Workshop 4: Making practice finance work (CPD-SHEF10MAY16)

Additional qualification details

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Please note that this is one of six workshops designed to ensure dentists and managers feel confident that they are managing their practices as efficiently and as effectively as possible.

Whilst each course stands alone, delegates may want to consider booking all six sessions. The full list of workshop dates are:

1. 10th November 2015 - Planning and the management role

2. 12th January 2016 - Communicating to lead your team

3. 8th March 2016 - Marketing, meeting patient requirements and quality

4. 10th May 2016 - Finance

5. 12th July 2016 - Managing the performance of your team

6. 13th September 2016 - Managing change effectively

Mandatory: Dental Hygienist (£15.00pp discount), or Dental Nurse (£15.00pp discount), or Dental Technician (£15.00pp discount), or Dental Therapist (£15.00pp discount), or Practice Manager (£15.00pp discount), or Receptionist/Administrator (£15.00pp discount), or Dentist

What a delegate can hope to take from the workshop

To understand key financial concepts and how they apply to day to day management

An introduction to the key concepts required for good financial management is understood. These practices are then broken-down and applied to good financial management and how this can benefit both the finances and the management of the organisation.

To feel confident in taking responsibility for management accounting in the practice

The scope of the management accountant within the practice is explained. Processes and techniques are understood to allow this to be done within the practice at the appropriate level. This will include a good application of financial reporting to influence both management and strategic decisions.

To be able to create and manage a financial plan for the practice

The link between financial objectives and a financial management plan is understood. Through this understanding, there will be a clear link between financial goals and day to day targets and achievements.

To make a financial case for a proposed change in the practice

The process behind making a financial case and using financial ratios is explained and this is then applied to an actual example from a dental practice. The delegates will understand the importance of making a financial case and have a process for how to carry one out.

By the end of the course delegates will be able to:

• Understand key financial concepts and be able to apply that to day to day management
• Feel confident in taking responsibility for management accounting in the practice
• Be able to create, monitor and manage a practice financial plan
• Make a financial case for a proposed change in the practice