Financial
Skills
Listed and described below are programs
dealing with financial knowledge and skills. They are primarily aimed
at non-financial managers and are aimed at improving their ability to
manage effectively. These programs are all available on an inhouse or
contract basis for your organization to offer to your associates. If
you wish to discuss any of these offerings in more detail, please
call Mary Hofbauer Brown at (410)
379-6200. You can also send email to
mhbrown@mhaonline.org
Like it or not, healthcare has become a business. Resources are
scarce and stretched to the breaking point. Doing more with less is
the routine. The need for sound business management tools &endash;
survival skills &endash; is paramount.
Unfortunately, healthcare managers have traditionally risen from
the professional ranks with little or no formal business training. As
a result, many are thrust into a chaotic environment without the
necessary business management tools. Skills in planning and
budgeting, financial analysis, performance management and resource
maximization are essential if they are to achieve the institution's
mission and contribute to "bottom line" results. In a very real
sense, these represent survival skills for both managers and
institutions.
These seminars provide managers with the tools they need to manage
scarce resources more effectively, to achieve the mission, to succeed
in today's chaotic healthcare environment.
Clicking on any of the titles below will
give you a more complete description of the program.
- Advanced Financial and
Clinical Data Management
- Analytical Tools for Healthcare
Managers
- Departmental Financial Management
for Nurse Managers
- Doing More with Less... Increasing
Productivity
- Financial Management for Middle
Managers
- How to Read
Corporate Financial Statements
- Managed Care Readiness
Workshop
- Managing Your Department's Financial
Resources under Managed Care
- Reading and
Understanding Financial Performance Reports
- The Basics of Budgeting for Non-Financial
Managers
- The Basics of Managed
Care
- Understanding Managed Care...
Achieving Success as a Manager
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Financial
Management for Middle Managers
This program offers middle managers the business management tools
they will need to manage scarce resources more effectively in an era
of cost containment and managed care..
Objectives:
- Read and understand departmental financial performance reports
and the sources of information contained in them,
- Determine the underlying causes of performance deviations
using a sophisticated variance analysis technique,
- Forecast expenses based on historical data and other
information,
- Analyze work processes to identify opportunities to enhance
productivity and improve customer satisfaction, and
- Develop customized standards for productivity and resource
management
- Audience: Middle
managers.
- Length: 1
day.
- Faculty:
Bill Ward
- RETURN TO PROGRAM
LIST
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Managing
Your Department's Financial Resources
under Managed
Care
Managed care is dramatically changing the way care is delivered.
To succeed in a managed care environment, managers need to improve
their financial management skills to control costs, reduce spending,
streamline operations and "do more with less." This day-long program
provides proven business management tools to help get more from
dwindling resources.
Objectives:
- Discuss the implications of the cost reducing mandates of
managed care,
- Demonstrate how to analyze financial performance,
- Explain process flow analysis to identify opportunities for
streamlining operations,
- Show how to benchmark their performance,
- Describe approaches to maintaining or reducing operating
costs,
- Demonstrate operational forecasting and benefit:cost ratio
analysis, and
- Describe an approach to developing an effective action
plan.
- Audience: Middle
managers.
- Length:
1 day
- Faculty:
Bill Ward
- RETURN TO PROGRAM
LIST
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Departmental
Financial Management for Nurse Managers
This program offers nurse managers the business tools to balance
their clinical skills. It provides the financial management tools
they will need to manage scarce resources more effectively in an era
of cost containment and managed care.
Objectives:
- Discuss departmental financial performance reports and the
sources of information contained in them,
- Demonstrate how to perform variance analysis to determine the
underlying causes of performance deviations,
- Prepare forecasts based on historical data and other
information,
- Use process flow analysis to identify opportunities for
streamlining operations, and
- Develop customized productivity and resource management
standards.
- Audience: Nursa
managers.
- Length: 1
day.
- Faculty:
Bill Ward
- RETURN TO PROGRAM
LIST
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Doing
More with Less... Increasing Productivity
This full day workshop provides managers with sensible approaches
to increasing productivity -- more work output from the same or fewer
resource inputs. The results can be significant cost savings,
improved quality, and increased competitiveness . . . essential
elements of any survival strategy. The program gives managers a
working knowledge of productivity enhancing techniques as well as
approaches to measuring productivity.
Objectives:
- Describe the importance of productivity in today's healthcare
environment,
- Describe approaches to increasing productivity,
- Analyze departmental productivity levels to determine where
and how to improve them, and
- Develop a customized productivity and resource management
tool.
- Audience:
Middle managers
- Length:
1 day.
- Faculty:
Bill Ward
- RETURN TO PROGRAM
LIST
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Analytical
Tools for Healthcare Managers
This intense program provides a concentrated approach to
analytical tools that are helpful in managing scarce resources in
today's environment. Participants will gain a working knowledge of
the calculations and methods that will enhance their ability to
manage their budgets, control costs, and increase productivity.
Objectives:
- Develop budgets for personnel, salaries, supplies and
services,
- Perform variance analysis to determine the underlying causes
of performance deviations,
- Prepare forecasts based on historical data and other
information,
- Use benefit:cost ratio analysis to improve the decision making
process,
- Analyze departmental productivity levels to determine where
and how to improve them, and
- Develop customized productivity and resource management
standards.
- Audience:
Middle managers
- Length:
1 day
- Faculty:
Bill Ward
- RETURN TO PROGRAM
LIST
The Basics of
Budgeting for Non-Financial Managers
Participants will gain a working knowledge of operating and
capital budgeting. As a result of attending this day long seminar,
they will be more confident in their approach to budgeting.
Objectives:
- Calculate a volume budget,
- Determine staffing levels needed to support a given level of
business activity,
- Make the calculations and prepare a salary budget that
includes base salary, raises during the year, shift and other
premium payments,
- Develop a budget for supplies and services, and
- Prepare a capital budget.
- Audience:
Middle managers
- Length:
1 day
- Faculty:
Bill Ward
- RETURN TO PROGRAM
LIST
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Advanced
Financial and Clinical Data Management
This seminar will renew and refresh
financial management skills, stressing: benefit:cost ratio
analysis, including the use of net present value; marginal analysis;
the importance of net vs. gross revenue; and the behavior of fixed,
variable and semi-variable costs. A case study incorporating
financial and clinical data will be used to hone management skills.
The program can be run on a long day (morning into evening),
day-and-a-half or two-day schedule.
Objectives:
- Strike a balance between clinical need and the financial
imperative,
- Explain the role of financial analysis in the clinical
setting,
- Use clinical and financial information to maximize scarce
resources and achieve stated objectives, and
- Develop an action plan to achieve improved financial
performance.
- Audience:
Department managers, especially
in clinical departments
- Length:
1.5 or 2 days. Two-day version
includes a section on understanding the complex relationships
associated with organizational downsizing.
- Faculty:
Bill Ward
- RETURN TO PROGRAM
LIST
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The
Basics of Managed Care
This half-day program provides an basic overview of managed care.
It begins with an assessment of the current reimbursement
environment, explores the goals restructuring and the forces of the
marketplace that are pushing providers to form integrated delivery
systems. Prior to the mid-morning break, the changing dynamics of the
"brave new world" are examined. The second half of the program deals
with the financial underpinnings of managed care: how premium dollars
are used and the potential winners and losers.
Objectives:
- Discuss the forces in the healthcare marketplace that are
changing the way care is provided,
- Describe the formation and growth of integrated health
systems,
- Identify the characteristics of health care delivery in the
future,
- Explain the principal concepts involved with managed care,
case management and capitation,
- Describe payor financial arrangements and
- Discusswhat the future may hold
- Audience:
Middle managers and healthcare
professionals
- Length:
1 day
- Faculty:
Bill Ward
- RETURN TO PROGRAM
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Understanding
Managed Care...
Achieving Success as a
Manager
Driven by changes in the marketplace, healthcare is changing the
way care is organized and delivered in dramatic ways. To succeed in
this challenging and rapidly changing environment, managers must
possess a sound understanding of the principles of managed care. This
one-day program will provide managers with a thorough understanding
of how managed care works and the short- and long-term effects it is
likely to have on their institutions, their staffs and
themselves.
Objectives:
- Define the common terms used in managed care;
- Identify different forms of managed care and various managed
care financial structures;
- Describe national, regional and local trends in managed
care;
- Discuss the implications for the way care is provided and
reimbursed;
- Describe the concept of utilization management and its
importance in delivering the highest quality of care at the lowest
possible cost;
- Describe the essential interdependence and interrelationships
of clinical and administrative departments;
- Describe the likely impact managed care will have on provider
organizations, individuals and managers, and the need to change in
order to survive a restructured healthcare delivery system;
- Explain how to achieve improvements in productivity and work
processes;
- Show how to set effective work standards; and
- Analyze performance and develop action plans in order to
manage scarce resources more effectively
- Audience:
Middle managers
- Length:
1 day
- Faculty:
Bill Ward
- RETURN TO PROGRAM
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Reading
and Understanding Financial Performance Reports
Participants will gain an understanding of
the basic corporate financial statements and the internal
financial management reports of healthcare institutions. The three
principal financial statements will be explored in depth, as will the
annual audit report and the use of ratio analysis to determine
financial condition. Participants will learn how to convert internal
financial performance reports from page after page of numbers to
meaningful information.
Objectives:
- Describe how transactions are recorded,
- Identify the information conveyed in the balance sheet, profit
and loss statement (p&l) and statement of changes in financial
condition,
- Discuss the annual audit report,
- Discuss internal financial management reports, and
- Demonstrate how to calculate a variety of financial ratios for
comparison to industry norms to aid in determining financial
condition.
- Audience:
Middle managers
- Faculty:
Bill Ward
- RETURN TO PROGRAM
LIST
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How
to Read Corporate Financial Statements
This half-day program provides a concentrated approach to
understanding the basic corporate financial statements of healthcare
institutions. Participants will gain a working knowledge of the three
principal financial statements, the audit report and financial ratio
analysis.
Objectives:
- Discuss the information conveyed in the principal corporate
financial statements - the balance sheet, the statement of
revenues and expenses and the statement of changes in financial
condition, and the statement of cash flows
- Demonstrate how to read and understand an audit report,
and
- Calculate a variety of financial ratios for comparison to
industry norms to aid in determining financial condition.
- Audience:
Middle managers
- Length:
.5 day
- Faculty:
Bill Ward
- RETURN TO PROGRAM
LIST
-
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Managed
Care Readiness Workshop
This program combines lectures, small group discussions and
plenary sessions to assist an organization's managers to:
- Discuss managed care and the implications of a changing
reimbursement environment,
- Identify opportunities and threats posed by managed care,
- Develop a common vision of how best to respond to managed care
from a personal, professional and organizational perspective,
- Describe responses associated with a changing reimbursement
environment, and
- Develop a sense of purpose and confidence in one's ability to
deal effectively with a changing environment.
The program can be conducted in one day with morning and afternoon
sessions or as a split evening-morning program.
Schedule
First Session
- Introduction to Managed Care (slide presentation)
- Threats and Opportunities (flip chart session)
- Responding to Managed Care (table discussions & flip
chart)
- - organizationally
- - professionally
- - personally
Second Session
- Breakout Session - The Emotions of Change (small group
discussions)
- Plenary Session - The Emotions of Change (reaching
consensus)
- Plenary Session - Yes, We Can Succeed! (flip chart
session)
- Audience:
Department managers and
healthcare professionals
- Length:
1 day
- Faculty:
Bill Ward
- RETURN TO PROGRAM
LIST
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