Format your document with one-inch margins and 12-point Times New Roman font.
One page, double-spaced for each part.
Instructions: Part 1
1. Read the following scenario:
A group of 10 general surgeons have decided to form a group practice, George Mason Surgical Associates. They have left other practices to form this new group.
You have been hired as the practice administrator, and are attending the first organizational meeting with the ten doctors.
The doctors have expressed frustration with financial reporting at their other practices, and want to you develop a monthly financial package and presentation.
2. Write and answer the following questions:
What financial reports (excluding the Executive Summary) will you present to them on a monthly basis?
Explain why you chose these? Why are they important to this practice?
What is the relationship among the financial statements? What key elements relate to each other?
Instructions: Part 2 ..Refer Attachment… “Clearer Picture”
1. Review the following articles:
Getting a Clearer Picture of Your Practice’s Finances https://mymasonportal.gmu.edu/bbcswebdav/pid-12121933-dt-content-rid-188365204_1/xid-188365204_1
Monitoring the Right Reports Monitoring the Right Reports https://mymasonportal.gmu.edu/bbcswebdav/pid-12121933-dt-content-rid-186777439_1/xid-186777439_1
2. Write and answer the following question:
In your opinion explain the three top /most important ratios in running a medical practice and why you think they are important.
Instructions: Part 3 |
1. Review the following reading:
Reduce Medical Practice Embezzlement Risk by Implementing Cash Controls https://www.physicianspractice.com/embezzlement/reduce-medical-practice-embezzlement-risk-implementing-cash-controls
2. Llist and describe three internal financial controls which should be implemented by a medical practice to control embezzlement, theft, and fraud..