Healthcare providers in administrative, ownership, and program development roles are often required to decipher information found within the balance sheet and income statement (P&L) of a private practice or rehabilitation department. The provider's ability to understand these common statements is critical to her ability to make important business decisions, as well as to comprehend the true financial status of a business or organizational unit. Additionally, understanding the concept of cash flow, and how to manage this important aspect of a healthcare business, is vital to one’s ability to responsibly manage and guide a business in the right direction.
In this presentation, I discuss in detail the balance sheet and income statement, as well as the issues surrounding management of cash flows in the private practice or organizational setting. We will discuss how these statements are created and used for management purposes, and how management of cash flow requires monitoring techniques separate from the information that can be found on the balance sheet and income statement.
ObjectivesUpon completion of this presentation, attendees will:
- Understand to whom financial analysis is relevant, and why
- Understand the basics of a balance sheet (how one is created, how it should be used in the management of a practice or an organization)
- Understand the basics of an income statement (P&L) (how it is created, how it should be used in the management of a practice or an organization, how it provides information distinctly different from the balance sheet)
- Understand the importance of monitoring cash flow, separate from the income statement (P&L)
If you've attended Finance 101 and would like to access your downloads and/or presentation materials, please visit visit our seminar downloads page.
For more information on this educational topic, or to learn more about Vantage educational events, please contact us online or give us a call at (866) 259-0264. For information on other previous events, please use the links below.
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