(This activity has been approved for 1.25 AMA PRA Category 1 Credits™)
DESCRIPTION
All physicians have capital requirements in their practice. Whether it is hiring a new employee, purchasing a new piece of equipment or updating/starting a new service line, it all takes money. Yet while the ins and outs of capital have not been part of our medical education we are still required to be the main decision makers. How do we usually deal with this? We don’t. We outsource these decisions to our administrative personnel who may or may not know any more than we do. Part 1 continues your finance education and allows you to learn the basics of where to get money, how much debt is good and the cost of capital. Part 2 tells you how to spend it appropriately and outlines the steps to craft a proposal for equipment that you need, or to make decisions about capital spending in your organization.
INTENDED AUDIENCE
This online course has been prepared for any individual who works as a healthcare provider. There are no prerequisites to participate.
FACULTY
Paul Gurny M.B.A. M.S. Managing Director, Essential Seminars for Physicians LLC., Senior Professional Instructor, Johns Hopkins Carey Business School
David Joyce M.D. M.B.A. Director of Educational Programs, Essential Seminars for Physicians LLC.
OBJECTIVES
After participating in this activity, the participant will demonstrate the ability to:
- Identify where to acquire capital.
- Discuss the good and the bad aspects of debt, how much to own and how much to borrow.
- Explain what factors contribute to the cost of money.
- Name asset acquisition basics: new equipment, new provider, new service line.
- Explain capital budgeting - Who gets what and why.
The video tutorial is divided into 20 - 30 minute segments to enhance the learning experience. It can be viewed on any smart device an unlimited number of times, 24 hours a day, 7 days a week.
Total viewing time (53:35)
Estimated time to complete the module and post-test 1.25 hours