Summary

To adequately confront the challenges facing them in the modern healthcare system, physicians need to blend management and business knowledge with their clinical knowledge and expertise in patient care. Business decisions are often made by non-physicians. In order to develop compelling business plans for that audience, physicians need to speak the business language of administrators and present plans from a business point of view. Ideas and projects that are only presented from the physician point of view may be passed over and not be approved by the C-suite. It’s key to incorporate basic business language, detailed presentation, and in-depth analysis. In many cases a reformatting, reworking, and subsequent presentation of proposals can lead to acceptance of the projects. The goal of this session is to introduce the listener to the business side of medicine, explain some important business concepts and go through a business plan generation including different parts and financial analysis.

Accreditation Statement

The Society of Hospital Medicine is accredited by the Accreditation Council for Continuing Medical Education (ACCME) to provide continuing medical education for physicians.

Credit Statement Designator

The Society of Hospital Medicine designates this activity for a maximum of 1 AMA PRA Category 1 Credit(s)^TM. Physicians should claim only credit commensurate with the extent of their participation in the activity.

Estimated Time to Complete Activity: 1 hour