CALC Goals & Objectives

Finance

In this curriculum, we will explore how business plans are analyzed. Using a “real-life” academic department business we will illustrate how the concepts of modern finance are applied in health care systems.

Vocabulary

• Time Value of Money (TVM)
• Weighted Average Cost of Capital (WACC)
• Internal Rate of Return (IRR) 
• Modified Internal Rate of Return (MIRR)
• Net Present Value (NPV)
• Cash Flow
• Return on Investment (ROI)

 Objectives:

• Learn finance language
• Use the concepts described in a group example
• Understand how  a winning business plan and pro forma move from concept to reality

Accounting

Balance sheets are information sources of corporations and not-for-profit institutions. Knowing how to read these documents will be a skill gained by the audience. The course will begin with a known SEC-registered, publicly offered corporation. The class will then move on to how a not-for-profit institution reports its financial status. Using our proposed business plan we will demystify balance sheets.

Vocabulary

• cash return on assets
• profit margin
• average collection period
• debt
• working capital
• acid-test 

We will use information from the SEC, Yahoo finance and Guidestar for our analyses. Familiarity with these resources and how they can be used will be appreciated by the learner.

Objectives:

• Learn spreadsheet analysis
• Design a balance sheet
• Understand and implement basic financial ratios in a real-world example
• Master the ability to obtain data regarding your home institution

Marketing

In healthcare, we are fortunate to already know our collective goals. How to reach that partner in finance or administration is sometimes challenging. In this session, the learner will be educated on how to reach an audience and communicate a plan.

Objectives:

• Establish a value hierarchy
• Develop tools for how to propagate an idea
• Build a value strategy
• Engage with a group of colleagues and learn how to code their thoughts on a proposal

Decision Making

Understanding how a choice is made in a situation of uncertainty is a role of leadership. In this session, we will explore how to gauge our personal comfort with risk. We will learn how to compose a decision using tools designed to discriminate between competitive and collaborative resolutions.

Objectives:

• Understand how to diagram a decision
• Generate a personal risk tolerance strategy
• Compose a plan for approaching both competitive and collaborative decisions
• Recognize when a decision is no longer a choice

Change Management

The steps of effective change will be outlined and then utilized by learners by undergoing a change management simulation. Role-playing will be an asset to the learner as we endeavor to create a situation in which success is not guaranteed.

Objectives:

• Recognize the need for managing change
• Define the effort required for managing alterations of varying scope
• Develop a framework, including a timeline, for implementing transformation
• Acquire an appreciation for the challenges involved in managing change
• Obtain tools for overcoming obstacles