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