American Association for Physician Leadership

Advanced Financial Decision Making

Available dates

On demand
USD 630


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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

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

  • 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.

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