Note: Self-Study courses are available for 60 days from the first time you login to your 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. Medical practice administrators often carry significant responsibility for the financial management of the medical practice.
This four-week course 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 practice administrator also needs to be able to analyze financial information to improve operations and profitability.
The content is based on competencies identified in the Body of Knowledge for Medical Practice Management developed by the American College of Medical Practice Executives (ACMPE).
Learn How To:
- Demonstrate an understanding of how the accounting process should function in a medical practice
- Evaluate the performance of your practice's revenue cycle
- Develop an awareness of the common risks of misappropriation of financial assets and some procedures that can mitigate those risks
- Manage the practice's cash flow
- Analyze financial statements and other financial information
Self Study
There are also facilitator-led dates for this seminar
Jan. 14 - Feb. 11, 2011
Apr. 15 - May 13, 2011
Course Facilitator and Author
Lee Ann Webster, MA, CPA, FACMPE has served as practice administrator for Pathology Associates of Alabama, P.C. in Birmingham since 1997. She previously worked in national and local CPA firms, where she performed accounting, auditing and tax services for clients in a variety of industries.
She is a Fellow of the American College of Medical Practice Executives (ACMPE) and a certified public accountant in Alabama.
Webster has written several articles on practice management topics and recently authored the Medical Practice Management Body of Knowledge Review Series: Financial Management.
Course Agenda
Week 1: Accounting Basics
- The accounting process
- Financial statement basics
- Cash vs. accrual method of accounting
- Depreciation
- Payroll issues
- Working with financial advisors
Week 2: Revenue Cycle
- Overview of payers
- Reimbursement methodology
- Overcoming obstacles to getting paid
- Revenue cycle indicators
Week 3: Internal Control and Cash Flow
- Internal control risks in a medical practice and procedures to mitigate these risks
- Occupational fraud in a medical practice
- Managing cash flow in a medical practice
Week 4: Financial Reporting and Analysis
- Analyzing financial statements and related data
- Current vs. prior period
- Actual vs. budget
- Financial indicators
- Benchmarking
- Presenting and communicating financial information to physicians and other stakeholders
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
Career Level
Prerequisites
Credit Hours
- 20 credit hours as assigned by ACMPE
System Requirements
- A personal computer with a Pentium processor with either speakers or headphones
- Internet connection with a minimum speed of 56K baud dial-up (DSL, cable or T1 connection is recommended for viewing necessary archived lectures), Internet Explorer or Mozilla Firefox as well as Adobe Flash Player and Adobe Acrobat Reader
- A computer with speakers or headphones is necessary for audio sections
- Note: The MGMA online platform uses “frames” and may not be compatible with software for those who are sight-impaired
What's different about online courses?
Taking a course on the computer can be both different from and similar to a traditional classroom experience. The learning process is the same, but an online course provides immediate resources.
Facilitators and students maintain their traditional roles. The facilitator places lessons and materials online for you to use – you set your own pace. The instructor is available to have a conversation with you, but won’t be online at the same time.
You interact with the course content on the screen, just as though you were in a classroom, and have discussions with classmates on an online discussion board.
You can ask questions or reply to others' questions or responses at any time. You will have exercises to complete on your own. And, as with classroom-based courses, you will have a multiple-choice assessment at the end of each week to gauge your comprehension and progress.
How are the courses formatted?
Generally, online courses follow this weekly format:
- Overview – Learning objectives are explained
- Readings and resources – Read from your textbook and other online materials
- Content – The main topic is presented
- Case studies – Examples illustrating the main topic are provided, based on either small or large group practices
- Practice activities – An assignment related to the main content is given
- Assessment – Complete a multiple-choice exam
- Summary – The week’s content is reviewed, which prepares you for the following week
- Discussion – Participate in a facilitator-led discussion board to get your questions answered and see how your peers apply the information
How does working online add to your education experience?
Online courses provide these convenient features:
- Search – Search for course content
- Notes – Take notes you can save for reference
- Calendar – Review scheduled tasks from the facilitator
- Chat – Talk directly to one or all class participants
- Discussion board – Ask questions and discuss course topics in an open forum with facilitator and classmates
- E-mail – Communicate with the facilitator or any course participant
- Location – View your progress relative to each week’s content
- Assessment – Complete 10-15 multiple-choice questions (not graded) at the end of each week (you can retake the assessment as often as you like)
- Bookmark – Save your place if you need to leave the course and pick up later
How the self-study course works
You will receive textbooks (if applicable) a few days before the start of the course, the course URL and a user name and a password to log in. On the first day, you will be able to log in and proceed through the material week by week or to complete only the weeks most important to you.
There is also a free Webcast recorded by the course facilitator. This recording provides you with important introductory information. If you have questions during this self-study course a facilitator will answer your e-mails once a week. You will have two months to complete the course.
MGMA Online Course - Transfer Policy
If there are unexpected demands on your time or you are not able to complete the course within the six weeks, MGMA strongly recommends you transfer into another course.
Your transfer request must be received within the first two weeks of the course. After that time, you will be charged a $100 administrative fee after two weeks have passed.
Transfer requests by telephone are not valid.
All transfer requests must be submitted in writing to the:
MGMA Learning & Networking Center
Attention: John Crawford
104 Inverness Terrace East
Englewood, CO 80112-5306
Letters may be faxed to 303.784.6099
Cancellation Policy
All registration cancellations must be received by MGMA no later than 48 hours prior to the start of each program and are subject to a $100 processing fee per course.
- No credit or partial or full refund will be made for failure to attend after this date
- Cancellations by telephone will not be accepted
- No credit is available for text materials sent (when applicable)
- All cancellations must be submitted in writing to:
MGMA Service Center
104 Inverness Terrace East
Englewood, CO 80112
Cancellation letters may also be faxed to 303.784.6110
If for any reason, MGMA must cancel one of its programs or turn you away due to limited attendance your registration fee will be refunded in full. However, you are responsible for your own airline and hotel reservations. MGMA cannot be held accountable for any cancellation charges caused by program cancellation or attendance limitations.
Please call the MGMA Service Center toll-free at 877.275.6462, ext. 1888, if you need to send someone in your place. If the new attendee has a different MGMA membership status, the registration fee will be adjusted accordingly.
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