This course is comprised of the lectures below.

Part I: Financial Principles

Description

Part I discusses six financial principles that require focus to successfully manage a health care enterprise, be it small or large. This course covers risk and decision criteria, financial statements, and optimal application of financial information. There’s more to consider than just the bottom line!

Goals & Objectives:
At the conclusion of this course, the attendee should be able to:

1. Understand basic financial principles in business including:
   1. Risk/return concept;
   2. Time value of money
   3. Competitive market dynamics
2. Comprehend different financial statements including:
   1. Balance Sheet
   2. Income Statement
   3. Cash Flow Statement
3. Differentiate assets and liability classes
4. Focus on important financial ratios

Part II: Ratios, Budgeting & Economics

Description

Economics need not be a dirty word. This session will help you better understand cost behaviors, key indicators to track, and market forces influencing health care services. Part II builds on the information from Part I and progresses into financial ratios and budgeting. No need for high level math… simple arithmetic and a desire to learn are the only things you’ll need.

Goals & Objectives:
At the conclusion of this course, the participant will be able to:

1. Understand budgets, including:
   1. Why budget
   2. Types of budgets
2. Comprehend the following economic factors:
   1. Profit
   2. Supply vs. demand
   3. Managed care economics
   4. Negotiations
3. Identify key tracking indicators

Continuing education credits

This course is acceptable for credit in most states for PTs and PTAs.