Advanced Economics Principles for Radiology Professionals
Advanced Economics Principles for Radiology Professionals • May 7, 2014 • Frank J. Lexa, MD, MBA • Online
This session will cover two advanced concepts in economics for radiologists and other imaging professionals. We will discuss how managerial accounting principles can be used to analyze how an imaging service works (or doesn’t work) and how that can be applied to understand how changes in what you do affect the costs and the profitability of your department or service. We will also discuss several ideas that are at the core of operations management and how they can be used to improve service, quality and effectiveness in an imaging practice.
- Understand the basic concepts used in managerial accounting and financial analysis including fixed and variable costs, marginal revenues, direct and indirect costs, etc.
- Apply these analytic tools to understand how changing your department would affect costs and profitability.
- Understand how operations management can be used to re-design imaging services for significant improvements.
This Level 3 mandatory course will cover competency 1.1.2 in the Finance and Economics domain of the RLI Common Body of Knowledge and award 1 RLI credit.