Description
Credit Hours: 3
Accounting, budgeting, and benchmarking are central to business decisions. Medical practices use accounting to record, monitor, and report their financial condition. Practices use budgets to translate what they decide into what they expect to spend and earn. Benchmarks regarding the financial performance of a practice can assist management with complex business decisions. A group practice executive can utilize a wide range of financial benchmarks, including revenue, productivity, accounts receivable, expenses, profitability, and liquidity. By using analytical financial procedures to locate areas of potential financial improvement and opportunity, a practice executive can lead their practice to better financial performance.