Precourse 07 - Show Me the Money: Financial Basics for Hand Surgeons

Wednesday, September 5

12:30 – 4:30 PM

Location: Columbus AB, Hyatt Regency Convention Center

Co-Chairs: Anne J. Miller, MD and Thomas Fischer, MD

Fees

Members – $195
Nonmembers – $225
Senior Members - $145
Residents & Fellows – $75
Allied Health – $125

CME: The ASSH designates this live educational activity for a maximum of 4.00 AMA PRA Category 1 Credits^TM. Physicians should claim only the credit commensurate with the extent of their participation in the activity.

Audience Level: Intermediate

Description

Although the majority of physicians will also be small business owners, the basics of accounting are not taught in medical school. As surgeons we can quote medical literature, find our way around complex anatomy, and operate for hours under the microscope, but evaluating a simple spreadsheet can leave many of our members dazed and confused. Although we should all hire professionals to help with finances, the prudent hand surgeon should have the ability to independently evaluate his or her own financial health.

Learning Objectives

Evaluate current and expected cash flow.
Anticipate and avoid common mistakes that can lead to practice disruption or lost income.

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Faculty

Cheyenne Brinson

Jeffrey B. Husband, MD

Naya Kehayes, MPH

Gregory A. Merrell, MD

Robert D. Otten

Jason Shirk

Warren C. White, Jr. FACMPE

View financial disclosure information here.

Program

12:30	Welcome	Anne J. Miller, MD & Thomas J. Fischer, MD
	I. Basic Accounting
12:35	Definitions, Setting a Budget and Understanding the P&L Statement	Gregory A. Merrell, MD
	II. Applied Economics
1:00	Staffing Issues-Strategies: Staffing Ratios, Pros and Cons of Outsourcing	Cheyenne Brinson
1:20	Staffing Issues-Expenses, Salaries/Benefits	Jason Shirk
1:40	Insurance Contracting: Pitfalls, When to Leave a Contract, Medicare, to Par or Not to Par	Naya Kehayes, MPH
2:10	Supergroups and ACO’s: Is There Profitability in Larger Scale?	Jeffrey B. Husband, MD
2:30	Evaluating Performance, Dashboard as Tool for Evaluation of Expenses and Profitability	Warren C. White Jr. FACMPE
	III. Equitable Division of Profits: Direct and Ancillary Income, Pros and Cons of Salaried Position
3:00	Panel Discussion	Cheyenne Brinson, Warren C. White, Jr. FACMPE and Gregory A. Merrell, MD
	IV. Government Regulation
3:45	The Paperless Office-Expenses and Meaningful Use	Robert D. Otten
	Effects of the Health Care Act, SGR and ICD-10	Robert D. Otten