How to read a financial statement

Article Abstract:

Physicians must learn how to evaluate the business status of possible contract or joint-venture partners to avoid financial mistakes. This is done through analysis of the entity's financial statement, which consists typically of a balance sheet and an income statement. A balance sheets lists all assets and all liabilities and provides an overview of what the entity owns and its debts at a given moment, while an income statement lists all revenues and expenses and shows how its funds were earned and spent over the same period of time. A detailed analysis of a sample healthcare company's financial statement is provided.

Finance, Financial statements

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Member service: profiles of management service and physician management companies

Article Abstract:

State medical societies are responding to changes in medical practices by establishing management services and helping medical professionals contract with physician management companies. Setting up management service organizations provides state societies with the flexibility to support local efforts and requires less capital than starting an insurance company or health maintenance organization. The Texas Medical Association is servicing its members through contracts with InPhyNet Medical Management Inc. and Strategic Medical Systems Inc.

Other Management Consulting Services, Management services, Medical Coordination Services, Medical economics, Contracts, Medical corporations, Management contracts, Physician practice management firms

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Flexibility boosts group's survival: Illinois' Dreyer Clinic sells assets to health system to gain management and financial support

Article Abstract:

The Dreyer Medical Clinic in Aurora, IL, has sold its assets to Advocate Health System and refocused its efforts on medical care. The clinic had been providing numerous ancillary services and had run its own HMO since 1982, but it ws not growing as fast as its management thought was necessary. The area is a competitive environment for health care services, so Dreyer sold its ancillary services and received the management expertise of Advocate and enough capital to stay competitive.

Management, Group medical practice, Advocate Health System

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