Principles of Financial Decision Making

Gain the skills and knowledge needed to navigate the economic side of health care. Become familiar with the basic principles of finance and understand the documents that reveal the fiscal health of an organization. By the end of the course, physician leaders will have covered strategies for managing costs and revenue in evolving payment systems.

Topics include:

The economic pressures in the health care industry (and response to these pressures by health care organizations)

The relationship between operating results and the financial health of an organization

The economics of managing the cost structure and revenue function of the operating budget process in volume-based and fixed-pay environments.

Course Objectives After completing this course, you will be able to:

- Provide an overview of the economic pressures in the health care industry and responses to these pressures by health care organizations.

- Explore the importance of the relationship between the operating results and the financial health of the health care organization (i.e., the relationship between the Income Statement and the Balance Sheet).

- Review the economics of managing the cost structure and revenue function of the operating budget process in a volume-based and fixed-pay environments (i.e., bundled and capitated).

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 3.5 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 Mark Covaleski, PhD, CPA.

Key Dates Original Course Release Date: June 2016
Course Review and Renewal Date: March 2024
Course Expiration Date: March 2026
Your Course Access Expires: 365 days from your purchase of the course