Financial Management And Financial Planning For Doctors

This programme is designed specifically for doctors to provide them a comprehensive understanding of the financial management and financial planning concepts.

This programme aims to equip doctors with important finance concepts and analytical skills which are relevant in all aspects of personal finance and investment decision making.

At the end of the programme, it is expected that participants will have sound basic finance and accounting knowledge which they can use for their personal (wealth management) and professional (business) decision.

Medical professional like doctors play a very important role in the delivery of healthcare services in our country. In India’s healthcare set-up, doctors tend to lack expertise in financial management concepts, and fall for financial lingos used by finance experts, investment advisers, and financial service providers.

There are several important factors that hinder the financial knowledge of doctors like long training period, early financial liability, late entrant to job market, more committed professional engagement, late and long erratic working hours, consistent pressure of enhancing professional knowledge domain.

 Doctors in general never have a formal chance to read about finance in detail, and it never being a subject that has been taught in terms of academic curriculum. This actually prevents doctors to manage their personal finance efficiently, and efficient investment management.

Healthcare sector in India has shown a profound growth over the past decade. Along with the growth in this sector it has also seen a remarkable demand for professional medical practitioners with sound business and finance skills. Indian healthcare sector has long been underfunded.

As per International Finance Corporation 2015 report, India which accounts for the second-largest population in the world and 20 percent of the global disease burden spends only 3.8 percent of GDP on health.  

As such, India continues to be a much-underserved healthcare market. In such a scenario many of the medical professionals and doctors try to establish their own private hospitals and health care centres.

Apart from multi-speciality health care facility what makes an important parameter for a successful business venture is the sound knowledge of financial management. To improve financial performance and accomplish long-term growth objectives, it is important to have sound financial knowledge and understanding.

Content:

• Introduction to Accounting and Finance
• Financial Statements: Understanding and Interpretation
• Essentials of Cash Flow Analysis
• Principles of Cost Management
• Introduction to Financial Management
• Introduction to Capital Budgeting and Investment Analysis
• Financial Markets and Macro Economy
• Understanding of Financial Market and Asset Classes
• Understanding Risk and Return Analysis
• Introduction to Personnel Finance
• Financial Planning and Financial Goals
• Investment Decision Making
• Identifying Investment Opportunities
• Identifying and Managing Investment Risk
• Asset Allocation and Diversification
• Behavioural Finance and Investment Mistake