Financial Acumen for Physician Leaders
The primary role of finance is to plan for, acquire and utilize resources to maximize efficiency and create value for the organization’s mission. During this activity, the functions of finance in a physician enterprise will be reviewed, including the process for budget preparation. Financial statements, key performance indicators, and key drivers of revenue and expenses will also be discussed.
At the end of this educational activity, participants should be able to:
- Identify the various functions of finance in a physician enterprise.
- Explain the basics of budgets and the five-step-process for budget preparation.
- State the key drivers of revenue and expenses and how these impact net income/loss.
- Interpret income statements, key performance indicators (KPIs) and related benchmarks.
Mike Ford, MBA
Physician Engagement Executive
Cindy Logan, MSA
Physician Engagement Executive
About the presenters
Mike Ford, MBA, brings over 25 years of health care experience in physician group practice leadership and consulting with a proven track record in operational and financial performance, M&A and network development.
Prior to joining MedSynergies, Mike founded and served as president and CEO for Medalliance Management Group, Inc. Mike also held the position as president of a privately funded revenue cycle management services organization focusing in the emergency medicine and radiology services arena, as well as directing the patient accounting services activities for a regional hospital network.
He has served in faculty positions with the Quillen College of Medicine, East Tennessee State University, the American College of Emergency Physicians, and the Tennessee Chapter of the Medical Group Management Association.
Mike holds a BBA in finance from The College of William and Mary, and an MBA from Bristol University, Tenn.
Cindy Logan, MSA, brings over 25 years of health care industry experience in health care IT, revenue cycle services, financial reporting, strategic client management, and consulting.
Prior to joining MedSynergies, Cindy has held positions as director of client services for an ambulatory revenue service center, SCL Health, and vice president of client management for ALN Medical Management leading a portfolio of programs including PM/EMR implementation, Meaningful use, ICD-10 readiness and revenue cycle management.
Cindy holds an MSA in health care from the University of Notre Dame, and a BS in business from the University of Colorado. Additionally, Cindy is Epic 2015 Certified in Cadence and Prelude (scheduling and registration), and holds a certificate in health informatics for innovation, value and enrichment from Columbia University.
Sarah Chart, RN
Mike Ford, MBA
Rebecca Gleason, RN
Cindy Logan, MSA
Dustin Zabokrtsky, MBA, MA
Disclosures of Relevant Financial Relationships
In accordance with the ACCME Standards for Commercial SupportSM, OptumHealth Education requires all those in the control of activity content to disclose their relevant financial relationships. An individual has a relevant financial relationship if such person (or his/her spouse/partner) has a financial relationship in any amount occurring in the last 12 months with a commercial interest whose products or services relate to the activity content.
OptumHealth Education ensures that the content is independent of commercial bias.
Ms. Chart and Ms. Gleason have indicated that they are employees of and own stock in UnitedHealth Group.
Mr. Ford, Ms. Logan, and Mr. Zabokrtsky have indicated that they are employees of MedSynergies.
Method of participation
There are no fees for participating in or receiving credit for this activity. For information on applicability and acceptance of continuing education credit for this activity, please consult your professional licensing board.
Participants will receive a certificate upon successful completion of the activity, which includes the following:
- Completing the entire activity
- Completing the pre- and post-activity assessments, activity evaluation and application for certificate of credit
You must be logged into your account to participate in this activity. Get started by clicking “Begin” and viewing the “CE Info”; then follow the prompts at the bottom of the screen. At the end of the activity, you will be able to view, save or print your certificate of participation. The Area of Practice you indicated in your profile corresponds with your certificate type. A complete listing of all of your activities can be found under “My Account,” “My Activities.”
Method for Calculating CE Credit
CE credit was calculated by the complexity of content.
In support of improving patient care, OptumHealth Education is jointly accredited by the Accreditation Council for Continuing Medical Education (ACCME), the Accreditation Council for Pharmacy Education (ACPE), and the American Nurses Credentialing Center (ANCC) to provide continuing education for the health care team.
Credit designation statements
OptumHealth Education designates this enduring activity for a maximum of 1.00 AMA PRA Category 1 Credit(s)™. Physicians should claim only the credit commensurate with the extent of their participation in the activity.
The American Academy of Physician Assistants (AAPA) accepts credit from organizations accredited by the ACCME.
The American Academy of Nurse Practitioners Certification Program (AANPCP) accepts credit from organizations accredited by the ACCME and ANCC.
A certificate of attendance will be provided to learners upon completion of activity requirements, enabling participants to register with licensing boards or associations that have not been pre-approved for credits. To apply for credit types not listed above, participants should use the procedure established by the specific organization with which they wish to obtain credit.
This activity is provided by OptumHealth Education.
There was no commercial support received for this activity.
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This activity is designed to meet the educational needs of physicians and other health care professionals (HCPs) who have an interest in finance in a physician enterprise.
- 1.00 AMA
- 1.00 Attendance