Financial Management of Practices Case Studies (3 modules)

Module 1 - Revenue Cycles Case Study

Financial Management of Practices Case Studies (3 Modules)

Many physicians are not trained to understand that business side of healthcare and this often gets in the way or providing quality patient care. Organizations are increasingly putting pressure on physicians to provide cost-effective care at the appropriate setting; however, this is not always simple given the policies and procedures that are in place at various organizations. There is also an added level of complexity from the insurance perspective as payers set limits and boundaries on what may or may not be covered. As a result, physicians are often left at the mercy of their administrative counterparts to "figure out" the business side of healthcare.
The 3-module online course uses case studies and focus on the financial performance of the clinical care component of an academic neurology practice. 

Introduction and Revenue Cycles Case Study - Module 1

The Introduction includes a brief exercise that draws parallels between a clinician's evaluation of a patient's lab tests with a focus on normal ranges and the relevant financial indicators of a practice and their normal ranges.

The Revenue Cycle case study discussion is aimed at selecting a small number of metrics that the physician practice leader can use to monitor the revenue cycle compared to the measures the practices revenue cycle manager is monitoring. 

Learning Objectives

• Identify financial metrics that aid in physician practice management.
• Demonstrate understanding of benchmarking.
• Distinguish differences in adjudication rate and gross collection rate.

Faculty

James Heffernan
Senior Vice President Finance & Treasurer
Massachusetts General Hospital Physicians Organization, (MGPO) 

Course Fees

• MMS Member Physicians: $12.00
• Nonmember Physicians: $22.00
• Allied Health Professionals: $9.60 

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: April 1, 2015
Review Date: October 1, 2016
Termination Date: April 1, 2018

System requirements:

Desktops/Laptops
Windows, XP, Vista, 7, 8
Mac OSX 10.6 higher
Most modern browsers including:
IE8,9,10
Firefox 18.0+
Chrome 26+
Safari 5+
Flash player is required for some Online CME courses.

Mobile/Tablet
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.

Module 2 – Finance and Budgeting Case Study

The Finance and Budgeting case study discusses the value of a plan and the comparison of actual performance to plan as well as trends. The case introduces comparisons to benchmarks as a process to identify opportunities for practice improvement.

Learning Objectives  

• Define financial performance measures.
• Assess practice budget and financial organizational obligations.
• Identify margin improvement tactics.
  
  

Faculty

James Heffernan
Senior Vice President Finance & Treasurer
Massachusetts General Hospital Physicians Organization, (MGPO)

Course Fees  

• MMS Member Physicians: $12.00
• Nonmember Physicians: $22.00
• Allied Health Professionals: $9.60

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: April 1, 2015
Review Date: October 1, 2017
Termination Date: April 1, 2018

System requirements:

Desktops/Laptops
Windows, XP, Vista, 7, 8
Mac OSX 10.6 higher
Most modern browsers including:
IE8,9,10
Firefox 18.0+
Chrome 26+
Safari 5+
Flash player is required for some Online CME courses.

Mobile/Tablet
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.

Module 3 – Compensation Planning Case Study

The Compensation Planning case study discusses a comparison of productivity measures such as NDI (net distributable income) to an RVU based model. The case will also introduce the concept of paying for and incenting non-productivity based components of compensation such as: seniority, honors, access, and quality and safety performance.

Learning Objectives

• Define advantages and disadvantages of Relative Value Units (RVUs)
• Assess different physician compensation models.
• Evaluate salary/cash versus fringe benefits.
  
  

Faculty

James Heffernan
Senior Vice President Finance & Treasurer
Massachusetts General Hospital Physicians Organization, (MGPO)

Course Fees  

• MMS Member Physicians: $12.00
• Nonmember Physicians: $22.00
• Allied Health Professionals: $9.60 

Format

Text & Graphics

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: April 1, 2015
Review Date: October 1, 2017
Termination Date: April 1, 2018
 

System requirements:

Desktops/Laptops
Windows, XP, Vista, 7, 8
Mac OSX 10.6 higher
Most modern browsers including:
IE8,9,10
Firefox 18.0+
Chrome 26+
Safari 5+
Flash player is required for some Online CME courses.

Mobile/Tablet
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.