Health Care Accounting & Finance

Sept. 13-14, 2018 or Feb. 21-22, 2019 | 8 a.m. - 5 p.m. | (1.6 CEUs)

 

COURSE OBJECTIVE
Enhance understanding of financial fundamentals for non-accounting health care professionals.

COST
$2,840

INSTRUCTOR
Liz Alhand, RN, CPA | Bio

DISCUSSION AGENDA

DAY 1
Topic Time

Breakfast

8-8:30 a.m.

Welcome and Introductions

8:30-8:45 a.m.

Articulating Expectations

  • Why Are You Attending?
  • What Specific Skills Do Want to Acquire?
  • How Will You Define Success?

8:45-9:15 a.m.

Why Money Matters

  • Non-Profit Versus For-Profit Health Care
  • Making Coke Cola versus Health Care
  • Compare a Hospital to Buffet Dinners
  • Funding Sources (No Pay, Low Pay and Slow Pay)
  • Differences between Charges, Revenue & Reimbursement

9:15-10:15 a.m.

Break

10:15-10:30 a.m.

Balancing the Vital Equation

  • Performance
  • Cash Reserves
  • Leverage
  • Re-invest in the Future
  • Importance of Fund Raising and Grants

10:30-11:15 a.m.

Bonds 101

  • What is Debt?
  • Role of Credit Rating Agencies
  • Telling Your Story
  • Oops!!! Default

11:15 a.m. -12 p.m.

Lunch

12-12:45 p.m.

Interpreting Financial Statements

  • Accounting Fundamentals
  • Statement of Activity (Income Statement)
  • Statement of Financial Position (Balance Sheet)
  • Statement of Cash Flows

12:45-2 p.m.

Evaluating Operating Results

  • Actual versus Budget
  • Actual versus Prior Year
  • Variance Analysis
  • Trends Analysis
  • Comparative Analysis
  • Benchmarking
  • Monthly Operating Review

2-2:30 p.m.

Break

2:30-2:45 p.m.

Telling the Operating Performance Story (Metrics)

  • Utilization
  • Profitability
  • Liquidity
  • Capital Structure
  • Efficiency

2:45-3:30 p.m.

Assignments, Group Break-out Session: Analyze the Situation & Report-Out

3:30-4:30 p.m.

Good Things, Bad Things & What Next?

4:30-5 p.m.

DAY 2
Topic Time

Breakfast

8-8:30 a.m.

Welcome & Refresher: What We Want to Understand

8:30-8:45 a.m.

Defining the Roles

  • Governing Board/Committees
  • C-Suite
  • Physicians
  • Functional Leadership
  • Front-line Process Owners
  • Who Does What in Finance & Accounting Division?

8:45-9:15 a.m.

Understanding the Fiscal Rhythm

  • Long-range Strategic & Financial Planning
  • Capital Planning and Allocation
  • Operating Budgets
  • Actual Performance and Budget Variance
  • Corrective Action Plans
  • Internal Reporting
  • External Reporting
  • Monthly Operating Reviews

9:15-10 a.m.

Break

10-10:15 a.m.

Integrating Strategic and Financial Planning

  • What is Strategy
  • Establish Linkage between Strategy & Resource Requirements
    • Physical Assets-Capital
    • Intellectual Capital
    • Human Capital
    • Enterprise-wide Initiatives

10:15-11 a.m.

Introduction to Capital Planning & Allocation   

  • Rationale for Capital Planning
  • Developing a Capital Formation Plan
  • Why Capital Allocation is Necessary
  • Key Components of a Sound Capital Plan
  • Decision Criteria
  • ROI, NPV & IRR
  • Post-implementation Review

11-11:45 a.m.

Lunch

11:45 a.m.-12:30 p.m.

Importance of  Service Line Analysis

  • Functional versus Service Line Reporting
  • Fundamentals of Cost Accounting
  • Cost Behavior and Drivers
  • Contribution Margin

12:30-1:30 p.m.

Break-Out Groups & Pitch:  Give Me the Money!!

1:30-2:15 p.m.

Decision to Allocate the Money & Feedback

2:15-2:45 p.m.

Break

2:45-3 p.m.

Measuring & Managing Financial Risk

  • Funding Sources
  • Competitors
  • Malpractice
  • Compliance
  • IRS
  • General Liability

3-3:30 p.m.

Talking to the Board

3:30-4:30 p.m.

Good Things, Bad Things & Summary

4:30-5 p.m.

 


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