Managing Revenue and Expense in Today's Medical Practice

Managing Expense and Revenue in Today's Medical Practice

Release Date: 05/14/18
Expiration Date: 05/14/21
Format: Internet Activity Enduring Material

Statement of Need/Program Overview

Cash flow is a good indicator of overall health of a medical practice. With trends of decreasing reimbursements and high deductible plans, practices must manage their cash flow effectively. The purpose of this educational activity is to inform providers about revenue and expense management and how planning strategically for these expenses can impact overall profitability.

Target Audience

The target audience for this activity is Medical Mutual's provider physician group and related healthcare professionals.

Educational Objectives

After completing this activity, the participant should be better able to:

  1. Define revenues and expenses within a practice, inclusive of how shifts in each affect a practice
  2. Explain the impact organizational factors have on profitability
  3. Explain the primary sources of revenue impact
  4. Cite 2 to 3 new strategies to consider for increased practice profitability

Accreditation Statement

Medical Mutual is accredited by the Accreditation Council for Continuing Medical Education (ACCME) to provide continuing medical education for physicians.

Credit Designation Statement

Medical Mutual designates this enduring material for a maximum of 1 AMA PRA Category 1 Credit™. Physicians should claim only the credit commensurate with the extent of their participation in the activity.

For information about the accreditation of this program please contact the CME Team at 800.662.7917 or at .

Instructions to Receive CME Credit

In order to successfully complete the activity, participants must score 70% on the post test at the end of the activity and complete the course evaluations. Each participant has a maximum of three attempts to score a 70%. Successful completion is supported by a 70% pass rate at the end of the course, proving competency on the content of the activity.

Faculty and Disclosures

Medical Mutual requires instructors, planners, managers and other individuals and their spouse/life partner who are in a position to control the content of this activity to disclose any real or apparent conflict of interest they may have as related to the content of this activity.

All identified conflicts of interest are thoroughly vetted by Medical Mutual for fair balance, scientific objectivity of studies mentioned in the materials or used as the basis for content, and appropriateness of patient care recommendations.

The following reported no relevant financial relationships or relationships to products or devices that they or their spouse/life partner have with commercial support interests related to the content of this CME activity.

  • Cameron Cox III, MHA, FACMPE (Faculty)
  • Donna Nicholson, Vice President of Risk Management, Medical Mutual (Reviewer)
  • Tamara Johnson, Director of Clinical Risk Management and Patient Safety, Medical Mutual (Planner)
  • Sharon Nichols, Senior Risk Consultant, Medical Mutual (Planner)
  • Lauren Hauser, Education Program Specialist, Medical Mutual (Planner)
  • Whitley Paige, Risk Management Coordinator, Medical Mutual (Planner)

Disclaimer

Participants have an implied responsibility to use the newly acquired information to enhance patient outcomes and their own professional development. The information presented in this activity is not meant to serve as a guideline for patient management.

Not a guarantee that using information provided will prevent a claim against you or your practice.

Technical Requirements

This activity is best experienced using the most current browser (or one back) of Firefox, Chrome, Safari, Internet Explorer, or Microsoft Edge. For all activities featuring audio you must have a sound card and speakers. To view graphic images and references that appear in separate "pop-up" windows, you must have JavaScript and session cookies enabled on your computer. Adobe Acrobat Reader may be required for certain activities.

Select the Continue button below to begin. You may return later if you are unable to complete the activity at this time.