Improving the Financial Health of Your Practice

In today’s various medical practice settings, physicians need both useful information and effective techniques to be profitable and financially sound. The information and techniques provided during this seminar can be applied immediately and are applicable for the future no matter how health policy or medical reimbursement changes. Every physician, whether practicing in a small private practice, a multi-specialty practice, as an employee in a large medical organization or an academic medical center, as well as providing care in an Accountable Care Organization (ACO), can benefit from this essential seminar.

Seminar Contents

Session 1

Finance Basics

a) Basics, methods, understanding the numbers

b) Fixed and variable expenses

c) Financial statements – how you are doing

d) Income and cash flow

e) Relative Value Units

Controlling Expenses

a) Human Resource Management

  • Hiring – 5 must interview questions, decreasing turnover
  • Mentoring - management responsibility, techniques
  • Work environment – cross training, motivation, incentives

b) Profitable Leadership – empowerment, example, trust

c) Customer service – external and internal customers, techniques for relationship                   building

Session 2

Revenue Flow Improvements

a) Work Mix Analysis

  • Calculating margins
  • Identifying profitable service lines/products
  • Payer mix benchmarking
  • Maximizing profit

b) Volume Solutions

  • Making sense of marketing
  • Promotion
  • Improving responsiveness
  • Service Improvement – patient/customer experience
  • Quality and outcome measures

c) Practice Efficiency

  • Identify problems
  • Reduce variation
  • Implement Clinical Practice Improvement

Leading and Planning for Success

a) Health care policy -PPACA

b) Reimbursement changes

c) Strategic planning

Seminar Structure

2, 3-hour sessions, with a maximum class size of 30

Session 1

  • 2 hours on Finance Basics
  • 1 hour on Controlling Expenses

Session 2

  • 2 hours on Revenue Flow Improvements
  • 1 hour on Leading and Planning for Success

Seminar Dates, Time, and Location

Date: Session 1 – Saturday, February 25, 2012        Session 2 – Saturday, March 17, 2012

Time: 8am to 12 pm

Location: Loyola University in Maryland – Conference Center

2034 Greenspring Drive, Timonium, MD 21093

Seminar Fees and Registration

The fee for each session is $150 per participant. Participants can register by emailing either Paul Gurny at [email protected] or David Joyce at [email protected]. Payment is required in advance and checks should be made payable to: ES4P, LLC

and sent to:

Essential Seminars for Physicians, LLC

P.O. Box 885, Sparks, MD 21152


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