| Presenting practice financial information. | |
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MedLine Citation:
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PMID: 17974087 Owner: NLM Status: MEDLINE |
Abstract/OtherAbstract:
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Medical practice leadership teams, often consisting primarily of physicians with limited financial backgrounds, must make important business decisions and continuously monitor practice operations. In order to competently perform this duty, they need financial reports that are relevant and easy to understand. This article explores financial reporting and decision-making in a physician practice. It discusses reports and tools, such as ratios, graphs, and comparisons, that practices typically include in their reports. Because profitability and cash flow are often the most important financial considerations for physician practices, reports should generally focus on the impact of various activities and potential decisions upon these concerns. This article also provides communication tips for both those presenting practice financial information and those making the decisions. By communicating effectively, these leaders can best use financial information to improve decision-making and maximize financial performance. |
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Authors:
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Lee Ann H Webster |
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Publication Detail:
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Type: Journal Article |
Journal Detail:
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Title: The Journal of medical practice management : MPM Volume: 23 ISSN: 8755-0229 ISO Abbreviation: J Med Pract Manage Publication Date: 2007 Sep-Oct |
Date Detail:
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Created Date: 2007-11-02 Completed Date: 2007-11-28 Revised Date: - |
Medline Journal Info:
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Nlm Unique ID: 8605494 Medline TA: J Med Pract Manage Country: United States |
Other Details:
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Languages: eng Pagination: 97-103 Citation Subset: T |
Affiliation:
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Pathology Associates of Alabama, PC., 402 Office Park Drive, Suite 200, Birmingham, AL 35223, USA. leeann@pathassoc.com |
Export Citation:
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| MeSH Terms | |
Descriptor/Qualifier:
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Accounting Decision Making, Organizational* Financial Audit* Group Processes* Humans Investments Leadership Practice Management, Medical / economics* |
From MEDLINE®/PubMed®, a database of the U.S. National Library of Medicine
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