Course Catalog

 
06-444 BUSINESS CONCEPTS AND PERSONAL FINANCE FOR PHYSICIANS
Department MEDICAL EDUCATION Campus Birmingham
Course Type(s) Co-enrolled Elective Facility
Course Director JOE ZASA Enrollment Limit 50
Contact JOE ZASA Enrollment Minimum 4
Email joezasa1@uab.edu Address ASD Management,
7326 Wentwood Drive
Dallas, TX 75225
Phone (214) 912-9502 Fax
Weeks
Normally Offered
See Offering Dates
Prerequisites None 
Specific Clerkship Prerequisites:
Visiting Students
No LCME students accepted.
No osteopathic students accepted.
Course Description This course is designed to give students an understanding of basic business and finance concepts that they will encounter in their practice regardless of whether they are employed or in an independent practice. A core goal is to teach financial literacy and emphasize principles of leadership when interacting with colleagues, administration and staff by: . Understanding the macroeconomic principles of healthcare - how money flows through the system and your role in that system, including the dichotomy between patient care and profit. . Understanding how you bill, code, collect and contract with payers and manage your practice. . Understanding how to interact with those who will assist you and make you successful: building and perpetuating your "Tribe": colleagues, staff and administration, . Understanding basic healthcare legal principles, . Understanding the importance of building a core team of advisors such as lawyers, accountants, bankers, and consultants and how to use them to protect you and achieve your goals. . Understanding fundamental personal finance concepts including why you need a Will, how to purchase insurance, education planning for dependents, purchasing a home, purchasing or leasing a car and how to control debt and spending in order to achieve financial independence. . Having a fundamental understanding of basic investing concepts: how to make money work for you, instead of you working for money, including core concepts necessary to build wealth and control debt. Learning Objectives (what the student will gain from this course including knowledge and skills): Students will achieve an awareness of the business of healthcare, how money flows within the system and how this is balanced with patient care. Students will also understand the need to build a team of advisors to assist them with their career and how to maintain a system of checks and balances on those advisors. Finally, a key goal of this class is for students to become financially literate and grounded in basic personal finance concepts. Co-enrolled elective courses offer 2 weeks elective credit each; a student may only receive a maximum of 4 weeks elective credit from co-enrolled courses. STUDENTS ARE ONLY ALLOWED TO BE ENROLLED IN ONE CO-ENROLLED COURSE AT A TIME.
Where To Report Volker Room: LRB Time: Wednesday 5:00 - 7:30 pm
Requirements Students will be expected to attend and participate in the learning sessions. The course director needs to be notified of any absences and will assign make-up reading/assignments. The final grade will be pass/fail and will be based on attendance and participation at the sessions. The course will meet in person from 5:00pm - 7:30pm one Wednesday per month plus an online 1.5 hour Zoom meeting two weeks after the in-class lecture to discuss student papers. The course will be taught through in-person lectures supplemented by optional reading. Students are required to grasp the concepts of the class and write three (3) short essays on the topics of: Physician Practice Management and Revenue Cycle, Personal Finance and Interpersonal and Management Skills necessary to run a practice effectively. During the Zoom discussions, students will discuss their papers and interact with me and the other students.
Evaluation Pass/Fail; attendance, completion of all course assignment, and quality of graded/written assignments and participation.
Notes The textbook for the class is: Financial Wisdom for Physicians: Running a Successful Practice, Managing Your Personal Finances, and Investing for Success. It can be purchased through Amazon or directly from Mr. Zasa for $25.00 or you can check the book out with Mr. Belue at his office since he has copies. Mr. Zasa will bring the books to the first class, and you can pay him via Venmo (@Joseph-Zasa-2) or cash. If you have questions, contact him directly at joezasa@asdmanagement.com