At the completion of this block, the resident will have developed an understanding of:
- How financial managers view the work of the practicing physician and care delivery systems in general
- The major accounting forms used in health systems to budget, monitor, and understand the financial health of an individual provider, group or system
- Charges, withholds, rebates, payments, adjustments (etc) in fee-for-service payment systems
- The concepts around direct doctor-patient contracting schemes like Direct Primary Care and Concierge medicine
- The basics of Value-Based Purchasing
- How an ACO works and other basics of shared savings and shared risk
- The basics of health care corporate taxation
- Issues around obtaining and servicing capital and capital project analysis
Residents should ideally:
- Meet with the System-level CFO and other leaders across the health system with budgetary oversight.
- Meet with individuals in Financial Planning, the Controller, Director of Materials and Inventory, Patient Accounts
- Attend meetings such as Finance Committee, Operations Planning, etc.
- Meet with a hospital or outpatient office Financial Counselor
- As appropriate, meet with those outside of Beacon doing similar things in their organization
- Meet or talk with individuals in organizations that they foresee themselves working with in their early career
- Discuss this topic with regional or national leaders in this field as they may be available through faculty or resident connections
- Do any assigned directed reading
