The Sankara Nethralaya Academy conducted a training program on Saturday 26th September 2015 on the topic “Finance for Hospital Administrators” for the Certificate course on Hospital Management
The genesis and milestones of Sankara Nethralaya and The Sankara Nethralaya Academy (TSNA) were detailed by Mr. A Mahalingam, Deputy Registrar, TSNA when he presented a virtual tour of both the institutions functioning under the visionary leadership of Dr. SS Badrinath – The Founder – The Sankara Nethralaya Academy and Chairman Emeritus – Sankara Nethralaya, Medical Research Foundation.
Shri P.R. Ravindran, a Chartered-cum-Cost Accountant and former Chief General Manager of Sankara Nethralaya, took the session for three hours on the topic, to enable doctors, managers and executives in hospitals.
• Appreciate the role of and understand the implications of finance on corporate/institution’s activities.
• Understand financial statements and analyze them.
• Be in a better position to discuss the subject with finance managers in their organization.
The Program mainly covered, understanding financial statements like, Balance Sheet, Profit & Loss Account, Ratio Analysis for review of Performance, Working Capital Management, Cash flow Management and Basic principles of Costing.
The methodology of the Programme mainly focused on real life examples, like Apollo Hospitals Financial Statements and a lively case study on Costing of a Surgery.
Finally the session was concluded with tips on Personal financial planning for the benefit of each individual Personal financial planning is an important necessity for each one of us who seeks financial control of our affairs and wishes to create wealth.
It is a process of assessing your financial situation, identifying your financial goals, determining your objectives and formulating a plan to achieve them in a most professional way. It involves adopting suitable plans or tactics to combine an individual’s or family’s financial goals, including risk management, investment planning, retirement planning, and tax planning.
It is all about knowing where in life do you stand financially and taking control of it and drive it in the proper direction to reach the destination easily and with in the targeted time.
Defining the objectives is the focus of planning and making a strategy to achieve the predefined objective is the root of planning. It is the process of keeping your goals and aims in mind, select a financial product or investments in other assets that fits in your expectations and finally helps you in achieving your goals as desired by you.