximum of 7 AMA
PRA Category 1 Credit(s) ™. Physicians should only claim credit commensurate with the extent of their participation in the activity.
Once you click “accept disclaimer,” you will have access to course material and no refund will be allowed for this course.
Collaborators
The content in this course was developed and vetted in collaboration with Steven Finkler, PhD, CPA
Key Dates
Original Course Release Date: June 2017
Course Review and Renewal Date: March 2024
Course Expiration Date: March 2026
Your Course Access Expires: 365 days from your purchase of the course
