Exam Preview for 33636: Essential Business Principles and Skills fo

Essential Business Principles and Skills for the Clinician-Manager, presented in Partnership with Thieme Publishers

Please note: exam questions are subject to change.

1. The clinician-manager is best described as: A former clinician now working as a full-time manager. Has the title of manager, but still sees patients full time. Multi-tasks as a clinician and manager. Has not been defined.
2. Which equation best describes the role of an effective manager: Results + Performance = Behavior Behavior = Performance = Results Behavior x Performance = Results Results cannot be quantified.
3. Effective communication is particularly important in business settings and include: Hiring process Talking about performance Staff meetings All of the above
4. Basic financial analytics skills include: Reading an executive dashboard, knowing a handful of KPIs and how they affect profit and understanding how staff can influence financial KPIs. Being able to remember spreadsheets. Calculating everything in your head. None of the above.
5. Helping staff understand how they can influence financial KPIs involves: Talking about performance, using staff meetings to talk about financial KPIs and coaching staff to improve behaviors that affect KPIs. Letting them observe other employees and figure it out. Not explaining KPIs to your staff. None of the above.
6. In the traditional bundled model, which KPI is NOT critical to success? Time spent with patients Units sold Average sales price All of the above
7. Bottom line refers to: Total revenue generated Revenue - cost of goods Gross profit Profit after all expenses are paid or accounted for.
8. One model that describes what is needed to build a strategic plan includes this hierarchy: Culture/Goals/KPIs KPIs/Results/Behaviors Revenue/Expenses/Profit People/Process/Results
9. A benchmark is best defined as: A random number used to gauge financial success. A value based on a similar practice used to set business goals. A formula that never deviates over time. All of the above
10. A key question used to start strategic planning with staff: Why are we here? What needs to be done? What do we want to be known for? How much money do we want to make?