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Conference
SEAK Business School For Physicians

Schedule
Sea Crest Oceanfront Resort 
Falmouth, Massachusetts

Faculty
August 14-15, 2003

Registration Info
 

Registration Form 
 

 PDF version of entire brochure
PDF of Registration Form
Executive Summary

SEAK, Inc. is now conducting SEAK Business School For Physicians. This two-day seminar is
designed to impart to the physician attendee the most essential principles and techniques 
taught in a standard two-year MBA program. Unlike a two-year program, however, our program
is specially tailored for physicians. You will have an opportunity to immediately apply the 
techniques learned. The course concludes with the class breaking into groups and developing 
a strategic plan for a sample medical practice. Adult learning principles will be utilized and the
course will feature numerous interactive exercises and problems. Substantial time will be 
dedicated to group discussions and questions and answers.


Learning Objectives

At the completion of this seminar you will be able to:

  • Understand balance sheets, income statements, and cash flow statements.

  • Explain key financial accounting terms.
  • Understand how to increase earnings and value of a practice through financial leverage.
  • Discuss ways to maximize earnings.
  • Explain how operational leverage can dramatically increase profits.
  • Understand the relationship between different types of risk (relevant, diversifiable, non-diversifiable) and the value of an investment.
  • Compute retained earnings, return on investment, current ratio, net worth, and leverage ratios for a medical practice.
  • Explain how spreadsheets can be used to forecast future revenues and expenses and facilitate ratio analysis.
  • Explain key financial terms such as beta, hurdle rates, weighted marginal cost of capital (WMCC) and the capital asset pricing model (CAPM)
  • Explain time value of money concepts including net present value analysis, internal rates of return and terminal cash flow.
  • Understand how time value of money techniques can help determine which assets the practice should invest in to maximize the value.
  • Understand the role of leaders and managers in enhancing performance.
  • Discuss how to run a successful practice in today's managed care environment.
  • Explain how to recruit, motivate and retain a committed workforce.
  • Understand how to proactively manage performance.
  • List the four "P"s of a successful marketing effort.
  • Develop a strategic business plan for a sample medical practice.
Faculty:

James W. Fairfield-Sonn, Ph.D is professor of management at the University of Hartford where he teaches courses for the Executive MBA Health-Care Professionals Program. He received his Ph.D in organizational behavior from Yale University. Jim has significant experience working within and consulting for hospitals, HMOs, non-profit healthcare providers, and public healthcare agencies.

Barbara Lamberton, Ph.D. is an Assistant Professor at the University of Hartford where she teaches courses for the Executive MBA Health-Care Professionals Program. She received her Ph.D. in accounting from Michigan State University. She is a certified public accountant, has done extensive research on the health-care industry and has substantial experience in the health-care industry.

What do past attendees have to say about SEAK Business School For Physicians?

"First rate, fast moving, nice combination of lecture and class participation-warm personal style of professors"

"Very helpful info to stay competitive"

"Excellent, well taught"

"A lot of new info presented in an organized, logical fashion"

"Very good survey of the business world pertaining to healthcare."

"Clear explanation of concepts and practice examples based on personal experience."

"It was good to get the accounting background first, then look at the big picture."

"Excellent, clear, understandable answers to questions"

"Very motivating presenters, good delivery style-easy to understand."

Registration Information: The $695 tuition includes a valuable seminar reference manual, 
continental breakfast and lunch each day with faculty, coffee breaks, and a dynamic learning experience.
 

Thursday, August 14, 2003
7:30-8:00 Registration & Continental Breakfast
8:00-10:00 Financial Accounting

A discussion of the most important elements of financial accounting. Included is a detailed discussion of the balance sheet, the income statement, cash flows, the efficient market, and ratio analysis. A detailed explanation of key financial accounting terms and concepts will be provided including accruals, retained earnings, current ratio, net worth, leverage ratios, earnings per share, the DuPont Principle, opportunity cost, discounted cash flow analysis, and return on investment. The tax advantages of the Modified Accelerated Cost Recovery System (MACRS) are explained.
10:00-10:15 Break and Networking Opportunity
10:15-12:00 Applications-Understanding and Forecasting Performance:

Physicians will learn how spreadsheets and statistical techniques can be used to understand and forecast performance.  Examples will be provided to demonstrate how to compute and interpret key financial metrics related to enterprise profitability and debt paying ability.  Spreadsheet examples will be provided to demonstrate how statistical techniques, such as least squares regression, can be used to forecast future revenues and expenses.
12:00-12:45 Lunch with faculty (provided)
12:45-2:15 Risk and Leverage

Physicians will learn how to calculate the risk (relevant, diversifiable, and nondiversifiable) and value of an investment through statistical analysis. The concept of beta is explained. An analysis of financial leverage is undertaken to show how earnings and value can be increased through the appropriate use of fixed-cost financing (i.e. debt). An explanation of how to calculate the optimum amount of debt that will maximize the value of a practice is provided. Also provided is a detailed explanation of the capital asset pricing model (CAPM) and the significance of the positive or negative correlation of risk of two or more investments.
2:15-4:00 Investment to Maximize Value

Physicians will learn how to determine in which assets a business should invest in order to maximize the value of the enterprise and how to determine the ideal amount of fixed-cost financing for a business.  Explained and demonstrated are:  hurdle rates, the weighted marginal cost of capital (WMCC), net present value analysis, internal rates of return and terminal cash flow.  Physicians will learn how the value of business investments can be analyzed and projected.

Friday, August 15, 2003

6:30-7:00 Continental Breakfast
7:00-9:00 Leading and Managing for Enhanced Performance

Physicians will learn the differences between leadership and management.  They will also examine the key functions that leaders and managers must perform to enhance individual, group, and organizational performance.  Emphasis is placed on understanding the critical role vision, culture, and management systems play in performance enhancement.
9:00-9:15 Break and Networking Opportunity
9:15-10:00 Insurance and Managed Care

Physicians will learn how managed care health insurance companies are operated. Ideas for maximizing earnings under the constraints of managed care will be presented and frankly discussed.

10:00-12:00 Human Resources Management

Physicians will learn how to recruit, motivate and retain a committed team and manage that team to work effectively together. The concepts of process inclusion and structure are explained. The importance of the annual review is also explained as is when and how to terminate an employee.
12:00-1:00 Provided Lunch (With Faculty)
1:00-2:00 Marketing

Physicians will learn the importance of market research and the four "P's" of a successful marketing effort (product, place, price, promotion). Physicians will also learn how to market and promote a medical practice in today's managed care environment and how to market that practice to the referring physician. Successful marketing strategies will be elicited from the group and frankly discussed.
2:00-3:15 Case Study

This detailed case study serves as a vehicle to apply the concepts learned in the previous two days. Physicians will break into groups and develop advanced management solutions to the challenges facing a hypothetical company, Weatherbridge Medical Facilities, Inc. These challenges include financing expansion of the business, staffing, broadening or narrowing of services provided, marketing, and the possibility of merger or sale.
SEAK in Falmouth -- August 2003

Registration
Information 

 CME  Registration Form August 2003 Home PDF of entire brochure PDF of registration form
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