Business of Radiology 101

Introduction:

Knowledge of practice management principles and healthcare systems is increasingly recognized as a critical skill and an integral and important component of post-graduate residency training in radiology. This tutorial walks you through basic concepts and terminology of financial reporting documents including an income statement and a capital purchase. Several scenarios are provided illustrating financial decisions common to a radiology practices and their implications. As you make purchasing decisions, the effects will be reflected in your practice’s finances.

Instructions:

• Click the arrows at the bottom of each section to navigate.
• The outline (on the left) highlights your progress.
• All interactive spreadsheets can be altered, hit 'enter/return' on your keyboard or click the ‘Update’ button below. ‘Reset’ returns the sheet to the original state.
• Click on links, like: - Net Present Value - for definitions of key terms

Please use this as an opportunity to experiment with the financial impact of different equipment purchases.