The Financially Intelligent Physician’s Guide to the Practice You Desire
Learn the business side of healthcare.
Do you know what you don’t know?
You’re a smart person – you’re a physician, after all. But do you know everything you need to know to have a successful, valuable medical practice?
They don’t teach you how to run a business in medical school. But then nearly 50% of doctors go on to run their own practices without ever learning the financial basics that are essential to any business.
I've been exactly where you are
At one time, I was scared and overwhelmed by the pages and pages of financial reports I was handed each month.
Just like you, I felt the pressure of making the right business decisions. I could see that we were bringing in money, but I wasn’t sure if I actually had a healthy, profitable business.
I realized that my entire staff and their families were at risk if I wasn’t building a solid business that could be sustained through changes in the healthcare system, through competition – even through a global pandemic.
With more than 80 staff members and their families depending upon the leadership of my group to get it right, I went back to school to get an MBA.
Learn to run a successful practice faster than I did
It was incredibly valuable to my practice and my family when I got my MBA, but it also meant that I spent hundreds of hours away from both to do it.
So I set out to distill the most valuable parts of what I learned into a course designed specifically for physicians.
Almost every physician already possesses the skills they need to run a practice. All that is required is to learn how to use those skills in a different way.
That's what I help you do. I make the information easy to understand, teach you how to apply it, and coach you along the way.
See immediate results in your practice
After 45 minutes of classes, you will know how to read income statements.
In little over an hour, you’ll know how to use the balance sheet and cash flow statement.
After just two hours, you’ll know how to tell how healthy your practice is.
By the end of the course, you’ll understand types of costs and how to estimate them. You will also be able to evaluate capital investment.
Once you finish the course, you will be able to make better business decisions. You will understand how to not only read your financial reports but make them work harder for you.
Create a healthy business by knowing what to examine
Detect & prevent fraud
Be able to spot theft if it occurs.
Protect your cash flow
Track the lifeblood of your business.
Know your valuation
Find out if you’re in a position to sell.
"Having just completed the course, I can say Dr. Norris has created something much-needed in the physician community. He has taken the most pertinent topics from MBA finance and accounting courses and condensed them down to only about three hours of videos, all the while keeping his examples focused on a medical practice. I highly recommend this course to any physician who is considering going into private practice, desires an understanding of the financial health of their current practice, or those who are in an administrative role in any medical setting."
Matthew Nunley, DO
Internal Medicine Resident
"This is a must! In this course, Dr. Norris presents what every physician who cares about the financial viability of his practice should know. It teaches basic financials that we do not learn in medical school or in residency. The course is easy to navigate and simplifies the process of analyzing any practice’s financials. It should part of the curriculum of every residency program!"
Fadi Joudi, MD
Urologist
"The Financially Intelligent Physician course by Dr. Norris has been game-changing in my life. As a physician-in-training, there was always a level of uncertainty regarding what I would do after I finished my residency or fellowship. I was not sure of the best path for me: joining a private oncology practice, staying in academics or just affiliating with a big hospital. But the course changed my objectives completely. After learning the principles and fundamentals of finances and accounting and the methods to protect a medical practice from fraud, I decided to open my own private oncology practice. I am confident that with the principles I am learning from Dr. Norris and with his accessibility, he will guide me through this endeavor. Thank you, Dr. Norris, for being my mentor."
Luis A. Figueroa, MD
Hematology-Oncology
Learn from anywhere
Access this information from any device, in any location, at any time
What You'll Get
32 PDFs
Each lesson is accompanied by a PDF to complement what you learn.
37 streaming videos
Videos for each lesson (plus a few bonus videos) teaching you how to use the financial tools.
30 audio lessons
An audio version of each lesson so you can learn anywhere, anytime.
Online group access
Join monthly group consulting calls to learn alongside other providers.
Course Contents
Introduction
- Introduction
- The 4 P’s of exemplary patient care
- Your greatest asset to your success
- Your CPA
Accounting Principles
- Methods of accounting
- The income statement
- Using an income statement
- The balance sheet
- The asset column
- The liability column
- The equity column
- How assets and liabilities affect each other
- Cash is king!
- The statement of cash flows
Financial Analysis - Determining the Health of Your Practice
- Financial analysis
- Liquidity ratios
- Utilization ratios
- Profitability ratios
- Financial strength ratios
- Payer mix analysis
- Ratios for the medical practice
- Vertical and horizontal analysis
- Things you need to do regularly
Understanding and Controlling Costs
- Types of costs
- Estimating costs
- Bonus – Using Excel to determine your costs
- The break-even point
- Cost accounting ratios
Tools to Evaluate Investments
- The time value of money
- Bonus – Using Excel to determine present and future value
- The cost of capital
- Evaluating capital investments
- Bonus – Using Excel to examine and evaluate an investment
Fraud
- Tips on detecting and preventing fraud
Extra Downloads
Conclusion
Frequently Asked Questions
Immediately after purchase, you’ll receive an email with links to the materials, so you can get started right away.
You'll have access for one year. If it takes you longer than a year to get through the material, we can talk...
Both the audio and video files will play in any web browser, including on mobile devices or tablets.
About Me
I’m Dr. David Norris, MD, MBA, CPE. I’m a practicing physician who helps other medical professionals create the practice they want.
As a leader in my group practice, I was bothered when we breezed through the financials in our meetings. I knew there must be useful information hiding in those numbers. When my colleagues later elected me president, I knew I had to make a change.
I knew we could no longer afford to give glancing attention to income statements, balance sheets and cash flow statements – the very lifeblood of our business. Our staff and our families were counting on us to dig down into the numbers and make better decisions about the business.
So I went back and got my MBA.
I learned everything I could about the business of running a medical practice, including how to deal with the financials, how to successfully negotiate to protect our interests, and how to improve the tactical operations of our practice.
Earning my MBA was invaluable to me, my family and my business, but it also cost me hundreds of hours away from all that. So I’ve put the best of what I learned – and what I’ve seen work every day in my practice – into simple, effective courses that will help you maximize your practice in far less time.
