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This course is a module of the full Financial Management Boot Camp course.
Physicians, nurses, and other clinical staff members strive to provide quality care, excellent customer service, and the latest medical technology to their patients. Increasingly, clinical excellence depends on sound financial management providing an infrastructure that allows those talented clinical professionals to effectively serve the practice’s patients. Practice administrators often carry significant responsibility for the financial management of the practice.
This module covers basic financial knowledge needed to manage a medical practice, including financial statements, the accounting process, the revenue cycle, cash flow and internal control. Today’s successful administrator also needs to be able to analyze practice financial information to improve operations and profitability. Accordingly, the final week of this course focuses on interpreting financial statements and using analytical techniques such as comparisons, ratio analysis and benchmarking.
This module provides training for medical practice administrators in the fundamental financial knowledge and skills needed to do their job. The content is based on competencies identified in the Body of Knowledge for Medical Practice Executives developed by the American College of Medical Practice Executives (ACMPE). After completing this module, you will be able to explain how the accounting process should function in a medical practice.
Who should participate:
- Those studying for the ACMPE certification exams
- Those new to practice management
- Those in practice management without a financial background who want to improve their financial skills
Beginner to intermediate
5 credit hours as assigned by ACMPE
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