Decoding Healthcare Finances: Understanding Costs and Indirect Allocation Strategies – Cost of Care Part 2
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Decoding Healthcare Finances: Understanding Costs and Indirect Allocation Strategies – Cost of Care Part 2
Wednesday March 13 @ 12:30 pm - 1:30 pm
Description: With the District of Columbia’s movement to a reimbursement system with services defined and paid through a procedure code, healthcare leadership must understand the costs that are directly provided and those that indirectly support the service. Methodologies used to allocate indirect costs will be identified, examined, and critiqued. This learning session will provide more underlying detail to the concepts put forth in the Determination of Cost for Provider Services and its Use in Managing the Business, presented on November 30, 2023 (Watch the session here). This session will provide key decision-makers, financial analysts, and practice management staff with an understanding of the expenses encompassed within each cost component. The session will also provide education and a tool pertaining to the allocation of indirect costs and the significance of that allocation method given certain business situations.
Speakers: Chuck Weis, MBA, CPA Principal, Health Management Associates & Suzanne Daub, LCSW Principal, Health Management Associates
Learning Objectives:
- Explain expenses within Direct and Indirect Costs.
- Illustrate the different Indirect Cost allocation methodologies and how the choice of a methodology should be considered based on the specific business circumstance.
- Describe how to measure staff productivity considering both billable and non-billable activities.
Content Level: Foundational
Target Audience: Administrators
Course Interaction & System Requirements: This live webinar is fully interactive. Attendees may ask and answer questions throughout the presentation and participate in instructor-led discussions.
Course Completion & CE Requirements:
Health Management Associates, #1780, is approved to offer social work continuing education by the Association of Social Work Boards (ASWB) Approved Continuing Education (ACE) program. Organizations, not individual courses, are approved as ACE providers. State and provincial regulatory boards have the final authority to determine whether an individual course may be accepted for continuing education credit. Health Management Associates maintains responsibility for this course. ACE provider approval period: 09/22/2021 – 09/22/2025. Social workers completing this course receive 1.0 continuing education credit.
To earn CE credit, social workers must log in at the scheduled time, attend the entire course, and complete an online course evaluation. To verify your attendance, please be sure to log in from an individual account and link your participant ID to your audio.
CME Credits:
The AAFP has reviewed the Integrated Care DC webinar series and deemed it acceptable for AAFP credit. Physicians should claim only the credit commensurate with the extent of their participation in the activity. This session is approved for 1.0 Online Only, Live AAFP Prescribed credits.
Certificates of completion will be emailed within 10-12 business days of course completion.
System Requirements:
- Operating Systems: Windows XP or higher, MacOS 9 or higher, Android 4.0 or higher
- Internet Browser: Internet Explorer 9.0 or higher, Google Chrome, Firefox 10.0 or higher
- Broadband Internet connection: Cable, high-speed DSL & any other medium that is internet accessible