Massachusetts Medical Society: Finance 101 for Physicians and Practice Administrators

Finance 101 for Physicians and Practice Administrators

Finance 101 for Physicians and Practice Administrators

Course Overview

The changing environment of healthcare, healthcare reform and new payment models are significantly impacting all providers. Solo practitioners and small to mid-size groups are reporting that they are ready for the changes in providing care, but do not have the training and expertise for the business aspects, specifically the new financial management, of providing healthcare.  Many physicians and healthcare administrators do not have specific training and background in finance. This knowledge will be necessary to operate a successful practice under healthcare reform models and payment structures. 

Physicians and administrators will need to learn how to read and understand balance sheets, financial risk, capital planning, and how to best balance lower costs while achieving improved patient care quality and patient outcomes.

This CME activity, Finance 101 for Physicians and Practice Administrators , was developed in conjunction with Massachusetts - Rhode Island Chapter of the Health Financial Management Association  in order to address the need for information in the area of financial management.

Learning Objectives

  • Develop an understanding of financial statements and apply that knowledge in the process of financial analysis.
  • Explore the dynamic factors affecting the financial management of healthcare organizations.
  • Integrate best practice tips into every day practice operations.
  • Apply key considerations and actionable steps to financial success in the future.

Course Faculty

James L. Heffernan is the Senior Vice President of Finance & Treasurer of the Massachusetts General Physicians Organization (MGPO)

Course Fees

MMS Member Physicians: $12 Nonmember Physicians: $22 Allied Health Professionals: $9.60

Format:  Slides w/Audio

CME Credit:  1.00 AMA PRA Category 1 Credit™

Accreditation Statement  
The Massachusetts Medical Society is accredited by the Accreditation Council for Continuing Medical
Education to provide continuing medical education for physicians.

AMA Credit Designation Statement 
The Massachusetts Medical Society designates this enduring material for a maximum of 1.00 AMA PRA Category 1 Credit(s)™. Physicians should claim only the credit commensurate with the extent of their participation in the activity.

National Commission on Certification of Physicians Assistant (NCCPA).

Physician Assistants may claim 1.00 Category 1 credits for completing this activity. NCCPA accepts AMA PRA Category 1 Credit(s)™ from organizations accredited by ACCME or a recognized state medical society.

A score of 70% or higher is required to receive AMA PRA Category 1 Credit(s)™ .  

Activity Term
Original Release Date: August 12, 2013
Review Date: February 12, 2015, August 12, 2016, February 12, 2018  
Termination Date: August 12, 2018

System requirements:

Windows, XP, Vista, 7, 8
Mac OSX 10.6 higher
Most modern browsers including:
Firefox 18.0+
Chrome 26+
Safari 5+
Flash player  is required for some Online CME courses.

iOS devices beginning with OS version 5 or higher (includes, iPhone, ipad and iTouch devices) Android devices including tablets and phones.
Windows RT and tablets on Windows 8 are also supported.


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