Physician’s Practice Management – Wk 5

“Financial Planning for Medical Group Practices” Please respond to the following:

• Analyze the fundamental financial and budgeting responsibilities of a group practice manager. Suggest the most important competency that a practice manager must demonstrate in order to effectively manage the practice’s financial accounts. Support your rationale.
• Compare and contrast the main different types of budgets that practice managers use. As a practice manager, determine two (2) types of budgets that you think would be most effective for managing the practice’s income and expenses. Justify your response.

***This is a discussion, not a paper. Need 2 strong paragraphs and references. No plagiarism.***