Financial Skills for Executive Decision Making

Understanding the language of financial concepts and their application is critical to the success of physician leaders. This course will demystify the language, tools and application of finance and help prepare you to apply them to the goals of your organization. The course will also focus on increased understanding of finance terminology, the application of tools utilized, and how decisions are made from a financial investment perspective. Participants will walk away with a thorough understanding of how financial decisions can impact their organization.

Topics Include:

• Application and understanding of financial and accounting statements.
• Managing costs and budgets for enhanced performance.
• Tools to understand and manage productivity.
• Understanding capital markets and internal investments.
• Investing to meet strategic needs and goals.
• Understanding value creation for your organization, balancing cost, quality, and satisfaction.

Course Objectives

• Accurately interpret accounting and finance statements.
• Utilize measures of financial performance, including ratio analysis.
• Explain the budgeting process and differences between operating and capital.
• Use tools and techniques to manage cost to increase value.
• Evaluate and prioritize investment opportunities through value-based decision making.
• Explain the significance of capital markets and factors influencing investments.

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.

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 14 AMA PRA Category 1 Credit(s) ™. Physicians should claim only the credit commensurate with the extent of their participation in the activity.