| Radiology applications of financial accounting. | |
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MedLine Citation:
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PMID: 17411807 Owner: NLM Status: MEDLINE |
Abstract/OtherAbstract:
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A basic knowledge of financial accounting can help radiologists analyze business opportunities and examine the potential impacts of new technology or predict the adverse consequences of new competitors entering their service area. The income statement, balance sheet, and cash flow statement are the three basic financial statements that document the current financial position of the radiology practice and allow managers to monitor the ongoing financial operations of the enterprise. Pro forma, or hypothetical, financial statements can be generated to predict the financial impact of specific business decisions or investments on the profitability of the practice. Sensitivity analysis, or what-if scenarios, can be performed to determine the potential impact of changing key revenue, investment, operating cost or financial assumptions. By viewing radiology as both a profession and a business, radiologists can optimize their use of scarce economic resources and maximize the return on their financial investments. |
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Authors:
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Mark H Leibenhaut |
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Publication Detail:
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Type: Journal Article |
Journal Detail:
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Title: Journal of the American College of Radiology : JACR Volume: 2 ISSN: 1558-349X ISO Abbreviation: J Am Coll Radiol Publication Date: 2005 Mar |
Date Detail:
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Created Date: 2007-04-06 Completed Date: 2007-09-14 Revised Date: - |
Medline Journal Info:
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Nlm Unique ID: 101190326 Medline TA: J Am Coll Radiol Country: United States |
Other Details:
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Languages: eng Pagination: 241-53 Citation Subset: IM |
Affiliation:
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Radiological Associates of Sacramento, Sacramento, California 95816, USA. raleibenhaut@radiological.com |
Export Citation:
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| MeSH Terms | |
Descriptor/Qualifier:
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Accounting
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methods* Costs and Cost Analysis Depreciation Humans Income Magnetic Resonance Angiography / economics Magnetic Resonance Imaging / economics Radiology / economics*, organization & administration Taxes Technology / trends United States |
From MEDLINE®/PubMed®, a database of the U.S. National Library of Medicine
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