203. Financial Land Mines Caused by Clinical Operations is proudly presented to you by National Association for Home Care & Hospice. Thank you. We hope that you enjoy your course.
Description:
Clinical leaders require financial acumen. Whether the leader’s role is administration or clinical, the need for financial education and understanding has become an inescapable reality. Historically, most decisions within health care organizations have been based on clinical and patient outcomes, but today’s decisions are being scrutinized for their economic impact as we turn the corner on Value-Based Purchasing. Providers are constantly faced with the dilemma of providing more and better care at a cheaper cost. Most Clinical leaders work their way up through the ranks without ever gaining the financial education they need to best serve in their roles. Most health care professionals go into the business to care for patients and then end up working themselves up the leadership pipeline. There is an increasing need for financially-informed decision-makers at every level. Clinical leaders are under tremendous pressure to grow net revenues, manage expenses, and re-deploy assets for a strong return, all while ensuring that employee morale stays high and is reflected in a low employee turnover rate. Is this possible? Though most clinical leaders understand the importance of improving financial performance, few understand how they directly impact the financial condition of the agency through their everyday decisions. This session is designed to help clinical leaders learn how their daily decisions, such as staffing needs, productivity, inventory management, etc., are linked to changes in cash flow and the balance sheet, and how they had a direct impact on the income statement.
Learning Objectives:
Explain the financial impact of everyday clinical decisions
Identify how clinical staffing and productivity affect the bottom line
Faculty:
Diana Dee Kornetti, PT, MA, HCS-D, HCS-C
Robert Markette, JD
Sharon Harder, HCS-C