(This activity has been approved for 1.75 AMA PRA Category 1 Credits™ )
Graduate Medical Education program directors are convinced that without the labor of resident physicians, teaching hospitals would implode. All physicians understand the training formula that allows the use of cheap resident labor to produce expensive patient care and revenue for host hospitals. Yet the host hospitals see resident physicians as an expense with little revenue potential. This may seem like an irrelevant business question but the impact of this concept is profound. Every business entity has to make a profit or as they say “No money, no mission”. The business of residency training needs to be funded and it is the application of business skills that will ensure its success.
This online course has been prepared for any individual who works as a healthcare provider. There are no prerequisites to participate.
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.
After participating in this activity, participants will demonstrate the ability to:
- Discuss if graduate medical education is a profit or cost center for its hosting health system.
- Discuss if resident physicians are capable of producing revenue for a hospital.
- Identify which reimbursement rules are commonly overlooked in resident billing for services they provide.
- Identify which Medicare rules aid in maximizing resident physician revenue production.
- Describe which business principles program directors need to learn to maximize their efforts to finance graduate medical education.
- Discuss whether federal funding of graduate medical education helps or hinders the hosting health system.
- Analyze a medical organization’s financial health.
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 (102:32)
Estimated time to complete the module and post-test 1.75 hours