Medical Practice Finance Made Simple
Certification for Healthcare Providers
$149
Gain the skills to interpret financial data, establish appropriate service pricing, manage expenses, and develop a financially sustainable healthcare practice.
This course is designed for nurse practitioners, physicians, and healthcare practice owners seeking accessible financial training without requiring prior accounting experience.
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1.5
CEU
Lifetime
Access
John Mohr, CPA
Instructor
Make the Business Side of Your Practice Easier
While your primary training focused on patient care, understanding financial statements and profit margins is essential. Decisions regarding pricing, staffing, supplies, services, and growth directly influence your practice’s financial health.
This course presents medical practice finance in clear and practical terms. You will identify key financial metrics, locate relevant data, and apply this information to informed business decisions.
No prior accounting background is required. Each lesson relates financial concepts to routine decisions encountered in healthcare practice management.
Stop Guessing About Your Practice Finances
A full appointment schedule does not necessarily indicate a profitable practice. Revenue reflects total income, while profit represents retained earnings after expenses.
Without accurate financial information, practice owners often:
Price services without calculating the full cost
Add services that generate revenue but little profit
Overlook rising supply and labor expenses
Confuse money in the bank with business profitability
Delegate bookkeeping without reviewing the reports
Make hiring or expansion decisions without reliable data
This course provides a structured approach for reviewing financial performance and identifying areas requiring attention.
Add to Cart1.5 CEU
Approved for nursing providers
Self-paced
Learn on your own schedule
100% Online
Access the course from anywhere
Templates & forms
Included with your purchase
Learn From the Clinical Experience of John Mohr, CPA
John Mohr is a Certified Public Accountant who possesses over 30 years of expertise in finance, accounting, taxation, and business management.
Throughout his career, he directed the tax department at Transamerica, overseeing complex financial and tax operations within a leading financial services organization.
In this course, John applies decades of financial experience to deliver practical lessons tailored for healthcare providers. He demonstrates how to interpret financial statements, calculate service costs, establish profitable pricing, manage expenses, and leverage financial data to inform business decisions.
His instructional approach simplifies accounting concepts, making them accessible even to those without prior financial training. Participants will identify key financial metrics and apply them effectively in practice management.
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What You Will Learn
Accounting Fundamentals for Healthcare Providers
Learn the financial terms every practice owner should understand. We explain revenue, expenses, assets, liabilities, equity, cash flow, gross profit, and net profit in language you will use in your business.
Working With Your Bookkeeper and Accountant
Learn what information to provide, which reports to request, and what questions to ask.
While a bookkeeper documents financial transactions and an accountant provides accounting and tax strategy, it remains essential for you to interpret financial data relevant to your practice.
How to Understand a Balance Sheet
Learn what your practice owns, what it owes, and how financially stable the business is. You will understand how cash, equipment, debt, credit cards, loans, and owner equity are represented on the balance sheet.
Cost of Goods Sold
Learn to calculate the direct costs associated with delivering each service, including medication, supplies, laboratory fees, shipping, merchant fees, and other treatment-related expenses.
You will also understand the importance of calculating the cost of goods sold prior to establishing service pricing.
Service-Level Profitability
The service generating the highest revenue may not necessarily be the most profitable.
Learn how to calculate and compare the financial performance of consultations, procedures, memberships, laboratory services, supplements, injections, and other cash-pay offerings.
Cash Flow and Expense Management
Learn to plan for payroll, inventory management, tax obligations, recurring expenses, equipment acquisitions, and periods of reduced revenue.
You will also learn how to separate a cash-flow problem from a profitability problem so you know which issue needs your attention.
How to Read a Profit and Loss Statement
Develop the ability to analyze profit and loss statements to identify revenue sources, expenditure categories, and retained earnings within your practice.
You will learn to distinguish revenue by service, categorize fixed and variable expenses, assess payroll and operating costs, and recognize both gross and net profit as well as unanticipated spending fluctuations.
Profitable Service Pricing
Learn to establish service prices by considering the total cost of care delivery, provider time, overhead expenses, market positioning, and desired profit margins.
This section helps you answer questions such as:
How much does this service cost the practice?
How much profit does each appointment produce?
Are supply costs reducing the margin?
Should the price increase?
Is a package or membership financially sustainable?
Is a discount helping or hurting the practice?
Financial Reports and Key Performance Indicators
Learn which financial reports and practice metrics you should review each month.
Monthly revenue
Gross profit
Net profit
Profit margin
Cost of goods sold
Payroll percentage
Average revenue per patient
Revenue by service
Patient acquisition cost
Accounts receivable
Recurring revenue
I have purchased multiple courses from IMed University. The courses are clear, concise and easy to follow. If you have a follow up question, the authors are very easy to reach. They have provided me with the necessary tools to run safe and knowledgeable practice. I feel very grateful to have used Intellectual Medicine University and would highly recommend their services.
Learn Through Healthcare Practice Examples
This course is tailored to healthcare providers, linking financial concepts directly to common scenarios encountered in clinical practice.
You will work through examples involving:
Pricing a new service
Calculating the cost of a treatment
Reviewing the profitability of a membership
Determining whether a discount makes financial sense
Evaluating staffing expenses
Comparing revenue with profit
Deciding whether to add, change, or discontinue a service
These practical examples facilitate comprehension and application of the material.
What This Course Helps You Do
After completing the course, you will be prepared to:
Read your profit and loss statement
Understand your balance sheet
Calculate cost of goods sold
Determine your profit margin
Set financially sound service prices
Compare the profitability of different services
Track the right financial metrics
Communicate with your bookkeeper and accountant
Recognize financial problems earlier
Make business decisions using accurate numbers
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Practical Financial Tools Included
Your course includes downloadable resources designed for use inside your practice:
Service cost calculator
Cost of goods sold worksheet
Service pricing worksheet
Monthly financial review checklist
Profit and loss review guide
Practice expense tracker
Profit margin calculator
Key performance indicator tracker
Questions to ask your bookkeeper or accountant
New-service financial planning worksheet
These resources streamline financial management and minimize the time required for financial review within your practice.
Medical Practice Finance Made Simple
Program Curriculum
-
Module 1: Business Structures
2 lessons- Objectives, Disclosures and Downloads
- Business Structures Presentation
-
Module 2: Financial Statements
1 lesson- Financial Statements Presentation
-
Module 3: Accounting for Fixed Assets
1 lesson- Fixed Assets Presentation
-
Module 4: Cashflow
1 lesson- Cashflow Presentation
-
Module 5: Taxes
2 lessons- Taxes Presentation
- Financial Success Blueprint Post-test
Who Should Enroll?
This course is designed for:
Nurse practitioners opening a private practice
Physicians who own or manage a practice
Healthcare entrepreneurs
Functional and integrative medicine providers
Aesthetic practice owners
IV therapy and wellness clinic owners
Cash-pay and membership practice owners
Established providers who want to improve profitability
Providers who rely on a bookkeeper but do not understand their financial reports
No previous accounting or business training is required.
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Nurse practitioner
As a solo Nurse Practitioner, I truly appreciate the collaboration and support. Before taking these courses, I felt like I was just 'winging it'—but not anymore. The content, resources, and your willingness to answer questions have dramatically increased my confidence and contributed to the success of my venture. Thank you for everything!
Why Providers Need Financial Training
Clinical expertise enables effective patient care, while financial literacy ensures the ongoing operation of your practice.
A thorough understanding of financial data enhances your ability to determine appropriate pricing, evaluate service offerings, make staffing decisions, identify cost-saving opportunities, and assess readiness for practice growth.
You don't need to become an accountant; however, a foundational understanding of financial reports is essential for effective business leadership.
Take Control of Your Practice Finances
Learn how to measure profitability, price services, control expenses, and use financial data to guide your decisions.
Enroll in the Healthcare Practice Finance and Profitability Blueprint to enhance the manageability of your practice’s business operations.
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