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sept 19 hour 1 - Managing Money and Financial Tools PHRX...

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Managing Money and Financial Tools PHRX 4050 Hour 1, Monday Sept. 19 Peter Tyczkowski, R.Ph., MBA [email protected] 860-486-3151 1
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Quick overview | Revenues and costs have large impact on organizations z Income statement | Assets and Liabilities z Balance sheet | Working capital needed to sustain an organization z Profitability z Timing 2
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Follow the flow of money in a prescription transaction 3
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Typical Cash and Carry transaction 4
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Class of Trade Illustration 5
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Medicaid Cash Flows 6
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Insurance/PBM Flows 7
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Types of financing | Debt z “Owners” z Banks Federal State | Equity z Owners z Stockholders z Venture Capital 9
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How do businesses “keep score”? | Common Tools z Budgets z Income Statement z Balance Sheet z Cash flow statements 10
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Setting Financial Objectives Via budgeting | Merriam Webster – “Budget” a statement of the financial position of an administration for a definite period of time based on estimates of expenditures during the period and proposals for financing them b : a plan for the coordination of resources and expenditures c : the amount of money that is available for, required for, or assigned to a particular purpose 11
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Depending upon the organization, One person may manage one particular budget or all of them for the business unit z Interrelated & dynamic Impact “bottom line” Changes in one may require changes in the other z Consider: 12
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