Financial Management For Medical Groups

Drawing on the expertise of multi-degreed doctors, and multi-certified financial advisors, Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical PlannersTM will shape the industry landscape for the next generation as the current ecosystem strives to keep pace. Traditional generic products and sales-driven advice will yield to a new breed of deeply informed financial advisor or Certified Medical PlannerTM. The profession is set to be transformed by "cognitive-disruptors" that will significantly impact the $2.8 trillion healthcare marketplace for those financial consultants serving this challenging sector. There will be winners and losers. The text, which contains 24 chapters and champions healthcare providers while informing financial advisors, is divided into four sections compete with glossary of terms, CMPTM curriculum content, and related information sources. For ALL medical providers and financial industry practitioners For NEW medical providers and financial industry practitioners For MID-CAREER medical providers and financial industry practitioners For MATURE medical providers and financial industry practitioners Using an engaging style, the book is filled with authoritative guidance and healthcare-centered discussions, providing the tools and techniques to create a personalized financial plan using professional advice. Comprehensive coverage includes topics likes behavioral finance, modern portfolio theory, the capital asset pricing model, and arbitrage pricing theory; as well as insider insights on commercial real estate; high frequency trading platforms and robo-advisors; the Patriot and Sarbanes–Oxley Acts; hospital endowment fund management, ethical wills, giving, and legacy planning; and divorce and other special situations. The result is a codified "must-have" book, for all health industry participants, and those seeking advice from the growing cadre of financial consultants and Certified Medical PlannersTM who seek to "do well by doing good," dispensing granular physician-centric financial advice: Omnia pro medicus-clientis. RAISING THE BAR The informed voice of a new generation of fiduciary advisors for healthcare

You'll learn the fundamentals of financial management, including financial analysis, budgeting, cash-flow analysis and cost accounting. Find information on managed care, access to capital, financial information systems and accountability in health care. A must-have for your practice's bookshelf.

In this book, a world-class editorial advisory board and an independent team of contributors draw on their experience in operations, leadership, and Lean managerial decision making to share helpful insights on the valuation of hospitals in today‘s changing reimbursement and regulatory environments.Using language that is easy to understand, Financia

Today's evolving healthcare environment demands that every medical practice manager, whether experienced or new to the field, be highly proficient in all aspects of financial management. The third edition of this MGMA best-selling book is a comprehensive resource that addresses topics from the basics of accounting and finance to evaluating the impact on medical practices of changing regulatory and reimbursement environments. The book provides you with the information and context you need to build your foundational financial management knowledge and apply it to the changing world of medical practice management. Read the entire book or use it as a reference on topics such as: Cost accounting for pricing and managing the practice Government payment regulations Capital budgeting and acquisitions Benchmarking and reporting Physician profiling Outcomes-based research Fraud and compliance Accountability perspectives Revenue cycle management Payer contracting Relative value units Budgeting Practice management software Investments

This text presents basic concepts of economics and tools for financial management in the health care arena, including budgeting, breakeven analysis, financial reporting, business plan preparation, and grant writing. The text includes practical case examples drawn from actual health care settings to relate theory to real-world practice. A sample grant proposal and unique grant writing chapter will prepare students for this critical aspect of management. A free, back-of-book CD-ROM provides sample worksheets for analyzing budgets and determining breakeven points, cost-benefit, and cost-effectiveness, as well as sample budgets. Students can use the worksheets to apply their own data and complete their own analyses.

Learn the essentials of finance theory and practice with the tools needed in day-to-day practice In this thoroughly revised and updated fourth edition of Fundamentals of Health Care Financial Management, consultant and educator Steven Berger offers a practical step-by-step approach to understanding the fundamental theories and relationships guiding financial decisions in health care organization. Using cases set in a fictional mid-sized hospital, the book takes the reader into the inner workings of the finance executive's office. As in the previous editions, this book introduces students to key practical concepts in fundamental areas of financial management. This innovative introduction to the most-used tools and techniques includes health care accounting and financial statements; managing cash, billings and collections; making major capital investments; determining cost and using cost information in decision-making; budgeting and performance measurement; and pricing. Also covered in depth are the financial implications of Patient Protection and Affordable Care Act, which will increase patient volume, reduce bad debt, factor quality and patient satisfaction into the financial picture, and significantly affect how hospitals and physicians are paid for services. Students focusing on the business side of health care will find Fundamentals of Health Care Financial Management: A Practical Guide to Fiscal Issues and Activities, 4th Edition a valuable text for understanding the workings of the health care financial system.

Thoroughly revised, this third edition of Financial Management of Health Care Organizations of­fers an introduction to the most-used tools and techniques of health care financial management. Comprehensive in scope, the book covers a broad range of topics that include an overview of the health care system and evolving reimbursement methodologies; health care accounting and finan­cial statements; managing cash, billings, and collections; the time value of money and analyzing and financing major capital investments; determining cost and using cost information in decision-mak­ing; budgeting and performance measurement; and pricing. In addition, this new edition includes information on new laws and regulations that affect health care financial reporting and performance, revenue cycle management expansion of health care services into new arenas, benchmarking, interest rate swaps, bond ratings, auditing, and internal control. This important resource also contains information on the 2007 Healthcare Audit Guide of the American Institute of Certified Public Accountants (AICPA). Written to be accessible, the book avoids complicated formulas. Chapter appendices offer advanced, in-depth information on the subject matter. Each chapter provides a detailed outline, a summary, and key terms, and includes problems in the context of real-world situations and events that clearly illustrate the concepts presented. Problem sets that end each chapter have been updated and expanded to support more in-depth learning of the chapters’ concepts. An Instructor’s Manual, available online, contains PowerPoint and Excel files.

In this thoroughly revised and updated third edition of Fundamentals of Health Care Financial Management, consultant and educator Steven Berger offers a practical step-by-step approach to understanding the fundamental theories and relationships guiding financial decisions in health care organization. Set in a fictional mid-sized hospital, the book is written in diary form, taking the reader into the inner workings of the finance executive's office. This introduction to the most-used tools and techniques of health care financial management includes health care accounting and financial statements; managing cash, billings and collections; making major capital investments; determining cost and using cost information in decision-making; budgeting and performance measurement; and pricing. As in the previous editions, this book introduces key practical concepts in fundamental areas of financial management.