In the rapidly evolving healthcare landscape, effective communication of financial information to physicians is crucial for the sustainability and growth of medical practices. This session is designed for Practice Managers, Practice Administrators, and CFOs who face the challenge of bridging the gap between complex financial data and the practical understanding level of physicians, who typically have received little or no business training in their medical education. It addresses the critical need for financial fluency among physicians, a skill often overlooked in medical education, where the focus remains predominantly on clinical training with minimal emphasis on business or finance. Join the speaker as she delves into tailored communication strategies that demystify financial concepts, translating them into a language that resonates with physicians. It highlights the importance of contextualizing financial data within the scope of patient care and practice efficiency, fostering a more collaborative environment in healthcare management.
Learning Objectives:
Discover medical schools' lack of financial training and its impact on physician engagement and understanding in practice management
Outline a strategy for creating a "safe space" for your physicians to ask financial questions, respecting their intelligence and education, AND recognizing that many don't understand basic financial concepts
Present financial information to physicians in an accessible, relevant manner emphasizing the connection between financial health and patient care outcomes
