Activity

Activity ID

3038

Expires

May 30, 2020

Format Type

Internet

CME Credit

7.0

Fee

$536 - $630
CME Provider

American Association for Physician Leadership

Description

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

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ABMS Member Board Approvals by Type
More Information
Commercial Support?
No

NOTE: If a Member Board has not deemed this activity for MOC approval as an accredited CME activity, this activity may count toward an ABMS Member Board’s general CME requirement. Please refer directly to your Member Board’s MOC Part II Lifelong Learning and Self-Assessment Program Requirements.

Educational 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

Keywords

Leadership

Competencies

Practice-based Learning & Improvement

CME Credit Type

AMA PRA Category 1 Credit

Physician Well-being activity

Efficiencies in Medical Practice

Practice Setting

Physician Executives

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The information provided on this page is subject to change. Please refer to the CME Provider’s website to confirm the most current information.