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Advanced Financial Decision Making

Advanced financial principles and concepts can aid your decision-making for better patient care and business results. You’ll build upon the fundamental principles you learned in the prerequisite course, Techniques of Financial Decision Making. Decipher the information provided in cash flow statements to make better management decisions. Understand alternative cost allocation techniques to improve your financial choices. You’ll learn to manage situations when cash flow lags and use flexible budgeting to accommodate the uncertainty of patient volumes. Advanced financial analysis techniques will help you control operating costs.

7.0 Total CME

7.0 Elective Credits - CPE

7.0 Elective Credits - Masters

Course Objectives

  • Determine the impact of cash flow lags and develop cash budgets to manage in situations where lags occur.
  • Summarize flexible budgeting and apply the technique for planning in situations where future patient volumes are uncertain
  • Define cost allocation, explain alternative cost allocation techniques, and use cost allocation for improved decisions.
  • Describe the limitations of the Internal Rate of Return (IRR) technique for evaluating capital acquisitions, and apply them to capital acquisition decisions.
  • Contrast the pros and cons of leasing versus other forms of long-term financing and evaluate when it is better to lease or to buy.
  • Define trade credit, and compute the implicit interest rate related to the use of trade credit.
  • Use advanced variance analysis techniques to control operating results.
  • Explore fund accounting and describe the major types of funds used by health care organizations.
  • Drill down into the parts that make up the cash flow statement, and use the information contained in the cash flow statement for management decisions.
  • Assess the financial health of a health care organization by applying financial analysis techniques to a case study of a health care organization.

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

Original Course Release Date: May 2014

Course Expiration Date: May 2017

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

Registrations are eligible for full refund or transfer to another course (that occurs within 12 months) for up to 72 hours after purchase. A $100 processing fee applies to cancellations or transfers after 72 hours but before 30 days have elapsed. Cancellations after 30 days from purchase date are not eligible for refund or transfer.

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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