Cambridge
Academy
In London
Course Description
Dates: 23-26th of October 2023
Location: London, UK
Cost: £5000, 2x £4500, 3x £4000
Including: Pick up and return back to the airport, meeting rooms, training & workshops and material booklet.
To enquire: Email: enjy@caclo.co.uk Tel: 00447706008878
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Introduction:
Healthcare professionals in various roles within hospitals, clinics, and community health officials face the challenges of modern healthcare institutions. They contribute positively to their financial and operational success.
Modern healthcare institutions are complex in terms of the various treatments and diverse operational and strategic financial models they employ. In all these models, cost management, efficiency, and financial sustainability are of paramount importance, whether operating within limited budgets or striving for profitability.
To effectively manage these objectives and achieve them, healthcare professionals in all specialties need practical knowledge of accounting and financial management systems within their institutions.
This leading training course will provide you with essential skills to understand financial reports and actively participate in managing your institution, drawing upon British expertise.
This interactive meeting is distinguished by its engagement with consultants and professionals in the fields of accounting, finance, and insurance in major British hospitals.
Objectives:
The study of the British experience will be conducted through interactive sessions, workshops, and discussions with specialists and consultants in British healthcare institutions. A comparison will be made between the British experience and the experience currently implemented.
Target Audience:
The target audience is broad and diverse, but it will be particularly beneficial for:
• Healthcare budget preparation team members.
• Healthcare planning specialists.
• Financial and managerial accounting team members.
• Individuals responsible for clinical and surgical budgeting.
• Hospital administration managers.
Conference outline:
Day 1:
Welcome Speech: 9.30am – 10.00am
Morning Session: 10.00am – 12.30pm
• Insurance/ RCM
- Overview of insurance and revenue cycle management in healthcare organisations.
- Understanding the role of insurance in healthcare financing.
- Revenue cycle processes, including patient registration, coding, billing, and reimbursement.
• Budgeting process and control
- Introduction to the budgeting process in healthcare organisations.
- Key components of budget development, including revenue forecasting and expense allocation.
- Budget control measures, monitoring, and variance analysis.
Lunch Break: 12.30pm – 13.30pm
Afternoon Session: 13.30pm – 16.00pm
• Finance ERP Systems (Oracle):
- Understanding Enterprise Resource Planning (ERP) systems, specifically focusing on Oracle.
- Overview of financial modules in Oracle ERP and their functionalities.
- Utilising Oracle ERP for financial management, reporting, and analysis in healthcare organisations.
• Process for Month End-Closure (Accrual/Prepayment):
- Importance of month-end closure in financial accounting.
- Accrual accounting principles and their application in month-end closure.
- Prepayment accounting and its impact on financial statements.
• Reconciliation between Cash and Accruals Budgeting:
- Understanding the differences between cash and accrual accounting methods.
- Reconciling cash-based budgeting with accrual-based financial statements.
- Importance of aligning cash and accruals for financial decision-making.
Day 2:
Morning Session: 9.30am – 12.30pm
• Cash/Treasury Management:
- Fundamentals of cash management in healthcare organisations.
- Cash flow forecasting and liquidity management.
- Techniques for optimising cash utilisation and managing cash inflows and outflows.
• PR/PO/Control and Procurement Cycle:
- Procure-to-Pay (PR/PO) cycle and its importance in controlling procurement activities.
- Overview of the procurement cycle, including purchase requisition (PR) and purchase order (PO) processes
- Internal controls and procedures for effective procurement management.
- Understanding the procurement cycle, including requisition, purchase order, receiving, and payment.
Lunch Break: 12.30pm – 13.30pm
Afternoon Session: 13.30pm – 16.00pm
• Salary Payment and Compensation Principles:
- Methods of salary payment in healthcare organisations.
- Principles and regulations governing employee compensation for work, programs, and additional activities.
- Compliance with legal requirements and fair compensation practices.
• Chart of Accounts and Cost Centre Classification:
- Introduction to charts of accounts and their role in financial accounting.
- Classifying cost centres and cost accounts for effective cost management.
- Linking cost centres and accounts to budgeting and financial reporting.
Day 3:
Workshop:
Mastering Healthcare Revenue Cycle Management: Strategies for Optimizing Insurance
Reimbursement 9.30am – 16.00pm
Lunch Break: 12.30pm – 13.30pm
Day 4:
Workshop:
Maximizing Efficiency in Healthcare Procurement and Vendor Management.
9.30am – 16.00pm
Lunch Break: 12.30pm – 13.30pm