Activity

Activity ID

2554

Expires

December 31, 2020

Format Type

Internet

CME Credit

24.0

Fee

$1745
CME Provider

American Association for Physician Leadership

Description

Gain the knowledge and skills to turn financial mysteries into useful tools by enrolling in Techniques of Financial Decision-Making. The course focuses on operations and investment, and the integration of financial principles. Physician leaders will explore the basic principles of finance along with the mechanical skills of financial tools. The curriculum will demonstrate ways to budget and manage costs, and show physician leaders how to make practical investments for short- and long-term goals in a competitive marketplace.

Topics include:

• Productivity and performance enhancement
• The difference between accounting and finance
• The budgeting process
• The cost of capital
• Creating competitive value

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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

• Interpret financial statements to determine what they say about the economic health of your organization.
• Define the basic types of financial ratios and their uses to interpret financial statements
• Identify the economic principles used to conceptualize a health care delivery organization, and the relationships between the private sector organizations, whether for-profit or non-profit, and the capital markets in which it functions.
• Explore the basic concepts behind and relationships among opportunity costs, (required) rate-of-returns and costs-of-capital.
• Discuss the significance of cost analysis as it relates to the economics of services
• Apply knowledge of cost structure and behavior to critical budgeting tools
• Describe the basic concepts and mechanics of present value (including annuities) and net present value as tools for analyzing competing (alternative) uses of scarce organizational resources
• Explain why present value tools are superior to conventional approaches for analyzing competing (alternative) uses of scarce organizational resources
• Explain why present value tools are superior to conventional approaches for analyzing resource allocation decisions
• Articulate the advantages of incremental analysis over aggregate analysis, and differences of operational cash flows from capital (financing) cash flows
• Mobilize relevant costs to aid decision analyses in different economic risk payment environments; i.e., the shit of payment from volume-centric to value-centric, extending into assessment of Population Health ROI.

Keywords

leadership, finance, business skills

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.