University of Montana - Rehab Essentials
Educating Health Professionals in a Cost-Effective Way
Course Description
Business and Marketing
The Business and Marketing course is a comprehensive analysis at those factors influencing physical therapy economics and those organizational and management principles, which impact the ethical and legal aspects of health care delivery.Purpose of the Course
This course provides a comprehensive analysis of factors that influence physical therapy economics and organizational and management principles, which impact the ethical and legal aspects of health care delivery. The course objectives are designed to allow the learner to recognize their roles and responsibilities in regards to cost effective delivery of physical therapy services and the business principles, economics, and culture that influence success.
Objectives
Upon successful completion of this course, the student will:
- Compare the tools used for business analysis, including Profit/Loss statements, Balance Sheets, and Value Propositions
- Propose a Value Proposition relevant to his/her particular area of physical therapy practice
- Articulate the purpose of a Core Value system within business and how they are used to direct it
- Distinguish the relationship between autonomy, professional ownership and the concept of reinvestment of surplus value
- Compare the different ways in which equity is determined for business value and the methodology used to use equity determination for business purchases or partnerships and list the elements necessary for an Operating Agreement
- Articulate Porter’s Five Force Model
- Propose a logical and structured Strategic Plan for a unique business venture
- Articulate the differences between advertising and marketing and relate this to push and pull technologies as they are used to improve a business.
- Distinguish 3 economic indicators of practice
- Distinguish 3 indicators of a business that is a learning organization and that has the mechanisms in place for a perpetually successful business model