Milestone 20: Practice shares financial data in a transparent manner within the practice and has developed the business capabilities to use business practices and tools to analyze and document the value the organization brings to various types of alternative payment models.

Goal: Practice shares financial data in a transparent manner within the practice and has developed the business capabilities to use business practices and tools to analyze and document the value the organization brings to various types of alternative payment models.

Strategies

  • Conduct business fundamentals training as a lunch and learn session
  • Make sure budget preparation occurs at the level the costs are incurred
  • Share financial implications of care decisions
  • Share prices charged for various services
  • Dedicate a meeting to explaining the practice’s financial statements

Resources